This is a sample Basic Real Estate Contract. A Real Estate Contract is a legally binding document between two or more parties participating in a purchase and sale, exchange or transfer of real estate. The form may be customized to suit your needs.
Yes, in most cases, contracts can be modified with the agreement of both parties. It's like making a deal — both sides need to shake hands and say 'okay'!
Common contingencies include financing, inspection, and appraisal conditions. These are safety nets, giving buyers a way to back out if things don’t go as planned.
Yes, there is! A buyer's agent represents the buyer's interests, while a seller's agent focuses on the seller's side. It's like having your own cheerleader — you want someone in your corner!
If someone wants to back out, it depends on the contract's terms and the reason for canceling. There might be consequences, so it's always best to read the fine print!
Buyers typically have a set timeframe, often around 10 to 14 days, to inspect the property. Think of it like a window of opportunity to kick the tires and ensure everything is in order.
A basic real estate contract is a written agreement between a buyer and a seller outlining the terms of buying a property. It's the blueprint for the deal, making sure everyone is on the same page.