Purchase and Sales Agreement for Oklahoma

[Jason K Green]

I am on the verge of getting my first property under contract. Now how do I fill out the contract?

The date and parties are self evident.

The subject property would be the address?

What is the legal description?

The sales price is the price the seller has agreed to accept.

Subject to: Should that be the name of the mortgage holder with the amount of the mortgage?

Equity is the difference between the sale price and the mortgage balance (the amount the seller will actually receive).

Also, this is a generic contract, is it enforceable in all states?

Looking forward to your feedback.