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Contract for Sale and Purchase of Real Estate Without Broker

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CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE
(NO BROKER)

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,

, “Seller” whether one or more,

and

, “Buyer” whether one or more,

do hereby covenant, contract and agree as follows:

1. AGREEMENT TO SALE AND PURCHASE: Seller agrees to sell, and Buyer agrees to buy from Seller the property described as follows:

County, Michigan.

Address:

Legal Description (or see attached exhibit):

As described in attached Exhibit.

Together with the following items, if any: (Strike items to be retained by Seller) curtains and rods, draperies and rods, valances, blinds, window shades, screens, shutters, awnings, wall-to-wall carpeting, mirrors fixed in place, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system with controls and equipment, permanently installed heating and air-conditioning units, window air-conditioning units, built-in security and fire detection equipment, plumbing and lighting fixtures including chandeliers, water softener, stove, built-in kitchen equipment, garage door openers with controls, built-in cleaning equipment, all swimming pool equipment and maintenance accessories, shrubbery, landscaping, permanently installed outdoor cooking equipment, built-in fireplace screens, artificial fireplace logs and all other property owned by Seller and attached to the above described real property except the following property which is not included (list items not included):

All property sold by this contract is called the "Property."

2. SALES PRICE: The parties agree to the following sales price:

Amount Amount
Purchase Price
Earnest Money
New Loan
Assumption of Loan
Seller Financing
Cash at Closing
Total (both columns should be equal)

Both columns should be an equal amount.

3. FINANCING: The following provisions apply with respect to financing:

CASH SALE: This contract is not contingent on financing.

OWNER FINANCING: Seller agrees to finance dollars of the purchase price pursuant to a promissory note from Buyer to Seller of $ , bearing % interest per annum, payable over a term of years with even monthly payments, secured by a deed of trust or mortgage lien with the first payment to begin on the day of , 20 .

NEW LOAN OR ASSUMPTION: This contract is contingent on Buyer obtaining financing.

Within days after the effective date of this contract Buyer shall apply for all financing or noteholder's approval of any assumption and make every reasonable effort to obtain financing or assumption approval.

If financing or assumption approval is not obtained within days after the effective date hereof, this contract will terminate and the earnest money will be refunded to Buyer.

If Buyer intends to obtain a new loan, the loan will be of the following type:

Conventional VA FHA Other:

FHA. ... appraised value of the Property of not less than $ .

VA. If Buyer is to pay the purchase price by obtaining a new VA-guaranteed loan ...

Existing Loan Review. If an existing loan is not to be released at closing, Seller shall provide copies of the loan documents to Buyer within calendar days from acceptance of this contract.

If lender's approval is not obtained on or before this contract shall be terminated on such date.

Credit Information. Seller's approval of Buyer's financial ability and creditworthiness ...

Buyer shall supply to Seller on or before , at Buyer's expense, information and documents concerning Buyer's financial, employment and credit condition.

If Seller does not provide written notice of Seller's disapproval to Buyer on or before , then Seller waives this condition.

4. EARNEST MONEY: Buyer shall deposit $ as earnest money with upon execution of this contract by both parties.

5. PROPERTY CONDITION:

SELLER’S DISCLOSURE STATEMENT: By initialing below, Buyer(s) acknowledge(s) that a Seller Disclosure Statement has been provided to Buyer(s).

Buyer(s) Initials:

SELLER’S DISCLOSURE OF LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS is required by Federal law for a residential dwelling constructed prior to 1978.

An addendum providing such disclosure is attached

is not applicable.

Buyer hereby represents that he has personally inspected and examined the above-mentioned premises and all improvements thereon...

Buyer accepts the property in its "as-is" and present condition.

Buyer may have the property inspected by persons of Buyer's choosing and at Buyer's expense.

All inspections and notices to Seller shall be complete within days after execution of this agreement.

Buyer accepts the Property in its present condition; provided Seller shall complete the following repairs and treatment:

If the subject residential dwelling was constructed prior to 1978, Buyer may conduct a risk assessment or inspection ... to be completed within days after execution of this agreement.

MECHANICAL EQUIPMENT AND BUILT IN APPLIANCES: All such equipment is sold "as-is" without warranty, or shall be in good working order on the date of closing.

Any repairs needed to mechanical equipment or appliances, if any, shall be the responsibility of Seller Buyer.

UTILITIES:

Water is provided to the property by , Sewer is provided by .

Gas is provided by . Electricity is provided by .

Other:

The present condition of all utilities is accepted by Buyer.

LAND DIVISION ACT: (For unplatted land only.)

The grantor grants to the grantee the right to make division(s) under section 108 of the land division act.

6. CLOSING: The closing of the sale will be on or before unless extended pursuant to the terms hereof.

7. TITLE AND CONVEYANCE: Seller is to convey title to Buyer by Warranty Deed or .

General taxes for the year and subsequent years and other: .

8. APPRAISAL, SURVEY AND TERMITE INSPECTION:

Any appraisal of the property shall be the responsibility of Buyer Seller.

A survey is not required required.

The cost shall be paid by Seller Buyer.

A termite inspection is not required required.

9. POSSESSION AND TITLE:

Title shall be conveyed to Buyer, if more than one as Joint tenants with rights of survivorship, tenants in common, Other: .

10. CLOSING COSTS AND EXPENSES:

Closing Costs Buyer Seller Both*
Attorney Fees
Title Insurance
Title Abstract or Certificate
Property Insurance
Recording Fees
Appraisal
Survey
Termite Inspection
Origination fees
Discount Points

11. PRORATIONS: Taxes for the current year, interest, maintenance fees, assessments, dues and rents, if any, will be prorated through the Closing Date.

12. CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty loss after the effective date of the contract, Seller shall restore the Property to its previous condition as soon as reasonably possible.

13. DEFAULT:

If Seller fails within the time allowed to make any non-casualty repairs or deliver evidence of clean title, Buyer may either extend the time for performance or terminate this contract.

14. ATTORNEY'S FEES: The prevailing party in any legal proceeding brought under or with respect to the transaction is entitled to recover costs and reasonable attorney’s fees.

15. REPRESENTATIONS: Seller represents that as of the Closing Date there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds unless securing payment of loans assumed by Buyer.

16. FEDERAL TAX REQUIREMENT: If Seller is a foreign person, Buyer shall withhold the required amount.

17. AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties and cannot be changed except by their written agreement.

18. NOTICES:

To Buyer at:

Telephone ( )

Facsimile ( )

To Seller at:

Telephone ( )

Facsimile ( )

19. ASSIGNMENT: This agreement may not be assigned by Buyer without the consent of Seller.

20. PRIOR AGREEMENTS: This contract incorporates all prior agreements between the parties...

21. NO BROKER OR AGENTS: The parties represent that neither party has employed the services of a real estate broker or agent.

22. EMINENT DOMAIN: If the property is condemned by eminent domain after the effective date hereof...

23. OTHER PROVISIONS

24. TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THIS AGREEMENT.

25. GOVERNING LAW: This contract shall be governed by the laws of the State of Michigan.

26. DEADLINE LIST (Optional) (complete all that apply).

Deadline Date
Loan Application Deadline, if contingent on loan
Loan Commitment Deadline
Buyer(s) Credit Information to Seller
Disapproval of Buyers Credit Deadline
Survey Deadline
Title Objection Deadline
Appraisal Deadline
Property Inspection Deadline

EXECUTED the day of , 20 (THE EFFECTIVE DATE).

Buyer

Buyer

Seller

Seller

RECEIPT

Receipt of Earnest Money is acknowledged.

Signature: Date: , 20

By:

Address

Telephone ( )

Facsimile ( )

EXHIBIT FOR DESCRIPTION OR ATTACH SEPARATE DESCRIPTION

RECEIPT

Receipt of Earnest Money is acknowledged.

Signature: Date: , 20

By:

Telephone ( )

Address

Facsimile ( )

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What the Contract for Sale and Purchase of Real Estate Without Broker Is

The Contract for Sale and Purchase of Real Estate Without Broker is a legally binding agreement used when a buyer and seller transfer residential or commercial property without engaging a licensed real estate broker. The document sets the purchase price, deposit and financing terms, property description, closing date, title and contingency provisions, allocation of closing costs, and default remedies. It records the parties' obligations and creates enforceable rights once properly executed and delivered. Parties often use this template to reduce commissions, but must ensure compliance with state real estate law, disclosure rules, and notarization requirements.

Why Use this Broker-Free Sale and Purchase Contract

Use the Contract for Sale and Purchase of Real Estate Without Broker to document seller and buyer obligations, confirm consideration, and set closing mechanics without broker involvement. The template reduces negotiation friction and clarifies contingencies while preserving remedies and state-law protections.

Why Use this Broker-Free Sale and Purchase Contract

Who Commonly Uses This Contract

Typical users include private sellers, individual buyers, investor-owners, and small developers who prefer direct negotiation and lower transaction costs.

  • For-sale-by-owner sellers seeking to avoid broker commissions and manage closing directly.
  • Buyers comfortable performing title review and inspections without broker representation or referral.
  • Small investors acquiring single properties where professional brokerage is unnecessary or cost-prohibitive.

Even when parties proceed without a broker, consulting title companies or legal counsel is recommended for disclosures, recording, and closing coordination.

Step-by-Step: Completing the Contract for Sale and Purchase of Real Estate Without Broker

Follow these sequential steps to complete the Contract for Sale and Purchase of Real Estate Without Broker accurately and to prepare for closing.

  • 01
    Prepare Document: Assemble contract, exhibits, and required disclosures for the property.
  • 02
    Review Title: Order title search and resolve defects before signing.
  • 03
    Execute Signatures: All parties sign and date; notarize where state requires.
  • 04
    Close & Record: Complete funding, record deed, and deliver possession per agreement.

How to Configure an Online Signing Workflow

Configure an electronic workflow to collect signatures, authentication, and delivery receipts when using an eSignature platform.

Field Configuration
Authentication Email or SMS codes; KBA for high-assurance
Signing Order Parallel or sequential routing per parties
Notifications Email confirmations and final signed PDF delivery
Storage Save signed copies in cloud storage or export to PMS
Audit Trail Capture IP, timestamps, and action history

Where to File, Send, and Submit the Signed Contract

Routing, submission, and recording steps for parties completing the contract without broker intervention are summarized below.

  • Prepare Package: Compile contract, disclosures, title report, and exhibits.
  • Deliver to Buyer: Provide buyer with executed copy and inspection reports.
  • Escrow Submission: Deposit earnest money and escrow instructions with title company.
  • Record Deed: Title company records deed and mails recorded documents to parties.

Digital Signing and eSubmission Requirements

For digital signing and eSubmission, verify the platform supports secure authentication, signed PDF export, and long-term audit trails for record retention.

  • File Formats: PDF, DOCX, and printable records
  • Integrations: Integrates with title and escrow systems and CRMs
  • Security: TLS 1.2/1.3 and AES-256 at rest

Security and Compliance Essentials

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest
Audit Trail: Timestamps, IPs, action history retained
HIPAA: BAA required for PHI handling
ESIGN/UETA: Electronic signature legality across U.S. jurisdictions
21 CFR Part 11: Supports compliant workflows for FDA-regulated records
Access Controls: Role-based access and SSO/SAML options

Key Contract Components to Include

Core clauses in the Contract for Sale and Purchase of Real Estate Without Broker define price, contingencies, title obligations, closing mechanics, risk allocation, and remedies.

Purchase Price

Specifies total consideration, deposit schedule, financing terms, and whether personal property is included. Clear allocation avoids later disputes and assists prorations at closing and title coordination.

Contingencies

Details inspection, financing, appraisal, and title contingencies, including deadlines and cure rights. Define the process for notice, cure periods, and contract termination to avoid ambiguity.

Title and Closing

Allocates responsibility for obtaining marketable title, title insurance, closing agent, recording costs, prorations, and final disbursements; set standards for acceptable title and resolution of defects pre-closing.

Seller Representations

Seller disclosures and warranties about ownership, liens, violations, and known defects. Include survival period and remedies for breach to protect buyer interests and indemnification where applicable.

Risk of Loss

Specify when risk of loss transfers (contract date, inspection, closing), insurance requirements, and obligations if damage occurs before closing, including repair, credit, or termination options and notice protocols.

Default & Remedies

Set remedies for breach, earnest money forfeiture, specific performance, cure periods, attorney fees allocation, and dispute resolution method including mediation, arbitration, or court venue and costs shifting provisions.

Common Preparation Pitfalls to Avoid

  • Incomplete property descriptions or mismatched legal names can delay recording, trigger title objections, and increase closing costs if not corrected before funding.
  • Failing to include required state disclosures or mandatory lead-paint, flood, or hazard notices may expose the seller to liability and rescission claims.
  • Using informal handwritten amendments or unsigned addenda can render provisions unenforceable and create later disputes about parties' intent.
  • Neglecting tax forms, missing a correct TIN on W-9, or failing to report may trigger IRS backup withholding or penalties.

Penalties and Risks of an Incorrect Contract

Recording Rejection: Deed rejected or returned
IRS Withholding: Backup withholding 24% if TIN missing
Civil Liability: Fraudulent omission may trigger rescission
Title Defect: Unclear title can delay closing
Contract Voidance: Improper signatures may void agreement
Penalties & Fines: State fines or professional sanctions possible

eSignature Pricing Comparison for Use with This Contract

Sign and manage the Contract for Sale and Purchase of Real Estate Without Broker using a platform that meets legal and operational needs; pricing and feature availability vary by vendor and plan.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial Yes, 7-day trial No No Yes, limited Yes, limited
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently Asked Questions — Contract for Sale and Purchase of Real Estate Without Broker

Answers to common questions about completing, signing, and validating the Contract for Sale and Purchase of Real Estate Without Broker are collected below.


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