6 Essentials That Real Estate Contracts Must Have to be Valid and Enforceable
1 . Must be in writing -except for leases of 1 year or less 2 . Competent parties -must be at least 2 parties of legal age 3 . Names and Signatures of all parties to the contract 4 . Consideration -such as a promise to pay money 5 . Address of property and / or legal description 6 . Meeting of the Minds -the seller clearly understands the terms of the buyer ' s offer and the buyer clearly understands the performance required . The parties involved in a real estate transaction are advised to seek the services of an experienced real estate attorney to review the Agreement to Purchase .
The above checklist is not a substitute for legal , tax , or other professional advice