The Contract Process
WRITING THE CONTRACT: GLOSSARY OF TERMS
Buying or selling a property is a complex transaction involving numerous parties and, commonly, conflicting interests. To reduce the possibility of misunderstanding or miscommunication between these parties, all negotiations regarding the purchase or sale of real estate should ultimately be reduced to a written agreement. When signed by all parties, this agreement should represent the entirety of the agreement between the buyer, seller and any other party materially involved in the transaction. The section below describes important areas of the written agreement. ultimately forming a contract between the two parties. You must read and UNDERSTAND the entire agreement prior to signing it. Your professional real estate agent or attorney can be invaluable in helping you understand the important details contained in this document.
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