If you will be buying a house, you should be ready for all the paper works that you have to accomplish to complete the process of real estate investment. Yes, it seems really boring but you have no choice, paper works are necessary parts of the process. The papers and the documents you have to sign and fill up signify that what you are getting into is a real, legal and official transaction under the state law. For example, you are planning to buy a Plymouth Meeting real estate so you decided to search through the internet quality listings of Plymouth Meeting homes for sale. Using the online Plymouth Meeting MLS, you see the house you want and fortunately, it falls within your budget. You contact the agent and start visiting the house you like. As the process goes on, there are documents and forms that you will have to read and fill up to make the investment process as smooth and as legal as it can be.

Real estate sales contract

This document identifies the particular property for sale and the amount that the buyer wil have to pay for it. In addition, it is stated in the contract the amount and the kind of mortgage that the buyer will need. It is also written in the contract the buyer’s right to have a home inspection of the property. There are different terms for this type of contract in various states. For instance, in the Texas state, it is referred to as Residential Sales Contract. On the other hand, this form is known in Colorado as Contract to Buy and Sell Real Estate.

Offer to Purchase Agreement

This is another similar form for Real Estate Sales Contract. The buyer utilizes this form whenever he or she makes an offer to the property being sold.

Seller’s Disclosure

This is a legal requirement from every state and this form indicates all the problems and possible hazards of the house that the seller is aware of.

Escrow Agreement

This agreement is a way for both the buyer and the seller to have a third party that will manage the financial activities and other transactions. It is also included in this agreement are the payments or deposit fees given back to the buyer or the amount of money already given to the seller.

Lead-based Paint Addendum

This form is very necessary especially if the property for sale was built in 1978 or older years. Every property needs to be inspected to identify all the danger of the lead based paint that was use in the house. Sellers should be able to reveal to the buyer any current or possible problems of the house in terms of the paint used in it.

Homeowner’s Association Disclosure

If the house you are going to buy is located in a very organized neighborhood or village, there are higher chances that you will be required to join its homeowner’s association. If this is the case, the seller of the property should disclose to you all the requirements and rules set by the association.

You should know that each state have specific laws regarding real estate investment so you should be knowledgeable of these rules if ever you will be transacting in another state where you are unfamiliar of the laws.