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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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Q	What information does nearly every state in America require the seller of a home to reveal to the buyer?
A	Most states require disclosure of any existing problems or conditions that could affect the value of the house.
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Miriam Dunn, REALTORŽ, real estate agent and broker for Rye, Rye Brook and Harrison New York home listings, property and land for sale - NUMBER1EXPERT(tm)

Miriam Dunn
RE/MAX Prime Properties
800-974-1066
Miriam@MiriamDunn.com
I have been a Realtor in Westchester County for over 18 years. Westchester, with its easy commuting to New York City, is a most amazing place to live. There are so many amenities--from all the opportunities and conveniences to the wonderful and caring people. Prior to real estate, I was in the advertising and banking businesses. My experience in these fields, as well as extensive experience in the real estate business, has given me a great understanding of people and their varied personalities, terrific customer service knowledge, excellent negotiating skills, the foresight to manage my own business at RE/MAX Prime Properties, and the ability to market and help purchase the homes and property investments of many clients. Approximately 65% of my business comes from personal and professional referrals. I am truly honored by this and attribute all of my success to my clients, whom I consider the heart and foundation of my business. I am most grateful for their trust and confidence. As a full-time, professional Realtor, I take pride in my work, enjoy what I do, and am at my best helping clients in the sale and purchase of their homes. I look forward to assisting you, too, as your personal Realtor. Thank you.

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