This Step-By-Step Purchase Agreement Worksheet is intended to be used as a guide for gathering the information to assist you in filling out a Purchase Agreement for the sale or purchase of a home.
It is not necessary to complete this entire worksheet. Do not use this worksheet in place of a Purchase Agreement. Read and understand the entire Purchase Agreement before you sign.
Please call Barry Rosenzweig, Attorney at Law, or Charles Segal, Attorney at Law.
Call our 24 hour Hotline at 952-920-1001, if you have any questions.
Phone: 952-920-1001 Fax:
952-920-1617 Email: info@barrylaw.com
PARTIES
Seller (1) (Full legal name)
Date of Birth
Marital Status Social Security
Number
Seller (2) (Full legal name)
Date of Birth
Marital Status Social Security
Number
Address City
State Zip Code
Home Phone Work Phone (1)
Work Phone (2)
Buyer (1)
(Full legal name)
Marital Status Social Security
Number
Buyer (2)
(Full legal name)
Marital Status Social Security
Number
Address City
State Zip Code
Home Phone Work Phone (1)
Work Phone (2)
OFFER/ACCEPTANCE
Legal Description
Street Address City
State Zip Code
County
Year Built
ACCEPTANCE DEADLINE
The number of days the other party has to sign the final purchase agreement
before it will become null and void
PERSONAL PROPERTY
List all the items of personal property which will be sold with the home
(items such as washer, dryer, stove, refrigerator should be listed here)
Is there a water softener on the property?
Yes
No
If yes, is it owned or rented?
PRICE AND TERMS
Sale Price of Home
Earnest Money
Check, Cash, or
Note
Additional Cash (Down Payment minus Earnest Money)
Mortgage Amount
(Earnest Money plus Additional Cash plus Mortgage Amount equals Sale
Price)
Earnest Money to be held in Attorney's Trust Account?
Yes
No
If yes, check should be made payable to: Rosenzweig Law Office, Attorney's
Trust Account.
Closing Date
FINANCING
FHA or
VA or CONTRACT FOR DEED or
ASSUMPTION or CONVENTIONAL
If Conventional, is it:
UNINSURED CONVENTIONAL or
INSURED CONVENTIONAL
Note: All conventional loans with less than 20% down will be insured conventional.
Fixed Rate or Adjustable Rate Term of
Mortgage in Years (i.e. 15 or 30)
Maximum Interest Rate Buyer will obtain a Mortgage for is %
Maximum Mortgage Discount Points %
of Mortgage
Buyer to pay % Seller to pay %
Rate and Points to be:
Locked
Floated
If Floated:
Buyer
Seller may lock in rate and points.
Maximum Amount that Seller agrees to pay for work orders if necessary
$
If F.H.A. or V.A.
Has an FHA/VA Amendatory Clause and Certifications form been completed?
Is the V.A. funding fee to be added to the Mortgage or paid at closing
by the Buyer? _
If ASSUMPTION of:
FHA VA
Date of Loan Origination
Qualifying or
Non-Qualifying
Lender's Name Lender's
Phone Number
If CONTRACT FOR DEED
Interest Rate Number
of Years Balloon Date
DEED/MARKETABLE TITLE
GENERAL WARRANTY DEED
LIMITED WARRANTY DEED
CONTRACT FOR DEED
QUITCLAIM DEED
Any tenants and/or leases on property? If Yes, please explain
EXAMINATION OF TITLE
Is the property Abstract or Torrens?
If Abstract, please indicate location of Abstract?
Do you have an Owners Title Policy?
If yes, please attach or forward to us.
REAL ESTATE TAXES AND SPECIAL ASSESSMENTS
BUYER AND SELLER TO PRORATE Real Estate Taxes due and payable in and for
year of closing?
Yes or
No
If No, How would Buyer and Seller like to arrange for payment of Real
Estate Taxes?
Special Assessments Certified for Payment with Real Estate Taxes
BUYER AND SELLER SHALL PRORATE as of
the date of closing all installments of Special Assessments certified
for payment with the real estate taxes due and payable in year of closing?
or
SELLER SHALL PAY on date of closing
all installments of Special Assessments certified for payment with the
real estate taxes due and payable in year of closing?
Levied Special Assessments
BUYER SHALL ASSUME all other special
assessments levied as of the date of the purchase agreement?
or
SELLER SHALL PAY on date of closing
all other special assessments levied as of the date of the purchase agreement?
Pending Special Assessments
BUYER SHALL ASSUME special assessments
pending as of the date of the purchase agreement?
or
SELLER SHALL PROVIDE FOR PAYMENT of
special assessments pending as of the date of the purchase agreement?
Has the seller received a Notice of Hearing of a new public improvement
project?
Yes or
No
Deferred Real Estate Taxes
BUYER SHALL ASSUME any deferred real
estate taxes or special assessments?
or
SELLER SHALL PAY on date of closing
any deferred real estate taxes or special assessments?
Property Taxes due and payable in the year of closing are:
Full Homestead or
Part Homestead or Non Homestead
Property Taxes due and payable in the year following closing are:
Full Homestead or
Part Homestead or Non Homestead
SELLER'S BOUNDARY LINE, ACCESS, RESTRICTIONS AND LIEN WARRANTIES
Is the building entirely within the boundary lines of the property?
Is there a right of access to the property from a public right of way?
Has there been any labor or material furnished to the property for which
payment has not been made?
If yes, please explain
Are there any present violations of any restrictions relating to the use
or improvement of the property?
If yes, please explain
CONDITION OF PROPERTY
Is Buyer planning on having a private inspection of the property?
If yes, what date will it be completed by?
Has Seller had a wet basement or water in the basement?
Has the roof on the property leaked?
Is the property connected to city water? Is
the property connected to city sewer?
Is the property connected to cable T.V.?
Is there a well on the property?
If yes, is it operational?
If non-operational, has it been sealed in accordance with Minnesota law?
If yes, does Seller have a SEALED WELL CERTIFICATE?
DISCLOSURE OF NOTICES
Has Seller received any notice as to violation of any law, ordinance or
regulation?
If yes, please explain
Has the Seller completed a Real Estate Transfer Disclosure?
If yes, has Buyer received a copy of the Real Estate Transfer Disclosure?
TRUTH-IN-HOUSING
Is a Truth-in-Housing Inspection required by the municipality in which
the property is located?
Yes
No
If yes, has the Buyer received a Truth-in-Housing Disclosure Report?
Yes
No
CONTINGENCIES
Is the Purchase Agreement contingent upon the sale of the Buyer's current
home or some other event?
Yes
No
If yes, please explain
POSSESSION
Will the buyer take possession of the property on day of closing?
Yes
No If no, when will buyer take possession?
CONDOMINIUMS and TOWNHOMES
Has Buyer received a copy of the Declaration, Bylaws, Rules and Regulations
and Disclosure Certificate?
Yes
No
If no, Buyer must receive copies of these documents prior to the signing
of a Purchase Agreement
If you have any questions regarding this worksheet or legal questions regarding the sale of your home, please call Barry Rosenzweig, Attorney at Law, or Charles Segal, Attorney at Law.
Call our 24 hour Hotline at 952-920-1001, if you have any questions.
Phone: 952-920-1001. FAX: 952-920-1617