Form 573

What Is Form 573?

Form 573 Waiver is a document used to waive a person's right to buy real estate. This document is usually used when the person selling the property is unwilling to sell it to the person who is buying it.

What Is Form 573 Used For?

The 573 waiver is an important document because it protects both the buyer and the seller in the event something goes wrong. For example, if the buyer can't get financing, the seller can keep the deposit and cancel the transaction. Likewise, if the seller cannot provide a clear title to the property, the buyer can walk away from the transaction.

Although a 573 waiver is not required in all real estate transactions, having one is a good idea. This document will help avoid misunderstandings and problems later on.

How to Fill Out Form 573?

Form 573 is a waiver of a contract of sale that is used to waive the right of first refusal to purchase real property.  You will need the following information when filling out Form 573:

1. Names, addresses and signatures of buyer and seller.
2. Address of property to be purchased.
3. Purchase price of the property.
4. Detailed description of the reasons for refusing to purchase the property.
5. Date of sale.
6. Signature and seal of the notary.

How to Submit Form 573?

The next step is for you to file a Form 573 pdf at the address listed on the form. Don't forget to include any required documents, such as a copy of your driver's license or identification card.

Who Should Sign Form 573?

The form must be signed by the buyer and seller and notarized. It is always a good idea to have a real estate lawyer review any contract before signing it. This is especially true when it comes to buying real estate, as there are many different terms and conditions that can be included in a purchase and sale agreement.