Get the free glvar residential purchase agreement 2019 form

Okay so the first thing you need to know about the purchase agreement is there's different scenarios today's scenario would just use something like leave the sale price of $285,000 we'll say it's an FHA loan 5% down and that's pretty self-explanatory we'll go through but that's that's that's a good standard just entered for what we're doing all right so get right into it a date I'm gonna write it as UPS today I'm going to pretend I'm writing this offer as okay so today's date 16 my fire is commune ash their property address is 410 Nevada way the city of Boulder City County of Clark zip code 8 905 APN of that purchase price the offer will be two hundred eighty five thousand and right here it's going to ask you does the buyer intend to occupy or not occupy this is important because this determines if it's an investment property or an owner-occupied remember a lot of people look at this purchase agreement it's not just between the buyer and the seller it's for the escrow company the mortgage company everybody kind of needs to see it so the fire does intend to occupy now we get into kind of page 1 and page 1 page 1 is really the most important page because this like really determines the money all right so section a here earnest money deposit we're going to put in here twenty five hundred dollars and at any time any you can please just stop me and ask me why is something the way it is or or how is it now harness money is either presented with the offer meaning you have a check in your hand that you can present with with the offer um or what sometimes people have been doing a lot lately please we will put to be wired into escrow upon acceptance and uh that's been a little bit more common lately because everybody's wire transfer money malleable okay very untypical that we're going to use an additional deposit so we typically don't use an additional deposit that's very rare but line see is where we get into the loan amount and this is very typical all right so we need to do a little bit of figuring here remember that we went back to this and we said that we're putting down three and a half percent right so if we're putting down three and a half percent it means we're borrowing the loan amount would be ninety six point five percent or ninety six point five percent times 285 with the 275 three this amount right here so our moment along 275 po2 class right that makes sense we're putting down three and a half percent we're borrowing ninety six point five percent so that's our loan amount now it's an FHA loan with the fixed interest rate for thirty years interest not to exceed one f of five x and we'll put four point five because we know right now today the interest rate is like four do you ever take a quarter percent um so we're going to put in four point five not-to-exceed now we have to go ahead and figure out that monthly payment we do that on our calculator you one put for four and a half percent interest thirty years our payments on that is 1388 so...