All contracts for the sale of real estate must be in writing in order for them to be binding on both parties.

Typically, the prospective buyer initially makes an offer in writing to the seller. The offer contains a description of the property (location, address, book and page where the current deed is recorded), the proposed purchase price, time and date for the proposed closing, and a date and time wherein the offer must be accepted. Oftentimes, the offer will contain additional terms and conditions which may include clauses that provide for:

Once an offer to purchase a certain real property is made and accepted, a purchase and sale agreement is drafted and signed by both the buyer and the seller.

Usually, the seller's attorney will draft the initial purchase and sale agreement which is then reviewed by the buyer's attorney. Terms and conditions of the sale are negotiated and set forth in writing in the final purchase and sale agreement.

This agreement must include the names of the parties, dates of the agreement and of the closing, and a description of the property, but it may also contain clauses that assure the buyer:

There would also be clauses giving the seller assurances:

Once the purchase and sale agreement has been negotiated and signed by the parties, the closing attorney is then assigned to order the title and "close" the transaction according to the terms of the purchase and sale agreement and, if a lender is involved, within the terms and conditions of the lender's contract with the buyer.

Typically, the closing attorney will attend to the following:

The lender will usually require the issuance of title insurance to protect its interest. The buyer will also be given an opportunity at the closing to purchase title insurance to protect his/her interest.

Title insurance covers title issues that cannot be discovered by the title examiners, such as forged signatures, interests of missing or undisclosed heirs, unfiled mechanics liens, etc. A title examiner only certifies that there ar no liens, etc. "of record". The buyer is advised to ask his/her attorney as to the value of purchasing this title insurance.

The closing attorney typically represents the lender and not the buyer, so the buyer needs to have his/her own attorney to represent him/her in this important and expensive transaction. The attorney who represents the buyer will negotiate, review documents, and otherwise act in a manner that will protect the buyer's interest.

The deed transferring the property from seller to buyer will be recorded at the Registry of Deeds after a formal "run down" title exam is done. The Registry will assign an instrument number, date and time to the deed recording, and that information may serve as reference until the Registry assigns a book and page. Before computers, all deeds were placed in books arranged numerically from the time the Registry began recording deeds, so that transactions that took place in earlier years were recorded in books that had lower numbers than those that were recorded later. Even after the recording has become computerized, the system of assigning book and page numbers to each recording remains in place and all deeds reference a book and page number.

Ownership of registered land is evidenced by a certificate of title. Both the deed and the owner's duplicate certificate of title must be recorded at the Registry when a parcel of registered land is purchased and sold.

Similar to the procedure for unregistered land, the Registry will assign a book and page to the title certificate.

Buyers may take title to real property by various types of ownership. Some of the types of ownership are:

Consideration of estate planning, liability, tax consequences, and other matters are taken into account when deciding which ownership interest will be taken.