Contract for Sale of Real Estate. This form is an agreement between the purchaser(s) and seller(s), under a real estate purchase and sale agreement to purchase said purchaser's rights under said agreement.
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Common contingencies include things like home inspections, financing, and appraisal results. These are your safety nets in case something doesn’t go as planned.
If the seller goes back on their word, you might be able to take them to court for breach of contract, or you could just walk away and keep your deposit.