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A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. The sale of land is governed by the laws and practices of the jurisdiction in which the land is located.
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.
The closing process officially begins once the seller accepts, signs, and returns a purchase offer (also known as a purchase agreement). The closing date is set during the property negotiation phase and is usually several weeks after an offer is formally accepted. [ 2 ]
A knowledgeable local real estate agent can offer valuable expertise throughout the entire buying or selling process. Your agent can help you understand and potentially negotiate your closing ...
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.
A real estate attorney hired to simply review and edit a contract might be had for around $500 or so, she says. In the Atlanta market Ailion serves, an attorney’s fee typically ranges from $550 ...