Residential Purchase and Sale Agreement

Type of Property

Type of Property Single-Family HomeCondominiumPlanned Unit Development (PUD)Duplex (2-unit)Triplex (3-unit)Fourplex (4-unit)Other

The type of Property being purchased can be described as:

Does the Property include Land?

Does the Property include Land? YesNo

Most purchase agreements include land, although, a Property such as a condominium or apartment would not.

Property Address

Property's Street Address

Street Address

Address Line 2

City

State

ZIP Code

Also known as the Mailing Address

Legal Description

Do you know the Legal Description of the Property?

Do you know the Legal Description of the Property? YesNo

A Legal Description is considered the Tax Map/Lot Number, Parcel Identification Number, Deed Book and Page Numbers, etc.

Enter the Legal Description

Personal Property

Will the Buyer be obtaining any of the Seller's Personal Property?

Will the Buyer be obtaining any of the Seller's Personal Property? YesNo

Personal Property is anything that is "removable" such as a washer, dryer, furniture, refrigerator, microwave, etc.

List ALL Personal Property:

Fixtures

Will the Seller be keeping any of the Fixtures on the Property?

Will the Seller be keeping any of the Fixtures on the Property? YesNo

A fixture is something that is "screwed in" or "made part" of the property. For example, dishwashers, toilets, and sinks would be considered fixtures.

Enter the Fixtures:

Other Information

Is there any other information you would like to add about the Property?

Is there any other information you would like to add about the Property? YesNo

Such as land area (acreage), easements, deed restrictions, etc.

Write

The Buyer

Who is the Buyer?

Who is the Buyer? Individual(s)a Business Entity

How many Individuals?

Buyer (Business Entity Name)

Business Entity's Name

A business entity is known as a Company (L.L.C.), Corporation, Partnership (including limited), Trust, or any other type of association recognized by the State.

Who is Signing on behalf of the Business Entity?

First

Last

What is their role in the Business Entity?

What is their role in the Business Entity? PresidentCEOMemberOfficerOther

Write

Buyer (Individual)

Individual's Name

First

Last

2nd Individual's Name

First

Last

3rd Individual's Name

First

Last

4th Individual's Name

First

Last

5th Individual's Name

First

Last

6th Individual's Name

First

Last

7th Individual's Name

First

Last

8th Individual's Name

First

Last

9th Individual's Name

First

Last

10th Individual's Name

First

Last

Buyer's Mailing Address

Street Address

Address Line 2

City

State

ZIP Code

The Seller

Do you know the Seller's Name(s) and Mailing Address?

Do you know the Seller's Name(s) and Mailing Address? YesNo

Who is the Seller?

Who is the Seller? a Business EntityIndividual(s)

How many Individuals?

Seller (Business Entity)

Business Entity Name

Who is Signing on behalf of the Business Entity?

First

Last

What is their role in the Business Entity?

What is their role in the Business Entity? PresidentCEOOfficerMemberOther

Write

Seller (Individual)

Individual's Name

First

Last

2nd Individual's Name

First

Last

3rd Individual's Name

First

Last

4th Individual's Name

First

Last

5th Individual's Name

First

Last

6th Individual's Name

First

Last

7th Individual's Name

First

Last

8th Individual's Name

First

Last

9th Individual's Name

First

Last

10th Individual's Name

First

Last

Seller's Mailing Address

Is the Seller's Mailing Address the SAME as the Property Address?

Is the Seller's Mailing Address the SAME as the Property Address? YesNo

Seller's Mailing Address

Street Address

Address Line 2

City

State

ZIP Code

Purchase Price

Numeric

Text

Dollars

Don't write the word "Dollars", just numerical text.

Earnest Money Deposit

Will there be an Earnest Money Deposit?

Will there be an Earnest Money Deposit? YesNo

This is provided in the event the Buyer does not perform on this Agreement, the Seller will be entitled to these funds unless this Agreement is contingent upon something else such as financing, selling another home, etc.

Enter the Amount ($)

The Buyer will have to pay the Earnest Money by

Time

AMPM

Trust / Escrow Account

Will the Earnest Money be placed in a Trust or Escrow Account?

Will the Earnest Money be placed in a Trust or Escrow Account? YesNoI don't know

If there is a real estate agent involved in the transaction, depending on State law, it may be required for the deposit to be placed in a Trust or Escrow Account. This will ensure the funds will not be mismanaged or commingled by the Seller or their Agent.

Buyer Financing

Will this Agreement be contingent upon the Buyer receiving financing?

Will this Agreement be contingent upon the Buyer receiving financing? YesNo

Select 'Yes' if the Buyer will need a loan or mortgage in order to purchase the Property.

What type of Financing will the Buyer be needing?

What type of Financing will the Buyer be needing? Conventional (Mortgage) LoanFHA Loan (attach the FHA/VA Addendum)VA Loan (attach the FHA/VA Addendum)Seller FinancingOther

Buyer agrees to get financing through:

Cash Offer

The Buyer is proposing a Cash Offer. The Seller will need to be given evidence of the available funds by a specific date.

Buyer must provide PROOF to the Seller they can purchase the Property by

Time

AMPM

Standard Financing

Does the Buyer need to prove they can obtain financing BEFORE the Closing?

Does the Buyer need to prove they can obtain financing BEFORE the Closing? YesNo

This is recommended. The Buyer will usually be required to show a Pre-Qualification Letter to the Seller within 15 days of this Agreement being signed.

When will the Buyer be required to prove they can obtain financing?

Seller Financing

Also known as "Owner Financing." This is where the Seller of the Property acts as the bank and loans the Buyer the money to purchase the Property. Payments are made to the Seller in the same structure as a conventional mortgage with payments made every month.

Down Payment

$(commonly 20% of the Purchase Price)

Loan Amount

$(commonly 80% of the Purchase Price)

Interest Rate (%) per Annum

Term (Length of Loan)

MonthsYears

Seller's Approval

Has the Buyer already been approved by the Seller for Financing?

Has the Buyer already been approved by the Seller for Financing? YesNo

If not, the Buyer will be required to provide documentation to the Seller in the form of tax returns, proof of income, investments, etc. Afterward, the Seller will be required to approve the Buyer by a specific date.

Seller must approve the Buyer by

Time

AMPM

Deed Type

What type of Deed is valid to transfer the Property?

What type of Deed is valid to transfer the Property? Warranty Deed (recommended)Special Warranty DeedQuit Claim DeedGrant DeedOther

Type of Deed

Sale of Another Property

Is this Agreement contingent on the Buyer selling their Property first?

Is this Agreement contingent on the Buyer selling their Property first? YesNo

In some cases, the Buyer may only be able to purchase the Property if they can sell another property by a specific date. This will provide added risk to the Buyer's availability to purchase the Property. Usually, Sellers in this position will demand a higher purchase price, especially, if there are other offers presented to the Seller.

What is the Buyer's Property Address?

Street Address

Address Line 2

City

State

ZIP Code

Date Required to be Sold

Select when the potential Buyer is required to sell their Other Property before this Agreement terminates.

When is the Buyer's Property required to sell by?

If the Buyer's Property does not sell, the Earnest Money shall be returned to

If the Buyer's Property does not sell, the Earnest Money shall be returned to the Buyerthe Seller

Closing Costs

Who will be responsible for the Closing Costs?

Who will be responsible for the Closing Costs? Both Parties (shared equally)BuyerSeller

Closing Costs may include loan origination fees, discount points, appraisal fees, title searches, title insurance, surveys, taxes, deed-recording fees and credit report charges.

The Closing

The Closing is when the Buyer transfers the money to the Seller and the Seller transfers the Property to the Buyer. Otherwise known as the "Transaction Date".

When is the LAST DAY the Closing must occur?

Time

AMPM

Mineral Rights

Will the Seller be keeping any Mineral Rights to the Property?

Will the Seller be keeping any Mineral Rights to the Property? YesNo

These are rights under the soil such as water, gas, oil, or any type of mineral rights.

What type of Mineral Rights will the Seller be retaining?

What type of Mineral Rights will the Seller be retaining? All RightsSpecific Rights

Seller will be retaining the following mineral rights:

Survey Problems

Survey problems must be presented to the Seller on or before

How long will the Seller have to remediate any Survey Problems?

Days

Title Search Report

How many days will the Buyer have to review the Title Search Report?

Days

In all Property transactions, an official lookup of the title will need to be completed known as the Title Search Report. After it's completed, the Buyer is usually given a time-frame to review it such as five (5) days.

Title Defects

If defects are found in the Title, how many Days will the Seller have to correct it?

Days

Inspections

When does the Buyer's INSPECTION PERIOD end?

If no inspection period, enter today's date.

Defects

When is the Last Day the Buyer can report DEFECTS on the Property?

If Defects are found, how long will the Buyer and Seller have to re-negotiate?

Days

For example, if a leak is found in the roof, the Buyer and Seller will have the above time-frame to re-negotiate the terms. If the Buyer and Seller cannot come to an Agreement, the contract becomes void and the Earnest Money is returned to the Buyer.

Appraisal

Is this Agreement contingent on the Property appraising to equal or more value than the Purchase Price?

Is this Agreement contingent on the Property appraising to equal or more value than the Purchase Price? YesNo

In cases where the Buyer is needing financing from a bank to purchase the Property, a common condition is that the Property will need to "appraise" for equal or more than the value of the Purchase Price.

If the Property does not appraise, how long will the re-negotiation period be?

Days

If the Property does not appraise to the value of the purchase price, this Agreement will need to be re-negotiated or the Earnest Money must be returned to the Buyer.

Offer Expiration Date

This is just an Offer until it is signed by the Buyer and Seller.

When must BOTH the Buyer and Seller sign this Agreement?

Time

AMPM

Lead-Based Paint Disclosure

Required under federal law that any property built prior to 1978 needs to have the lead-based paint disclosure form attached to this Agreement.

Was the Property built before 1978?

Was the Property built before 1978? YesNoI don't know

The brochure "Protect Your Family from Lead in Your Home" must be given to the Buyer

The brochure "Protect Your Family from Lead in Your Home" must be given to the Buyer I Agree

Download - Protect Your Family from Lead in Your Home

Property Disclosure

Colorado requires the following disclosure to be attached to this Agreement:

Colorado requires the following disclosure to be attached to this Agreement: I understand

Download - Sellers Residential Property Disclosure

Radon Disclosure

Colorado requires the Seller to disclose any knowledge of radon concentrations at the Property, including the following information:

- Whether a radon test or tests have been conducted;

- The most current records and reports pertaining to radon concentrations;

- A description of any radon concentrations detected or mitigation or remediation performed;

- Information regarding any radon mitigation system, including a system description and documentation, if a radon mitigation system has been installed at the Property.

Does the Seller have any relevant information on radon concentrations as described above?

Does the Seller have any relevant information on radon concentrations as described above? YesNo

Please describe the Seller's knowledge of any radon concentrations at the Property:

Be sure to include the following:

Whether a radon test has been conducted;

The most current records and reports pertaining to radon concentrations;

A description of any radon concentrations detected or mitigation or remediation performed;

Information regarding any radon mitigation system, including a system description and documentation, if a radon mitigation system has been installed at the Property.

Radon Brochure

Must be given to the Buyer, regardless of the Seller's knowledge of radon concentrations at the Property.

Seller must give the Buyer a copy of the "Radon and Real Estate" brochure:

Seller must give the Buyer a copy of the "Radon and Real Estate" brochure: I understand

Click the link to download: Brochure by the Colorado Dept. of Public Health & Environment.

Attachments

Are there any other Disclosures or Addendums to be attached to this Agreement?

Are there any other Disclosures or Addendums to be attached to this Agreement? YesNo

Check 'Yes' if there are ANY attachments that will be added to this Agreement.

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Add another?

Add another? YesNo

Name of Attachment

Additional Terms & Conditions

Are there any other Terms or Conditions?

Are there any other Terms or Conditions? YesNo

This is your last chance to enter anything in this Agreement that has not been already mentioned.

Write

Real Estate Agents

Also known as Realtors®, Brokers, and Transaction Agents.

Were any Real Estate Agents used in this transaction?

Were any Real Estate Agents used in this transaction? YesYes, but don't want to name in this AgreementNo

How many?

How many? 12

Agent Name(s)

Real Estate Agent's Name

First

Last

Real Estate Company

Enter the name of the real estate company the agent is from.

Real Estate Agent's Name

First

Last

Real Estate Company

Effective Date

Effective Date of this Agreement

Save and finish later

Colorado Residential Purchase and Sale Agreement

Property Address

Legal Description

Personal Property

Fixtures

Other Information

The Buyer

Buyer (Business Entity Name)

Buyer (Individual)

Buyer's Mailing Address

The Seller

Seller (Business Entity)

Seller (Individual)

Seller's Mailing Address

Purchase Price

Earnest Money Deposit

Trust / Escrow Account

Buyer Financing

Cash Offer

Standard Financing

Seller Financing

Seller's Approval

Deed Type

Sale of Another Property

Date Required to be Sold

Closing Costs

The Closing

Mineral Rights

Survey Problems

Title Search Report

Title Defects

Inspections

Defects

Appraisal

Offer Expiration Date

Lead-Based Paint Disclosure

Property Disclosure

Radon Disclosure

Radon Brochure

Attachments

Additional Terms & Conditions

Real Estate Agents

Agent Name(s)

Effective Date