If you’re drafting or reviewing a specific contract, tell me: The (laws vary by location) Whether you are the buyer or seller Any special conditions (like selling an old home first)
: Total cost and deposit amount (earnest money). agreement to buy and sell real estate
: Verifies the seller legally owns the property. ⚖️ Legal Weight Binding Nature : Once signed, both parties must comply. Disclosures : Sellers must reveal known property defects. Default : Failure to follow terms leads to legal penalties. If you’re drafting or reviewing a specific contract,
: Specifics on loans, interest rates, or cash offers. Contingencies : Conditions that must be met to close. Closing Date : When the deed and money swap hands. 🛡️ Common Contingencies Home Inspection : Allows withdrawal if major issues appear. Appraisal : Ensures the home's value matches the price. Financing : Protects the buyer if a loan is denied. Disclosures : Sellers must reveal known property defects
💡