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What are KEY components a new buyer should be aware of with a real?

Terms and conditions - bought as is, bought when furnishing process is done, bought with bare conditions to be custom-finished later by buyer, which affects the sale/deal prices. Payment terms (please read this part thoroughly), had to be clear and precise for every obligations, who is paying what, taxes, payment termins, interest rates, penalties - e.g. if the buyer is using bank loan as payment. If you pay in cash, it is much easier. Legal aspects - agreements, loopholes, ownerships, mortgages, collaterals - e.g. if late payment for several months then the asset becomes a REO (seized) etc.