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What is the inspection and due diligence period mentioned in lines 154 191? Lines 154 - 191 Inspection and Due Diligence Period. This is to establish by contract that the Seller is not obligated to make any repairs unless there is further agreement to do so.

Buyer's response must be in writing. Upon Buyer's failure to respond to the Seller's response within the time specified, or Buyer electing in writing to terminate the agreement, the agreement shall automatically ,with no further action, required by either party be null and void except for return of the deposit.

Elements of a sales agreement Buyer and seller names and contact information. Description of goods, services, or property being purchased. Payment amount, dates, and method. Liability of each party in the case of loss, damage, or delivery failure. Ownership information, such as when ownership formally transfers to the buyer.

The buy-sell agreement can ensure that the ownership of the company continues on in a manner that is in the best interests of the company and fair to the owners by spelling out what happens under different triggering events.

Line 53 - All Cash Sale. This simply means what it says, that the Buyer has or will have at closing, cash to close the sale. This cash must be delivered to the closing attorney as "good funds" as discussed above. The Buyer should be advised of the requirement of "good funds" at closing.

A homebuyer who makes a cash offer intends to pay in full, with no mortgage or other type of financing. Cash deals are more appealing to sellers than financed deals, because they close faster and are less risky.

What Must Be Included in a Kansas Real Estate Contract? Party information. The names and addresses of the parties involved in the transaction, including the buyer, seller, and any agents or brokers involved. Property description. Purchase price. Contingencies. Closing date. Disclosures.

At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.

When you make an all-cash offer on a home, it means you are offering to pay for the purchase with funds that are already in your bank account. As a result, you wouldn't need to arrange financing because you wouldn't require a mortgage.