Wyoming Real Estate Contract: Different Types and Key Terms to Include

Quick Facts — Real Estate Contract Lawyers

What is a Wyoming Real Estate Contract?

A Wyoming real estate contract is a legally binding contract executed between a buyer and a seller for the purchase and sale of real property. A real estate contract will include important terms like the purchase price, closing date, and contingencies that must be met before the sale can be completed.

Real estate contracts can only be drafted by a licensed real estate attorney. However, real estate contract templates are available for use by realtors and for sale by owner listings. A real estate contract becomes binding and enforceable once both parties have signed it.

Common Wyoming Real Estate Contracts

There are several types of real estate contracts that are used in Wyoming. The three most common include:

  • Residential purchase agreement. The most common type of real estate contract used for the transfer of residential property like single family homes.
  • Commercial purchase agreement. Used for buying and selling commercially zoned property used for business purposes.
  • Lease agreement. A real estate contract between a landlord and a tenant used for rental properties.

4 Essential Elements of a Wyoming Real Estate Contract

Real estate contracts in Wyoming are governed by the Statute of Frauds so all real estate contracts must be in writing. In addition, the following essential elements must be present in every contract:

  1. Voluntary agreement between competent parties
  2. An offer and acceptance of the offer
  3. Consideration
  4. Legal purpose

If a contract is missing any of these elements, it may be deemed invalid and unenforceable.

Is Wyoming a Buyer Beware State for Real Estate?

Yes. Wyoming follows the principles of "caveat emptor", which means "buyer beware." Under these laws, sellers are not responsible for informing buyers about certain property conditions that could affect the property value. However, sellers cannot knowingly misrepresent the property and real estate agents are legally required to inform buyers of adverse property conditions.

Frequently Asked Questions

How do I hire a lawyer to draft a real estate contract in Wyoming?

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ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


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"Super responsive and very helpful during the process!"

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"Anna C was an absolute pleasure to work with. She added language that protected us beyond what we could've imagined, was very responsive and so helpful. 10/10 recommend."

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"Dolan did incredible with my Purchase Agreement contract. He was extremely timely and efficient in his work and I greatly appreciate how quickly he was able to get this done for me and my fiance. Thank you!!"

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"Dan. P assisted me quickly with cancelling my contract within the deadline and answered my questions."

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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.

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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

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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

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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.

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