The Sibcy Cline purchase agreement contains many standard clauses, terms and provisions needed for a successful and satisfactory sale. Your agent will review and discuss every clause in the contract to ensure all your concerns are answered and your best interests are protected.
Major Components of Any Purchase Contract
Offered sale price. And in a competitive market, an escalation clause may be an option to consider.
Amount of earnest money. The earnest money is a portion of your down payment which is placed in a trust account and held by the broker. This deposit serves as assurance to the seller that you are a true, “earnest” buyer.
Type of financing. Any closing costs or points you expect the seller to pay, the amount of down payment, and the time period for you to obtain and provide a "letter of intent to proceed" and secure financing.
A proposed closing date, and when possession will take place.
Personal property inclusions and exclusions.
Any contingencies and the time frame within which they must be met.
5 Common Contingencies in the Purchase Contract
Financing
Inspections
Sale of Current Home
Appraisal
Offer Expiration
To help you perform in accordance with the contract on your home, your agent will:
Explain all the procedures and deadlines to meet the various terms and contingencies in the purchase contract, including the financing and inspection processes.
Ensure that you understand all the terms and conditions of the purchase contract and all other written documents.
Perform all the detail work and negotiations that arise after submitting your contract to the seller.
Communicate with and ensure that all the parties involved are performing their roles to bring about a smooth purchase transaction all the way through to closing.
What does a licensed agent bring to the table?
The short answer is: extensive experience in our market. The long answer can be found in this guide. By understanding the ins and outs, you can feel even more confident in how to choose a real estate agent who's right for you. Search our agent directory or contact a Sibcy Cline office near you to connect with agents in your market.
