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Real Estate Agreement

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Real Estate Agreement

Real Estate Agreement

A real estate agreement is a legally binding agreement between a buyer and a seller that governs the sale or purchase of a property. The agreement lays down the terms and conditions of transaction, under which the sale will occur. The purpose of a real estate contract is to explicitly express the agreements involved in the purchase and sale, exchange, or other conveyance of real estate between a buyer and a seller.

FAQ

No, a real estate agreement does not require notarization to be valid.

A real estate contract can be terminated either when the option is included within the contract, or according to the state’s regulations.

The associated fees of drawing up this contract is paid by the seller as part of the closing fee.

The components of real estate agreement include-

Buyer and seller information, property details, pricing details, fixtures and appliances, property tax, closing fee, signatures.