Are you considering purchasing real estate in Hawaii in 2019? If so, it`s important to understand the Hawaii Real Estate Purchase Contract, a legal document that outlines the terms and conditions of the sale.
The current version of the Hawaii Real Estate Purchase Contract, as of 2019, is known as Form 35. This standardized form is used by real estate agents and attorneys throughout the state to ensure consistency and clarity in real estate transactions.
The Hawaii Real Estate Purchase Contract includes important information such as the parties involved in the sale, the property being sold, and any contingencies or conditions of the sale. It also outlines the deadlines for various actions, such as completing a home inspection or securing financing.
One important contingency included in the Hawaii Real Estate Purchase Contract is for the buyer to obtain a title search and title insurance. This protects the buyer from any outstanding liens or claims on the property, and ensures that they have clear ownership of the property after the sale.
Another important feature of the Hawaii Real Estate Purchase Contract is the option for the buyer to include a contingency for the sale of their current property. This allows the buyer to back out of the sale if they are unable to sell their current home within a specified timeframe.
It`s important for both buyers and sellers to carefully review the Hawaii Real Estate Purchase Contract before signing, as it is a legally binding agreement. It`s also recommended to have an experienced real estate attorney review the contract to ensure that all terms and conditions are fair and equitable.
In conclusion, if you`re planning to purchase real estate in Hawaii in 2019, it`s essential to understand the Hawaii Real Estate Purchase Contract. This legal document protects both buyers and sellers, and ensures a smooth and successful real estate transaction.