Real Estate Purchase and Sale Agreement and Joint Escrow Instructions are legal documents which outline the terms and conditions of a real estate transaction. These documents are essential for the successful completion of a real estate purchase and sale. The agreement and instructions are usually prepared by the buyer and seller, respectively, and signed by both parties prior to closing. The Real Estate Purchase and Sale Agreement outlines the terms and conditions of the sale, including the purchase price, closing date, and any contingencies that must be satisfied prior to closing. It also sets forth the buyer's and seller's rights and obligations in the transaction and contains any other pertinent information related to the sale. The Joint Escrow Instructions are used to set up an escrow account for the funds related to the real estate transaction. These instructions provide the details for the escrow account including who will be the escrow holder, how the funds will be distributed, and who will have access to the funds. There are two primary types of Real Estate Purchase and Sale Agreement and Joint Escrow Instructions: traditional and electronic. Traditional documents are paper-based and typically prepared by a lawyer or escrow agent. Electronic documents are created and executed online, often using an electronic signature.
Supplemental Escrow Instructions And General Provisions Are Prepared And Sent To
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