Where in the one to four family residential contract is the sales price of the property entered?

The sales price of the property in a one to four family residential contract is entered in Paragraph 3. This paragraph is specifically designated for outlining the financial terms of the transaction, which includes not only the sales price but also any other pertinent financial details, such as earnest money deposits or financing considerations if applicable.

In this context, it's crucial to understand that the organization of the contract is designed to clearly delineate various aspects of the transaction for ease of reference. Paragraphs earlier in the contract primarily concern the parties involved and the property, while later paragraphs focus on other details like closing, contingencies, and disclosures. Therefore, locating the sales price in Paragraph 3 helps streamline the process for all parties reviewing the contract, as financial terms are often one of the primary considerations in property transactions.