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NWMLS Form 21 Residential Purchase Sale Agreement Revised 6/06 Page 1 of 4 Copyright 2006 Northwest Multiple Listing Service ALL RIGHTS RESERVED RESIDENTIAL REAL ESTATE PURCHASE AND SALE AGREEMENT SPECIFIC TERMS Date Buyer Seller MLS No. Property Tax Parcel Nos. County Washington Street Address Included Items wood stove stove/range satellite dish refrigerator washer security system other dryer dishwasher hot tub fireplace insert Legal Description Purchase Price Earnest Money To be held by...Selling Broker Closing Agent Personal Check Note Other Default check only one Title Insurance Company Forfeiture of Earnest Money Seller s Election of Remedies a qualified closing agent of Buyer s choice 10. Closing Date on Closing 11. Possession Date 12. Offer Expiration Date 13. Counteroffer Expiration Date 14. Addenda 15. Agency Disclosure Selling Licensee represents 16. Services of Closing Agent for Payment of Utilities Listing Agent represents both parties neither party Requested Attach...NWMLS Form 22K Waived Buyer s Signature Seller s Signature Buyer s Address Seller s Address City State Zip Phone Fax Buyer s E-mail Address Seller s E-mail Address MLS Office No* Selling Licensee Print Listing Broker GENERAL TERMS continued unless otherwise specified in this Agreement. Buyer represents that Buyer has sufficient funds to close this sale in accordance with this Agreement and is not relying on any contingent source of funds or gifts except to the extent otherwise specified in this...Agreement. b. Earnest Money. Buyer agrees to deliver the Earnest Money within 2 days after mutual acceptance of this Agreement name provided that Buyer completes an IRS Form W-9. Interest if any after deduction of bank charges and fees will be paid to Buyer. Buyer agrees to reimburse Selling Broker for bank charges and fees in excess of the interest earned if any. If the Earnest Money held by Selling Broker is over 10 000. 00 Buyer has the option to require Selling Broker to deposit the Earnest...Money into the Housing Trust Fund Account with the interest paid to the State Treasurer if both Seller and Buyer so agree in writing. If the Buyer does not complete an IRS Form W-9 before be deposited into the Housing Trust Fund Account. Selling Broker may transfer the Earnest Money to Closing Agent at Closing* If all or part of the Earnest Money is to be refunded to Buyer and any such costs remain unpaid the Selling Broker or Closing Agent may deduct and pay them therefrom* The parties instruct...Closing Agent to 1 provide written verification of receipt of the Earnest Money and notice of dishonor of any check to the parties and licensees at the addresses and/or fax numbers provided herein and 2 commence an interpleader action in the Superior Court for the county in which the Property is located within 30 days of a party s demand for the Earnest Money and deduct up to 250. 00 of the costs thereof unless the parties agree otherwise in writing. wall-to-wall carpeting curtains drapes and...all other window treatments window and door screens awnings storm doors and windows installed television antennas ventilating air conditioning and heating fixtures trash compactor fireplace doors gas logs and gas log lighters irrigation fixtures electric garage door openers water heaters installed electrical fixtures lighting fixtures shrubs plants and trees planted in the ground and all bathroom and other fixtures.
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Guide to NWMLS Form 21 on pdfFiller
How to fill out a NWMLS Form 21 form
Filling out an NWMLS Form 21, which is the Purchase and Sale Agreement, is crucial for real estate transactions. To successfully complete this form, you should gather all necessary information and follow the structured guidelines provided by platforms like pdfFiller. This ensures that your agreement is legally sound and clear.
What is NWMLS Form 21 and why is it important?
NWMLS Form 21 serves as a vital Purchase and Sale Agreement in real estate transactions. Its importance lies in clearly defining the terms and conditions of the sale, protecting both buyer and seller rights throughout the process.
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Establishes a binding contract between parties involved in a real estate transaction.
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Clearly outlines the specifics of the property, including pricing and contingencies.
What specific terms should you know?
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Accurate dating is crucial to determine the timeline of the agreement and any deadlines for contingencies.
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Be sure to accurately list all parties involved to avoid any potential disputes.
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Include essential items like the MLS number and tax parcel to specify the exact property.
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List any appliances and features that are part of the sale to clarify expectations.
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Understanding the property's legal boundaries is vital for compliance and clarity.
What financial considerations are involved?
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Clearly stating the price is essential to avoid misunderstandings during negotiations.
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Earnest money is a deposit made to demonstrate serious intent to purchase; it is crucial for showing commitment.
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Understand typical fees involved in closing to prepare financially for the transaction.
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Securing title insurance is critical to protect against potential legal issues regarding ownership.
What are the procedures for submission and signing?
Using pdfFiller's platform to fill out NWMLS Form 21 simplifies the process greatly. You can easily enter relevant information, manage electronic signatures, and ensure all parties have the necessary documents.
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Utilize pdfFiller’s user-friendly interface to enter information efficiently.
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Save time and streamline the signing process with legally recognized electronic signatures.
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Follow a simple step-by-step guide on pdfFiller to submit the completed agreements to all involved parties.
What common mistakes should you avoid?
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Misreading the terms or the sections can lead to costly errors; ensure clarity.
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Failing to include necessary documents may delay or invalidate the transaction.
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Always double-check for accuracy before submission to avoid disputes.
What are the final steps in completing your agreement?
After filling out the NWMLS Form 21, it is imperative to double-check all entries to ensure accuracy. Make sure that all parties involved have signed off on the document and received their respective copies to prevent confusion moving forward.
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Ensure all details are filled accurately before finalizing.
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Confirm that all necessary parties have signed and retained copies of the agreement.
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Discuss the subsequent actions required for the transaction after the agreement is signed.
How can you leverage pdfFiller for document management?
pdfFiller provides collaborative tools that can enhance your document management experience. With access to editable templates, you can store, share, and manage your documents efficiently.
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Utilize interaction features for multiple team members to collaborate on documents in real-time.
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Easily store documents and share them securely with all relevant parties.
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pdfFiller simplifies the management of real estate documents, making the process more efficient.
Frequently Asked Questions about nwmls form 21
What happens if the buyer or seller backs out?
If either party decides to withdraw, the consequences would depend on the terms specified in the NWMLS Form 21, particularly regarding earnest money and contingency clauses.
How is earnest money handled?
Earnest money acts as a good faith deposit; it is typically held in an escrow account until the closing of the sale to assure commitment from the buyer.
Can electronic signatures be used legally?
Yes, electronic signatures are legally recognized in most jurisdictions, including real estate transactions, provided certain criteria are met.
What should I do if I realize I made a mistake after submission?
If a mistake is caught after submission, you should immediately contact the involved parties to negotiate corrections and potentially amend the agreement.
How can pdfFiller assist in managing contracts?
pdfFiller enables users to edit, sign, and store contracts all in one platform, facilitating easy access and streamlined management for real estate transactions.
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