ContractsCounsel Logo

Rhode Island Real Estate Contract

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 10,596 reviews
No Upfront Payment Required, Pay Only If You Hire.

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:

  1. Valid offer from the buyer and acceptance of the offer from the seller
  2. Consideration or the promise of items of value
  3. Mutual assent or the agreement to enter the contract
  4. 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

Need help with a Real Estate Contract?

Create a free project posting

Meet some of our Rhode Island Real Estate Contract Lawyers

Elizabeth W. on ContractsCounsel
View Elizabeth
5.0 (5)
Member Since:
December 11, 2021

Elizabeth W.

Legal Counsel
Free Consultation
Minneapolis, MN
7 Yrs Experience
Licensed in MA, RI
Suffolk University Law School

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. on ContractsCounsel
View Nicholas
5.0 (28)
Member Since:
June 1, 2023

Nicholas M.

President/Attorney
Free Consultation
Providence, Rhode Island
14 Yrs Experience
Licensed in CT, MA, NC, RI
The Catholic University of America, Columbus School of Law

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.

Find the best lawyer for your project

Browse Lawyers Now

Meet some of our other Real Estate Contract Lawyers

Curt B. on ContractsCounsel
View Curt
5.0 (3)
Member Since:
March 25, 2023

Curt B.

Managing Partner
Free Consultation
Los Angeles, California
10 Yrs Experience
Licensed in CA, DC, FL, IL, MI
UCLA School of Law

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. on ContractsCounsel
View Shelia
5.0 (12)
Member Since:
March 28, 2023

Shelia H.

Attorney
Free Consultation
Durham, NC
22 Yrs Experience
Licensed in NC
UNC- Chapel Hill School of Law

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

Morgan N. on ContractsCounsel
View Morgan
Member Since:
March 24, 2023

Morgan N.

Attorney
Free Consultation
North Dakota and Minnesota
3 Yrs Experience
Licensed in MN, ND
Mitchell Hamline School of Law

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

Asked on Mar 18, 2022

WHAT ARE YOUR FEES TO PERFORM QUIT CLAIM DEED COMPLETE BUTTS COUNTY GEORGIA 30233

SON AND EX

Meghan T.

Answered Mar 29, 2022

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

Read 1 attorney answer>

Real Estate

Real Estate Contract

New York

Asked on Dec 26, 2021

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.

Answered Jan 11, 2022

I suggest you speak with a New York real estate attorney. That attorney needs to review the documents related to the transaction.

Read 1 attorney answer>

Real Estate

Real Estate Contract

Georgia

Asked on Mar 24, 2022

How many years does a quick claim become effective?s

Number of years for quick claim to be effect ive

Meghan T.

Answered Mar 29, 2022

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

Read 1 attorney answer>

Real Estate

Real Estate Contract

Illinois

Asked on Mar 27, 2022

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.

Answered Apr 5, 2022

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.

Read 1 attorney answer>
See more legal questions…

Need help with a Real Estate Contract?

Create a free project posting
Real Estate lawyers by top cities
See All Rhode Island Real Estate Lawyers
Rhode Island Real Estate Contract lawyers by city
See All Real Estate Contract Lawyers

ContractsCounsel User

Recent Project:
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

Recent Project:
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:
Highly recommend!
related contracts
See More Contracts
other helpful articles

Need help with a Real Estate Contract?

Create a free project posting

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city