|
"Took Care of Loose Ends"
"Tom served us effectively by getting info to us, staying in touch, taking care of loose ends" "It was a great pleasure working with Tom to find a home - we truly appreciate all of his hard work. We would recommend him to anyone we know."
Sarah and Andrew Richter
Tell me how I'm doing!
You have a story to tell about me. You've
worked with me, and I've helped you buy or sell a home. I need your feedback.
Others need your feedback, too! Please take a moment to fill out this form and
tell me how I did...
Real Estate Contracts >Purchase Agreements
Whether it consists of several pages of big type or a few pages of fine print, a real estate purchase agreement is a serious, legally binding document. In most areas, there are "boiler plate" forms that spell out what each party agrees to do by certain dates and what happens if either side breaks the contract.
The best time to familiarize yourself with these forms is when you are beginning your search. Ask the real estate agent for a copy of the purchase agreement and then review it, keeping in mind that it has the force of law. If you don't understand the document, consult an attorney. If there is a dispute between buyer and seller, a court will hold you to what the purchase agreement specifies, not what you thought it meant or what you thought the real estate agent said it meant.
There are several key points you should be clear about. What are the deadlines for loan application and obtaining financing? If you decide to back out because of the structural inspection report, can you do that? Do appliances convey? When will the closing take place? If you understand these clauses before you find the perfect house, you will avoid a lot of stress and minimize the likelihood of misunderstandings.
|
| Q |
What land did the U.S. Government buy for $7.2 million?
|
| A |
The U.S. bought all of Russian America (Alaska) from the Russian Czar in March 1867. |
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERT™ 
