When buying a home, understanding your contract is one of the most important protections you have to ensure you to make an informed decision.
As with everything else about real estate, sales contracts or purchase agreements vary from state to state and even by real-estate company, in some places. Variations in regulations place even greater emphasis on working with professionals who have local knowledge.
While the terms used may change from place to place, seven common terms are particularly difficult to understand.
1. Buyer Cost Sheet. This sheet is not part of the purchase contract, but it’s still important . A property purchase agreement can range from a few pages to a dozen or more depending on your location and the complexity of the transaction. Buyers need to focus clearly on your sheet, sometimes called “cash to close.”
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