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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.
A contingency clause in a real estate purchase agreement specifies an action or requirement that must be met, within a particular time frame, for the contract to become legally binding. Both the ...
A tenant and landlord may sign a letter of intent prior to signing a lease agreement to stipulate rental rates and all regulations of the future tenancy. [ citation needed ] In the solicitation of US government grants, a letter of intent is highly encouraged, but it is not required or binding, and does not enter into the review of a subsequent ...
A homebuyer can back out of a purchase even after a purchase and sale agreement has been signed. The ramifications of a buyer opting to walk away vary based on how the contract is written and the ...
A clause in a purchase agreement that gives buyers and sellers the right to cancel a contract if certain terms aren’t met. For example, a mortgage contingency requires the buyer to secure a ...
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