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- A real estate purchase contract is a legally binding agreement that governs the purchase and sale of a property12. The contract should include the following items34:
- Identification of the parties
- A description of the property
- Essential details, rights, and obligations of the contract
- Contingencies or conditions that must be met before the sale can go through
- The condition of the property
- Which fixtures and appliances are included in the sale and which are excluded
- The amount of the earnest money deposit
- Itemized closing costs and who is responsible for paying them
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A real estate purchase agreement is a legally binding agreement that governs the purchase and sale of a property. Made between a buyer and seller, it defines the terms of the transaction and the conditions under which a sale will occur.www.rocketmortgage.com/learn/real-estate-purcha…Every home sale starts with a real estate purchase agreement—a legally binding contract signed by home buyers and sellers that confirms that they agree upon a certain purchase price, closing date, and other terms.www.realtor.com/advice/buy/real-estate-purchase-…In addition to the agreed-upon consideration, a real estate purchase contract should include the following items:
- Identification of the parties
- A description of the property
www.thebalancemoney.com/purchase-contract-179…A buyer and seller draw up a contract that includes the following information:
- A legal description of the property
- Names and addresses of the buyer and seller
- Purchase price
- Down payment
www.forbes.com/advisor/mortgages/what-is-a-land … - People also ask
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