Sign Florida Travel Agency Agreement Secure

Esigning car purchase agreement template

today I'm going to show you how to write up a purchase agreement in DocuSign so first we're going to start here in your command and we're going to assume that you have already created a contact for your buyer and that you have also created an opportunity for this specific property that you're going to be putting in an offer on so once you click on your opportunity you will automatically be brought to this details page we are going to click over to the documents tab and then all the way on the right-hand side you're going to click on go to transaction or start a transaction if this is your first time inside the opportunity now you're going to be brought in to DocuSign and here we're already in the documents tab so you're going to go on the right-hand side and click on this blue Add button and click DocuSign forms this is going to bring up a DocuSign forms library where you can select our markets enter two nine seven and you'll see all of our markets under documents pop-up here now you can type and find the offer to purchase or alternatively you can select a design forms group and you'll have the option for a listing packet or a sales packet and since we're writing up an offer we can click on the sales packet and we can select all click Add and all of these documents will be pulled into our room now we can go over to the offer to purchase and click on that document and here we are inside of our purchase agreement now you'll see that the buyer named Joe buyer has Auto populated since I filled that information out in the details tab of DocuSign the property address has also Auto populated it again because I had prefilled that out so we have 1 2 3 main street in Cleveland Ohio and the next thing you'll have to fill out is the permanent parcel number so you can just type that in here and then the next section discusses some fixtures that are included with the property and then on line 7 there's a box for you to fill in where you'll want to put the word all this refers to all controls such as keys and remotes and you want the buyer to have control of those after title transfer and then there's a list of other items that you can check off if they will be remaining with the property so you'll want to refer to the MLS listing to see what the seller is offering but you can click and select so for this example we'll say arrange in oven a microwave refrigerator a dishwasher and a washer/dryer if there's anything else additional that is not included here you can add that in the also included section however I would discourage you from adding too many chattel items as lenders typically also discourage that but this is a good area if you have any seller concessions that you'd like to add or if you'd like to state that the property needs to transfer point-of-sale compliant you can indicate that here so for this example we'll say that the seller is to contribute 3 $3,000 towards buyers and closing costs if there is anything that is specifically not included so if the brokerage remarks maybe states that there is a chandelier that's not included with the property you can indicate that here and make sure that all parties are aware that item is not going to remain with the property and then we have the secondary offer section so this would occur if there is already an accepted offer on the property so it's contingent or pending in the MLS but your buyer still wants to make an offer think of it as a backup offer so your offer is secondary to the primary offer that has already been accepted on the property so if that is the case here you will check off that this is a secondary offer and if it's not you will say it is not so in this example we're going to say it is not and then we will move on to price so this is where you'll include the buyers offer price so for this example where you're going to say $300,000 and then the earnest money amount which is typically one percent of the purchase price so we'll say three thousand dollars and then you will have to check off whether this is going to be a check or a note to be redeemed so in this example we will say it is a note and then of course just make sure that you actually include a note with your offer and you can get that document from your DocuSign forms library line 28 also states that Ohio law requires deposits to an escrow agent in excess of $10,000 to be conveyed by wire transfer so that's something to note if you have a situation where your buyers earnest money deposit is in excess of $10,000 be sure that they are aware that they will have to make that by wire and then you can include the cash down payment either in a percentage form or an amount form so let's say we know our buyer is putting 20% down we can just write that in there and then the mortgage loan to be obtained by buyer you can calculate or you can just indicate that once line 31 you are going to need to check off the type of financing that your buyer is securing for the purchase so you have the option for conventional and FHA VA loan could be a - purchase or other - some example of others maybe if it's a physicians loan or a 203k loan you would check that here and write that in so with this example we are going to say it is a conventional loan and then we'll move into the financing section so this offer is conditioned upon fire-making written application for the above mortgage loan within blank number of days after acceptance so five to seven days is typical for your buyer to make loan application so we will put seven here and then they must obtain a written commitment for that loan on or about and then 30 days is typical for your buyer to receive loan commitment so we will put August 720 and then the remainder of the financing section states that if the buyer is unable to obtain loan commitment despite good-faith efforts the contract will be null and void and earnest money will be returned to the buyer upon signing of a mutual release it does go on to also lay out what would occur in the event of an earnest-money dispute so if that situation does arise you'll want to refer to this section now if your buyer is putting in a cash offer obviously financing will not be applicable so you can just write n/a or not applicable in these two boxes here for the closing section we'll have to fill in this area here so all funds and documents necessary for the completion of this transaction shall be placed in escrow and honor before 45 days is typical if your buyer is going to be securing a loan so for this example let's say the 20th of August and then title transfer typically occurs about 1 day later we can do the next day the 21st and also make sure that you're referring to a calendar when you're filling out these dates to make sure that they don't fall on a weekend or a holiday because banks and title companies in the county they all need to be open on these days for these items to occur and then the possession date that can occur on the same day is title transfer or it can be a day or two later so we'll say zero days after recording of the deed or 821 920 and then you'll see a note stating that the seller agrees to maintain utilities up to the date of title transfer and buyer agrees to transfer utilities as of the date of title transfer so just make sure your buyer is aware that they will have to transfer utilities effective this date here the next section discusses title and which title company will be used for the transaction you will just have to check off if you are selecting GM title in escrow which is our title company affiliate or if you'll be checking off this box and writing in your own title company of choice either way is fine and then the proration section lays out a number of different items including tenant security deposits which states that they will be credited to the buyer through escrow rents taxes assessments homeowners association fees if any shall all be prorated by the escrow agent as of the date of recording of the deed there is also a disclaimer in this section advising all parties to consult the county auditor's office regarding the status of property taxes and then there are instructions for new construction advising the escrow agent to make a good-faith estimate of taxes in that instance so the area that you will need to fill out though is here on line 69 stating that the escrow agent shell withhold blank from seller to secure payment of final water and sewer charges so $200 is typical to input here and unless you're dealing with a larger property you may want to increase that amount slightly then you will also have to check off if the buyer or seller is going to be responsible for the amount of in agricultural tax recoupment so this would be if you are dealing with an Agri cultural property so in this case we learn odd so we're just going to indicate the seller and we are going to move on to the charges and escrow instructions so this is another section really geared toward the title company to refer to when they're writing up their closing documents so as you can see it states that the sellers shall pay the following cost through escrow and then there is a list of those costs that they're responsible for and then the buyer shall pay the following through escrow and there's a list for them as well so there are two lines here with that state other so if there is anything other that you're aware of that the buyer or seller will be paying you can indicate that here otherwise you can write in none and one other thing to note is that one of the charges the buyer is responsible for is an additional Commission fee of $199 since they buyer is going to be represented by Keller Williams greater metropolitan is where that is stated in our contract then if there is going to be a home warranty involved in the transaction you will indicate that here so refer to the mls to see if the seller is offering one and if so contact the listing agent to get the information about that or the buyer can always request one so let's say that the buyer is going to request a home warranty to be provided from our affiliate which is America's preferred and then you'll have to refer to the warranty brochure for the pricing so for this example we'll say it's for 25 and we will also say that it's going to be charged to the seller although it could be charged to the buyer that's a negotiation point that you'll have to work through and then this next section authorizes the escrow agent to send closing disclosures so at the very least since you're representing the buyer in this case you're going to want to receive a copy of the buyers closing disclosure so here we're going to check off that the selling broker will receive a copy of the buyers executed closing to school now we get into the inspection section so there is a bold disclaimer here that you'll want to read through and it states that if fire does not elect inspections Beier acknowledges that buyer is acting against the advice of buyer's agent and broker it goes on to say that the parties agree that the brokers and agents do not guarantee and in no way assume responsibility for the property's condition so essentially we highly recommend that our buyers have an inspection performed so if the buyer is going to opt to have an inspection performed we are going to proceed on here and you're gonna check yes for a general home inspection now typical timing is 7 to 10 days to have these inspections completed so we will do 7 days and it's typically a buyer expense there are only a few rare occasions when a seller would pay for an inspection one of which would be if there is a fire securing a VA loan they must have a pest inspection completed and that must be paid for by the seller so you would indicate that here now the other inspections are septic so if the property has a septic system you will probably want to have that inspected and you may also want to refer to the county that the property is located in for any additional inspections that may be required there water potability and well flow rate would be applicable if you're dealing with a property that has private water so well you would probably want to have that inspected so for this example we're going to say no to these items and then a radon inspection radon is an odorless colorless gas and it can have negative health effects if it's at a certain level in a home so a lot of buyers will want to have that inspected force so we will say yes to that within seven days and paid for by the buyer you can have a mold inspection but we'll say no to that no to past no to lead-based paint in this example and then we always check off yes for other and then give yourself a few extra days so you 10 to 14 days is typical for this and we'll charge that to the buyer and then we're going to specify that this is as deemed necessary by general inspector so this just covers your buyers in the event that the general home inspector uncovers something wrong with the roof let's say and they recommend that a roofer come out and inspect it so this other section will give you your buyer the ability to have a specialist come out and take a look at that ok if you are opting to have a pest inspection completed in this paragraph here you will have to check off whether the buyer or the seller will be responsible for the repairs and treatment costs and then there is a lead-based paint section this just really urges the buyers to read over the EPA pamphlet protect your family from letting your home for more information about the dangers of lead-based paint and then there is a waiver section this states that the buyer elects to waive each professional inspection to which the buyer has not indicated yes so on any of these inspections up here where we indicated know the buyer is waiving those so they will have to initial off on that the following section that lays out what occurs after the completion of the last inspection so within 3 days after the completion of the last inspection the buyer has three options one they can remove the inspection contingency and accept the property in it's as is present condition 2 they can accept the property subject to the seller agreeing to have specific items identified in a written inspection report repaired by a qualified contractor or three they can terminate the agreement so this is where you will write up your removal of contingency amendment which is a document again that you can find in our DocuSign forms library and you can bring it in and edit right on that document and then this section starting at line 148 lays out what occurs after the removal of continues contingencies is presented to the seller so the seller and buyer have three days from the sellers receipt of written list of defects and inspection report to agree in writing to which defects if any will be corrected so essentially after the inspections are completed you have three days to submit your removal of contingencies and then you have three days after that to come to terms on what's going to happen moving forward and then this last section here at the bottom of page three states that the parties may agree in writing to extend the dates for inspections repairs or the deadline for terminating the agreement so if you find that you're going to be exceeding the timelines laid out here in the purchase agreement you can always agree in writing have the buyer and seller both sign in addendum you know stating to extend those dates this next section discusses the lead based paint disclosure and residential property disclosure and the buyers acknowledgement of receiving those documents so if the property is built prior to 1978 you will need to lead based paint disclosure so here you're going to check off whether your buyer has or has not received that document so in this case we'll say that they have now you may run into some situations where you your buyer is purchasing a property that was built after 1978 so the lead based paint disclosure is not applicable in that situation so you can check off that they have not received it and then you can always include a text box just explaining you know that applicable home built in such-and-such year and then the property disclosure area the same thing here you're going to check off whether your buyer has or has not received the residential property disclosure if they have you'll check that off and then there's a box here for you to input the date on which the seller signed that document if they have not reviewed a residential property disclosure form before putting in their offer just make sure your buyer is aware that this offer is subject to the seller completing the residential property disclosure form and the buyers review and approval of the information contained on the disclosure form and you'll have to indicate within how many days from receipt so you want that it to occur relatively quickly so two to three days is typical for you to input in there if that were the case so the residential property disclosure form and the lead based paint disclosure should be found in the MLS in the supplements tab and those can be downloaded as PDFs and then uploaded into DocuSign for you to fill out and have your for you to put the signature fields in to have your buyer sign so if you can't locate those documents always contact the listing agent now the representations and disclaimer section just states that the buyer acknowledges that seller has completed the ohio residential property disclosure form and agrees to hold the broker and their agent time was from any misstatements errors or omissions made by seller it goes on to say that the buyer has not relied on any representations by the broker and/or agents so if the buyer is not relying on any representations that you have made you are going to indicate none here now the damaged section discusses what happens if a property is damaged while under contract so if you find yourself in that situation certainly refer to this paragraph the electronic data security section urges parties to confirm wire instructions directly with the lender or escrow agent the parties also agree to release the brokers and agents involved in this transaction from any and all liability related to any unlawful breach of electronic data by a third party and then the binding agreement this states that the days in the agreement should be defined as calendar days so these are not business days so make sure you're aware that if you put that you have seven days for an inspection to be completed that does include the weekend and then acceptance shall occur when the latter of the parties signs the agreement also goes on to state again that this is a legally binding agreement and parties agree to direct any questions of law to an attorney now for the agenda you will need to check off any documents that will be included in your offer so an agency disclosure form should always be included a residential property disclosure form again should be included unless it's a new construction home or if there are any other exemptions in which case you would want to have a residential property disclosure exemption form filled out if your buyer is securing it a VA or an FHA loan make sure you have the proper identity R if the property is a condo we have a condo addendum and a condo acknowledgment form that you can include a walkthrough addendum is always good practice to include just to ensure our buyers that they are protected and we allow them to walk through one last time prior to closing if there is a house sale contingency or concurrency situation make sure that you have the proper agenda there again a lead-based paint addendum is necessary if the property's built prior to 1978 and then you're affiliated business disclosure if there's anything other you can check this off and indicate that here and then you'll see online 225 and 227 there are spaces for your buyers to sign you can include the buyers contact information if you like if it has an auto bold and then the deposit receipt this just confirms your receipt of the buyers earnest money deposit in the form of either a check or a note so we stated that our earnest money was going to be in the form of a note made payable to the escrow agent we always deposit our earnest money with an escrow agent since they're an independent third party in the transaction if for some reason that you you would need to have the broker hold on to it you have to talk to our MCA office for an exception there and again this section just states that if the earnest money is going to exceed $10,000 then it must be made via a wire transfer so here you're going to fill in your office name your phone number and then the acceptance section discusses commission amounts so you'll want to check the MLS for the Commission amount that the listing agent is offering the buyers broker so let's say in this case it's 3% we'll write that in here and then this is the area for the listing agents Commission so we won't know what that is but you can write per listing agreement or something to that effect and you can write the brokers name brokers address and then you'll see this is the area that these sellers will sign once they accept your buyers offer and then the last section includes selling agent information so that's your information that you're going to want to fill in there our office information is already included and then the listing agents information which again you can get from the MLS and it's best to fill out this section it as entirely as possible just to ensure that everyone has the contact information in any event that they would need to reach you or the listing agent so once everything is filled out and looks good we are going to hit save and close now from here you can select just that document or if you wanted to select all you come up here and select all to send to your client to sign in this case we'll just select our offer to purchase to have our client sign we're going to come up here and you'll see some icons have appeared one of what just DocuSign where you're going to click that icon and that's going to take us into our envelope and we are can name our envelope so you remember what is actually in here so we can write offer to purchase 1 2 3 Main Street it's perfect if you forgot any room documents that you want to pull in now would be the final time to do that and then we're going to add a recipient so we are going to add our buyer as a recipient to be able to sign these form so we're going to add recipient from pre tag roles and we just had one buyer in this example so we'll select buyer 1 and we will select Joe buyer if you had two buyers you would select buy or two and then select on the drop-down your second recipient and then you'll click Add selected you'll also want to make sure that your buyer has signing capabilities so keep that as needs to sign and then you can customize your email subject and an email message okay once that all looks good you will hit this next button in the upper right hand corner and you will be brought into this final review stage so all of the text that you've already input should be here anything you've checked off should be here reflected and then you'll see that the buyers initial boxes have Auto populated because DocuSign recognized that this is buyer one and that they needed to pull in an initial box here so you're going to go through your document double check to make sure that initial boxes are all where they need to be in this case you're going to only want your buyer to initial one of the two so if you want to delete in the initial box you can click it and click delete once you've confirmed everything looks good and nothing needs to be added you would go ahead and click the send button and you would send these documents to your client if anything did needed to be added you do have the option over here on the left hand side under standard fields to add in additional signatures initials text boxes checkboxes you could do any final edits here and then you would click send off to your clients