Purchase Agreement For Land In Oklahoma

The Oklahoma purchase agreement symbolizes the loan to exchange a residential dwelling for a predetermined monetary value. A sales contract is an instrument by which an offer is made to the receiving party. If the conditions do not meet the standards of one of the participants, negotiations and changes to the form may take place until the two parties have agreed. As soon as the seller and buyer are satisfied with the contract, the document can be executed to conclude the contract. The most commonly used contract for home purchases in Oklahoma comes from the OK Real Estate Commission. A very important point about a real estate contract are the dates. Everything that has to do with a real estate transaction is time-consuming, which is why, as a real estate agent, we are very attentive to this data. If you miss the contract dates, we will either have to write a supplement in which both parties agree to settle the date, or you can end «unless contracted» and the contract is no longer valid. If you are a buyer, you could lose your serious money. Therefore, appointments in a real estate contract are very critical. Purchase price, Earnest Money and source of funds.

This is a cash transaction unless an additional financing is attached. The purchase price is payable by the buyer as follows: The buyer paid the balance of the purchase price and the buyer`s acquisition fee to the subscription as Earnest Money when executing the contract. If the contract is executed, the Earnest Money is deposited into the trust account of ______________________________________or if it is left empty, the Listing Broker`s receiver account, as part of the purchase price and/or acquisition fee. If interest is collected from Listing Broker`s trust account, that interest is paid to the Oklahoma Housing Foundation. i. Upon receipt of the completed TRR form, the seller must be received by the seller`s broker in order to obtain, if applicable, cost estimates in order to have days and days (5 days if empty) after receiving the TRR form filled out with the seller broker. The seller agrees to pay up to $100,000 («repair cap») at RRRs` expenses. If the seller or, if so, the seller`s broker asks for cost estimates that exceed the repair cap, the seller or, if necessary, the seller`s broker, he will notify the buyer or the buyer`s broker in writing within two days of receiving the cost estimates, if any.