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2. Land contract - Wikipedia

   en.wikipedia.org/wiki/Land_contract

   An initial down payment from the buyer to the seller is usually also required. The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more ...

3. Can a seller back out of a real estate contract? - AOL

   www.aol.com/finance/seller-back-real-estate...

   The language of real estate contracts is typically written to protect buyers. And in many cases, a home seller who reneges on a purchase contract can be sued for breach of contract.

4. What is a down payment? - AOL

   www.aol.com/finance/down-payment-180952544.html

   The down payment funds then move to an escrow account managed by a real estate attorney or settlement officer. This third party disburses the funds to the seller, who ultimately receives the down ...

5. Real estate contract - Wikipedia

   en.wikipedia.org/wiki/Real_estate_contract

   A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...

6. Purchase and sale agreement - Wikipedia

   en.wikipedia.org/wiki/Purchase_and_Sale_Agreement

   A purchase and sale agreement (PSA), also called a sales and purchase agreement (SPA) [1] or an agreement for purchase and sale (APS), [2] is an agreement between a buyer and a seller of real estate property, company stock, or other assets.

7. What is the average down payment for first-time homebuyers? - AOL

   www.aol.com/finance/average-down-payment-first...

   Key takeaways You don’t need to put 20 percent down on a home — the minimum down payment for a house can be much lower. The average down payment on a house for a first-time buyer is just 8 ...