| A real estate contract is a confusing thing to view | | | | when they move. The details of the closing should |
| if you have need seen one before. These are the | | | | also be listed, when and where it will happen and |
| documents that have every detail of a home sale | | | | under what conditions. |
| and purchase listed on them. These contracts | | | | Other important details that will be listed on a |
| contain a number of different categories and it is | | | | contract include any warranties on parts of the |
| important to read over these documents in detail. | | | | home. Usually this applies to things such as a "New |
| This will familiarize you with all aspects of the sale | | | | Home Warranty," or usually the roof is warranted |
| and ensure that you are educated on the | | | | as well. Many homes utilize wells or septic tanks, |
| purchase or sale of your home. | | | | these must be tested and pass the testing and |
| A typical sales contract will contain the following | | | | be listed on the contract. A well written contract |
| important information: | | | | will also include information such as the date of |
| A description of the property involved. This should | | | | possession once sold, and how long the sellers |
| cover all aspects of the property including the | | | | have to respond to offers during the sale |
| address. It will detail the selling price, and any | | | | process. Of course, the contract must also detail |
| subjects that were involved in the sale. This | | | | the process of arbitration if necessary, the |
| includes such things as financing and inspections. It | | | | insurance that will cover the home during the sale |
| will also hold information about the mortgage such | | | | and and property disclosures related to the home |
| as the amount and term and the rate of the | | | | in question. |
| mortgage itself. Deposit information should also be | | | | Remember, your Realtor is a skilled individual |
| detailed in the contract. The amount of the | | | | when it comes to understanding and interpreting |
| deposit and where it will be held is extremely | | | | these contracts. Do not be afraid to ask |
| important. The next item of concern should list | | | | questions and inquire about any aspect of the |
| what is and what is not included in the sale. This | | | | contract that is of concern to you. It is your |
| applies to things such as window dressings, | | | | Realtors job to ensure that these contract issues |
| appliances and fixtures and anything else that the | | | | are understood by you at all times. |
| previous owners will be removing from the house | | | | |