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A fully executed contract binds both the seller and buyer in a real estate transaction. Here are a few of the items that are critical to a contract
 

 

1. Price (critical to sellers and buyers and can break the deal) should be negotiated with give and take, but don't let this make or break your transaction. Set a realistic goal before you offer or counter offer based on the market and factors important to you. After all, you don't want to pass up the house that best meets your needs simply due to a few dollars that will be amortized over 30 or 15 years, right;


2. Important contract items (e.g. appliances, fixtures, etc.) Be sure that you name that lovely hanging lamp in the contract and/or the top of the line pool equipment in your contract or you might not find it after you have closed and are in you new home;

3. Financing - the time the buyer has to apply for and obtain financing and also the amount of the financing and source (conventional, FHA, VA, etc.);
 

4. Date of closing - Be sure that you are accurate about this date or you could find yourself closing on your deal a month after you would like.


5. Other (e.g. time for acceptance, contingencies, etc.) items are equally important and should be thoughtfully and fairly prepared to protect your rights and eliminate any possible problems at closing.
For more assistance, please contact us.

                 

Pinnacle Realty Associates, Inc.