Residential real estate refers to any property used for housing. These include family homes, cooperatives, duplexes, and condos where the investor or a party renting the property lives in. This type is ideal if you are looking to start building your dream home or begin a family. In purchasing any Real Estate property, especially for the residential, you need to secure your Residential Real Estate Purchase Agreement. In doing this, you don’t need to undergo the tedious process of doing this from scratch. Our site offers you free, available, ready-made yet customizable templates that you can choose from. Just browse through this article and choose the template that satisfies your needs the most.

For other agreement templates, our site is offering you these agreement templates that you can utilize when needed: Employee Equipment AgreementVendor Purchase AgreementVendor Merchandise Agreement, Vendor Service Agreement, Training Services Agreement, Teacher Agreement, Workshop Service Agreement, Student Teaching Agreement, Product Sales Agreement, Farm Land Lease Agreement, etc. This article will not only give you templates but also necessary information that you need to know for your agreement. So come on, explore this article with me!

10+ Residential Real Estate Purchase Agreement Samples

1. Residential Real Estate Purchase Agreement Template

Details
File Format
  • MS Word
  • Google Docs

Download

2. Residential Real Estate Purchase Agreement

Details
File Format
  • PDF

Size: 52 KB

Download

3. Sample Residential Real Estate Purchase Agreement

Details
File Format
  • PDF

Size: 226 KB

Download

4. Residential Real Estate Property Purchase Agreement

Details
File Format
  • PDF

Size: 154 KB

Download

5. Standard Residential Real Estate Purchase Agreement

Details
File Format
  • PDF

Size: 104 KB

Download

6. Residential Real Estate License Purchase Agreement

Details
File Format
  • PDF

Size: 943 KB

Download

7. Residential Real Estate Purchase and Sale Agreement

Details
File Format
  • PDF

Size: 125 KB

Download

8. Purchase Agreement for Residential Real Estate

Details
File Format
  • PDF

Size: 26 KB

Download

9. Residential Real Estate Closing Purchase Agreement

Details
File Format
  • PDF

Size: 449 KB

Download

10. Residential Real Estate Agency Purchase Agreement

Details
File Format
  • PDF

Size: 138 KB

Download

11. Editable Residential Real Estate Purchase Agreement

Details
File Format
  • DOC

Size: 11 KB

Download

What Is Residential Property?

Residential property is any building or unit zoned and purposed as living space. It’s one of two general categories of real estate, the other being commercial property.

Residential property is usually owner-occupied, but not necessarily. By real estate industry convention, any properties with fewer than five units — none of which are for commercial use — are classified as residential. Larger properties and those with mixed residential and commercial use, then, qualify as commercial.

Examples Of Residential Real Estate

There are a few common types of real estate in the residential sector.

  1. Standalone houses: Standalone homes, or single-family homes, on their own lots of land are the most common type of residential real estate.
  2. Townhouses: A townhouse, or townhome, is an individually-owned, often multi-level dwelling that shares one or two exterior walls with neighboring real estate.
  3. Condominiums: A condominium (or condo) is a privately-owned individual residential unit situated within a community of other units—like townhomes, high-rise buildings, or a condo complex. Condos are often owned by a person in joint sovereignty with a condo owners association (COA) rather than a large corporation or a property management company, as is the case with apartments.
  4. Multi-family houses: Examples of multi-family homes include duplexes and fourplexes—dwellings with two or four units, respectively. Buildings with five or more distinct dwelling units are typically considered commercial real estate.

Residential Real Estate Vs. Commercial Real Estate

Commercial and residential real estate may look similar at times but the difference lies in their primary purposes.

  • Residential real estate: Consisting of single-family houses, some multi-family houses, condominiums, and land parcels zoned for residential use, residential properties may look different, but they’re all designated for non-commercial purposes only. Depending on local laws, homeowners may lease their homes as short- or long-term rental properties, but zoning laws prohibit large-scale commercial operations.
  • Commercial real estate: Commercial real estate is a broad asset class that includes apartments, office buildings, hotels and motels, grocery stores, parking garages, and other public-facing businesses. Factories, warehouses, and other properties used for large-scale business purposes are technically considered industrial real estate but sometimes fall under the wider category of commercial real estate. Many commercial real estate parcels are overseen by property management companies that work on behalf of a property owner.

FAQs

What is considered residential?

A residential area is a land used in which housing predominates, as opposed to industrial and commercial areas. These include single-family housing, multi-family residential, or mobile homes. Zoning for residential use may permit some services or work opportunities or may totally exclude business and industry.

What is residential real estate investment?

When you hear “real estate investment,” the first thing that comes to mind is probably residential real estate, aka a rental property. It’s one of the easier concepts in real estate investing to understand: Buy a house or apartment and rent it out to tenants. Rent checks produce monthly rental income and cash flow.

Having this document might be a hard task for you especially if you are doing it from scratch so as it needs to consider a lot of legalities that should be in lined with the law. To avoid this, you are highly encouraged to avail resources that you can see online to make your work, easy, convenient and quality-made. So what are you waiting for? Avail our templates now!

Related Posts