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Real Estate Tips

Real Estate Contracts >Purchase Agreements

Whether it consists of several pages of big type or a few pages of fine print, a real estate purchase agreement is a serious, legally binding document. In most areas, there are "boiler plate" forms that spell out what each party agrees to do by certain dates and what happens if either side breaks the contract.

The best time to familiarize yourself with these forms is when you are beginning your search. Ask the real estate agent for a copy of the purchase agreement and then review it, keeping in mind that it has the force of law. If you don't understand the document, consult an attorney. If there is a dispute between buyer and seller, a court will hold you to what the purchase agreement specifies, not what you thought it meant or what you thought the real estate agent said it meant.

There are several key points you should be clear about. What are the deadlines for loan application and obtaining financing? If you decide to back out because of the structural inspection report, can you do that? Do appliances convey? When will the closing take place? If you understand these clauses before you find the perfect house, you will avoid a lot of stress and minimize the likelihood of misunderstandings.

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Real Estate Trivia

Q 
What vast and beautiful territory is named with an Indian word meaning "Big Village"?
A 
Canada
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Jane Walters, REALTOR®, real estate agent and broker for Norwalk, Wilton and Westport, Connecticut home listings, property and land for sale

Jane Walters
Prudential CT Realty
124 East Avenue
Norwalk, CT 06851
203-899-3236
Fax: 203-857-7842
janewalters@BestImageAgent.com

I’m a full-time, top producing Realtor and although it may sound like a cliché, I love what I do. For over a decade, I’ve worked with buyers and sellers in Norwalk/Rowayton and the surrounding communities of Wilton, Westport, Darien and other areas of lower Fairfield County. I’m a lifelong resident and I know the area well. Take a look at my website and you’ll find property listings, community information, school reports, mortgage information, real estate tidbits and much more – it’s one stop shopping! When you’re ready to move forward, I’m here to help you with your real estate needs.


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