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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
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What document must lenders provide within three days of receiving your application for financing?

A 
The "Truth In Lending Disclosure Statement" will give you complete financial information about the loan.
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Team Executive, REALTOR®, real estate agents and broker for Fort Hood, Killeen and Harker Heights, Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

Realty Executives of
Killeen/Temple

2700 S. Fort Hood St. #F
Killleen, TX 76542
Main: (254) 628-7658
Mobile: (254) 289-7233
Toll Free: (800) 233-8248
Email: ccharris@NUMBER1EXPERT.com

C.C. Harris and Team Executive have been serving the Greater Fort Hood area for 13 years with pride. We provide the best service possible for every client we represent. We offer “high tech and high touch” real estate service and have many happy clients that tell their freinds and family about us!

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