Residential Purchase Agreement (Ca_ResidentialPurchase.doc): This is the sales contract. It begins with the words “Offer to Purchase” because almost all home sales start with the Buyer making an offer. If you are selling “by owner,” simply leave the Buyer’s name blank, fill in the information that will not change plus your asking price at the top of paragraph 1, and print several copies. Paragraphs 1 and 2 can’t be filled out without a potential buyer who has agreed to your price and is prepared to say how much cash he or she can offer as a down payment and what kind of mortgage loan he or she will try to get.
Real Estate Transfer Disclosure Statement (Ca_TDSdisclosure.doc): Fill in the blanks, make several copies, and attach a copy to each Residential Purchase Agreement. The purpose of this document is to allow the Seller to tell the Buyer what he or she knows about the property. It does NOT require research. Each set of questions begins with “Are you aware.” If you are “not aware” or “don’t know” the proper answer is “No.”
Lead Based Paint Addendum (Ca_LeadBaseDisclosure.doc): If the home was built in 1978 or later, indicate that and attach the basically blank form to the Residential Purchase Agreement. If the home was built prior to 1978, answer the questions and print several copies for attachment to Residential Purchase Agreement.
Escrow Agreement (Escrow_Agreement_form_wd2007.): The purpose of the Escrow Agreement is to name the person who will hold the Buyer’s deposits, usually for earnest money or a binder. The Escrow Holder can be the Buyer’s real estate agent, the Seller’s lawyer, or anyone the Seller and Buyer agree on. The Escrow Holder can sign as a witness. Californis designated Escrow Agents or Escrow Officers can often act as the closing attorney, and will hold all deposits.
Counter Offer (Counter_Offer_wd2007.docx): This is essentially a blank form that provides a medium for either the Seller or Buyer to describe terms they would like made to the currently offered Purchase and Sale Agreement. For simple changes like the purchase price amount the Seller or Buyer can simply draw a line through the offered amount and write an acceptable price directly onto the Purchase and Sale Agreement. The Counter Offer provides a more formal method of making complex changes.
Homeowner’s Association Disclosure (Home_Assoc_Disclosure_wd2007.docx): Most homes built after 1980 are in sub-divisions where owners are required to join Homeowner’s Associations and pay dues to maintain common property. Fill out this form if your Buyer will be required to join a Homeowner’s Association.
Smoke Detector Statement of Compliance (Ca_SmokeDetector.doc): Seller signs this one page document to certify that property has an operating smoke detector that meets California’s Fire Marshal’s regulations. Most smoke detectors sold in California meet these regulations.
Forms for estimating net cash to Seller, and a Buyer’s ability to afford the asking price.
Net to Seller: This form allows user to enter estimates of all closing costs (balance on current mortgage loan, attorney’s fee, Title search, etc). The user manually subtracts the total estimated cost from the Purchase Price to get the amount of cash the Seller will receive at closing.
Buyer Pre-Qualification: This form records the prospective Buyer’s annual income and expenses and provides manual calculation formula to determine if Buyer can afford the asking price.
Buyer Pre-Qual Sample: Buyer Pre-Qualification form filled out for a Buyer with $48,000 annual income. Based on the sample Buyer’s monthly expenses, the form estimates that Buyer can afford a $144,000 house.