The real estate industry has many applications and forms that must be properly completed in order for agents and brokers to comply with state and federal laws and regulations. Without a thorough knowledge of the standard real estate applications and forms, many problems, or even lawsuits, could result down the road. The basic real estate forms and applications include not only contracts, but also addends, notices and disclosures required by state or federal law.
Real estate contract formsReal estate contract forms are the agreements or contracts necessary to purchase real estate. They are different for residential real estate, agricultural real estate and commercial real estate. Each state has different requirements for each class of real estate purchase agreement, so be sure to use contracts specific to your state and type of property.
Real estate lease formA real estate lease form is an agreement to lease a particular property for a certain amount of money for a specific amount of time. The lease can be for different types of real estate: residential, commercial or agricultural. Each type of property requires a different form, and each state may have different regulations regarding leases.
Offer to purchaseThe offer to purchase is the first form filled out after a buyer finds a property to purchase. The offer will eventually turn into the purchase contract if it is accepted, so it's important that all details of the purchase are included in the initial offer. The form should clearly state price, expected financing, inspections and any closing contingencies.
Buyer agency agreementA buyer agency agreement, or contract, is between the buyer and the agent or agency that is helping her or him find a property. These agreements should specify if it is an exclusive agreement or non-exclusive, what the purpose of the agreement is, the duration of the agreement, the services expected of both the agent and the buyer and clearly state any form of compensation expected.
Real estate complaint formReal estate complaint forms are handled by the state in which the agent or broker is licensed. Each state has a different process and form, but reporting complaints is important for maintaining industry standards.
Real Estate Settlement and Procedures Act (RESPA) disclosuresRESPA requires that real estate buyers who borrow money receive disclosures at various times throughout the closing process. The disclosures are basically designed to disclose any costs associated with the real estate closing and any business relationships between settlement service providers and others involved in the closing or deal.
U.S. Department of Housing and Urban Development, or HUD, explains which types of disclosures agents are required to make.