What is a Rhode Island Real Estate Contract?
A Rhode Island real estate contract is a legal agreement that is negotiated between a buyer and a seller that outlines the terms and conditions of the sale of real estate. A real estate contract will cover important information like:
- Property purchase price
- Closing date and costs
- Conditions to meet before the sale is finalized
Common Rhode Island Real Estate Contracts
There are several common contracts used to buy and sell land in Rhode Island. The contract varies based on the type of property and purpose of the contract.
- Residential purchase and sale agreement. Used to buy and sell residential property zoned for housing. In Rhode Island, the most used contract by realtors is the Rhode Island Association of Realtors version.
- Commercial purchase agreement. Used to buy and sell commercial property zoned for operating a business.
- Lease agreement. Used to rent properties while maintaining ownership.
4 Essential Elements of a Rhode Island Real Estate Contract
The 4 essential elements that must be present in every Rhode Island real estate contract are:
- Valid offer from the buyer and acceptance of the offer from the seller
- Consideration or the promise of items of value
- Mutual assent or the agreement to enter the contract
- Legal purpose and legal capacity of the parties
In addition, all real estate contracts must be in writing.
What Makes a Real Estate Contract Invalid in Rhode Island?
In Rhode Island, a real estate contract can be deemed invalid for the following reasons:
- The contract was not executed properly.
- It contains illegal terms.
- One of the parties purposefully misrepresented facts.
- If one of the parties was under duress, undue influence, or incapacitated when the contract was signed.
If either party alleges any of these reasons, the contract could be deemed invalid and unenforceable.
See Real Estate Contract by State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Meet some of our Rhode Island Real Estate Contract Lawyers
Moss S.
Over 30 years of experience practicing commercial real estate and complex business litigation law.
Elizabeth W.
Liz is an experienced insurance professional, having worked with carriers and brokers for over 10 years. She can review or draft a variety of commercial agreements and is here to help your business. Specialties include: Master Service Agreements, business process outsourcing, marketing and partnership agreements, broker agreements, business associate agreements, and NDAs.
Nicholas M.
Nicholas Matlach is a cybersecurity expert (CISSP) and an attorney who is dedicated to helping small businesses succeed. He is a client-focused professional who has a deep understanding of the challenges that small businesses face in the digital age. He also provides legal counsel to small businesses on a variety of issues, including formation, intellectual property, contracts, and employment law.
Paul M.
Transactional attorney and corporate in house counsel for 15 years. Draft all types of contracts and employment agreements.
Find the best lawyer for your project
Browse Lawyers NowMeet some of our other Real Estate Contract Lawyers
Curt B.
Curt Brown has experience advising clients on a variety of franchising, business litigation, transactional, and securities law matters. Mr. Brown's accolades include: - Super Lawyers Rising Star - California Lawyer of the Year by The Daily Journal - Pro Bono Attorney of the Year the USC Public Interest Law Fund Curt started his legal career in the Los Angeles office of the prestigious firm of Irell & Manella LLP, where his practice focused on a wide variety of complex civil litigation matters, including securities litigation, antitrust, trademark, bankruptcy, and class action defense. Mr. Brown also has experience advising mergers and acquisitions and international companies concerning cyber liability and class action defense. He is admitted in California, Florida, D.C., Washington, Illinois, Colorado, and Michigan.
Shelia H.
Shelia A. Huggins is a 20-year North Carolina licensed attorney, focusing primarily on business, contracts, arts and entertainment, social media, and internet law. She previously served on the Board of Visitors for the North Carolina Central University School of Business and the Board of Advisors for the Alamance Community College Small Business Center. Ms. Huggins has taught Business and Entertainment Law at North Carolina Central University’s law school and lectured on topics such as business formation, partnerships, independent contractor agreements, social media law, and employment law at workshops across the state. You can learn more about me here: www.sheliahugginslaw.com www.instagram.com/mslegalista www.youtube.com/mslegalista www.facebook.com/sheliahuugginslaw
March 24, 2023
Morgan N.
Morgan is a real estate attorney with six years of experience in residential, land, and commercial real estate transactions. He has experience assisting municipalities, businesses, buyers and sellers in real estate related matters. He has worked on various projects including purchase agreements, contract for deed, easements, mortgages, access agreements, contract/lease review and also title review. Prior to entering private practice, Morgan was a Realtor and assisted buyers and sellers in residential sales and closing services. Morgan provides proactive, responsive and dependable work to each client and project.
Real Estate
Real Estate Contract
Georgia
WHAT ARE YOUR FEES TO PERFORM QUIT CLAIM DEED COMPLETE BUTTS COUNTY GEORGIA 30233
SON AND EX
Meghan T.
Hi. The cost for my practice to prepare a Quit Claim Deed is $99. The Cost for me to handle the closing is $250 plus recording fees. These costs apply for any county within the state of Georgia. Let me know if you have any more questions. Meghan K Thomas
Real Estate
Real Estate Contract
New York
Can you purchase or refinance under a land contract?
I’ve been living here for 2 years. Currently have been working with my credit union and they are having a terrible time trying to understand the legalities of my land contract first off, and secondly they just don’t seem to know what they are doing. It’s been over 8 months, 4 different loan officers and I’m once again waiting for someone else to help finish this thing out. It’s only $60,000 with a $120,000 appraisal. So, as of now I am stuck paying 2.5x monthly under this land contract than I was promised would be an easy mortgage process. So any guidance in the right direction would be very helpful. It’s a New York home. 20 yr fixed, no balloon, with a (brace yourself) 12% apr. HELP ME PLEASE! One month I’m being told to authorize a credit check for a first time homebuyer grant method of mortgaging this property. The next it’s authorizing it for a refinance. I do have earnest money deposits for over $3,000 and another $3000 paid towards principal under this land contract also.
Jane C.
I suggest you speak with a New York real estate attorney. That attorney needs to review the documents related to the transaction.
Real Estate
Real Estate Contract
Georgia
How many years does a quick claim become effective?s
Number of years for quick claim to be effect ive
Meghan T.
A quit claim deed is effective upon execution so long as the deed is dated as of the date of signature. Execution means that the deed is signed, in front of a witness and a notary. The witness and notary must also sign the deed. Finally, the deed must be recorded. This means that the deed must be submitted to the Superior Court recording office of the County in which the property sits. Please let me know if you have any questions. Thanks, Meghan K Thomas
Real Estate
Real Estate Contract
Illinois
what is better to buy land or rent for construction in US?
we are a construction company from Ukraine, we are planning to build a cottage town in the USA
T. Phillip B.
I suppose it doesn't matter if you have the lease giving you permission and the lease is long enough to justify the building expense when you won't own it. But I'd buy the land so you could eventually sell the property with the building on it.
Real Estate lawyers by top cities
- Austin Real Estate Lawyers
- Boston Real Estate Lawyers
- Chicago Real Estate Lawyers
- Dallas Real Estate Lawyers
- Denver Real Estate Lawyers
- Houston Real Estate Lawyers
- Los Angeles Real Estate Lawyers
- New York Real Estate Lawyers
- Phoenix Real Estate Lawyers
- San Diego Real Estate Lawyers
- Tampa Real Estate Lawyers
Rhode Island Real Estate Contract lawyers by city
- Barrington Real Estate Contract Lawyers
- Bristol Real Estate Contract Lawyers
- Central Falls Real Estate Contract Lawyers
- Coventry Real Estate Contract Lawyers
- Cranston Real Estate Contract Lawyers
- Cumberland Real Estate Contract Lawyers
- East Greenwich Real Estate Contract Lawyers
- East Providence Real Estate Contract Lawyers
- Johnston Real Estate Contract Lawyers
- Lincoln Real Estate Contract Lawyers
- Middletown Real Estate Contract Lawyers
- Narragansett Real Estate Contract Lawyers
- Newport Real Estate Contract Lawyers
- North Kingstown Real Estate Contract Lawyers
- Pawtucket Real Estate Contract Lawyers
- Peace Dale Real Estate Contract Lawyers
- Portsmouth Real Estate Contract Lawyers
- Providence Real Estate Contract Lawyers
- Riverside Real Estate Contract Lawyers
- Valley Falls Real Estate Contract Lawyers
- Wakefield Real Estate Contract Lawyers
- Warwick Real Estate Contract Lawyers
- West Warwick Real Estate Contract Lawyers
- Westerly Real Estate Contract Lawyers
- Woonsocket Real Estate Contract Lawyers
ContractsCounsel User
Review Real Estate Contract
Location: California
Turnaround: Less than a week
Service: Contract Review
Doc Type: Real Estate Purchase Agreement
Page Count: 60
Number of Bids: 8
Bid Range: $550 - $1,500
ContractsCounsel User
Purchase Sales Agreement
Location: Nevada
Turnaround: Less than a week
Service: Contract Review
Doc Type: Real Estate Purchase Agreement
Page Count: 8
Number of Bids: 4
Bid Range: $650 - $700
User Feedback:
related contracts
- Addendum to Lease
- ALTA Statement
- Apartment Lease
- Apartment Rental Agreement
- Assignment of Lease
- Boundary Line Agreement
- Brokerage Agreement
- Building Contract
- Building Lease
- Business Office Lease Agreement
other helpful articles
- How much does it cost to draft a contract?
- Do Contract Lawyers Use Templates?
- How do Contract Lawyers charge?
- Business Contract Lawyers: How Can They Help?
- What to look for when hiring a lawyer