residential real estate purchase and sale agreement form 21
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residential real estate purchase and sale agreement form 21

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Video instructions and help with filling out and completing residential real estate purchase and sale agreement form 21

Instructions and Help about residential real estate purchase and sale agreement form 21

Hi and welcome to real estate faq with russ bread chulas from keller williams realty and a real estate with russ calm today we're talking about purchase and sale agreements and what exactly is a purchase and sale agreement well the easy and quick answer is it's the contract that is used to convey real property it obligates the buyer to buy and the seller to sell a particular piece of real estate but it also has a lot more information in it than just that it will have information about the deposits where the deposits go how much they are and all of the information about earnest money it will discuss contingencies for inspection contingency or a financing contingency and also any other conditions of the sale maybe something like the seller if the sale is subject to the seller finding suitable housing any terms and conditions of the sale are going to be included in the purchase and sale agreement and lastly timelines will be there as well as far as when deposits or do when the contingencies are and lastly when do we close if a question that everybody wants to know so the purchase and sale contract is absolutely vital it's the only way that properties get conveyed and a couple of points to remember about them first whenever entering into any kind of legally binding contract make sure you consult competent legal advice to make sure your interests are protected and lastly different states handle contracts differently for example in Massachusetts we start with an offer form and then we move to a purchase and sale agreement that replaces that offer whereas in the state of Florida you go right to a contract so talk to your attorney talk to your title company and definitely talk to your real estate agent about what is common in your area and everything you should be aware of before entering into a purchase and sale agreement thanks so much for watching real estate FAQ with Russ Brad chulas from keller williams realty and real estate with russ calm

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