When it comes to buying or selling property in Tennessee, a purchase and sale agreement is an essential document that helps protect both buyers and sellers. Fortunately, there are free Tennessee purchase and sale agreement templates available for use in 2019.
What is a purchase and sale agreement?
A purchase and sale agreement is a legally binding contract between a buyer and a seller. It outlines the terms and conditions of the sale, including the sale price, contingencies, and closing date. A well-written purchase and sale agreement can help prevent disputes between buyers and sellers, and protect both parties’ interests.
Why use a free Tennessee purchase and sale agreement template?
Using a free Tennessee purchase and sale agreement template in 2019 can save both time and money. A template provides a starting point for creating a customized agreement, which can be tailored to fit the specific needs of the buyer and seller. Additionally, the use of a template ensures that the agreement complies with Tennessee state laws and regulations.
Where can I find a free Tennessee purchase and sale agreement template?
There are several reliable sources for free Tennessee purchase and sale agreement templates in 2019. One such source is the Tennessee Real Estate Commission, which provides a free purchase and sale agreement template on its website. Additionally, legal document preparation services like Rocket Lawyer and LegalZoom offer free templates that can be downloaded and customized.
What should be included in a purchase and sale agreement?
A purchase and sale agreement should include a variety of important details, including:
– Identification of the buyer and seller
– Description of the property being sold
– Purchase price and terms of payment
– Contingencies, such as financing, inspections, and the sale of the buyer’s current home
– Closing date and location
– Any warranties or guarantees that the seller is providing
– Signatures of both the buyer and seller
It’s important to note that a purchase and sale agreement should be reviewed by a qualified attorney in order to ensure that all legal requirements are met and that the agreement is legally binding.
In conclusion, using a free Tennessee purchase and sale agreement template in 2019 is a smart choice for buyers and sellers in Tennessee. Just be sure to customize the template to fit your specific needs, and have it reviewed by an attorney to ensure its legality.