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Contracts

What is a Purchase and Sale Agreement?

Great question! What is it? The purchase and sale agreement is the contract that is used to purchase real property. What is real property? Essentially, it is dirt. Dirt in a specific area that comes with a deed to that location. It can be a house or it can be the land a house is […]
Steps of the Deal

What is Earnest Money?

I’m glad you asked! Earnest Money Explained Earnest money is considered to be a good-faith deposit. It shows the home seller that the home buyer is serious about purchasing their property. The amount is typically held in escrow until closing. Here is an example. Let’s say you found your perfect home and want to buy. […]
Contracts, Steps of the Deal

What is a Financing Contingency?

Excellent question. I’m glad you asked! The financing contingency is part of the purchase and sale agreement. It is a clause that states if the buyer is unable to secure financing (e.g., a mortgage), they can terminate the transaction, and their earnest money will be returned. It is part of the financing addendum (Form 22A […]
Contracts, Steps of the Deal

What is a Buyer’s Agency Agreement?

Great question! Thanks for asking! To get this out of the way, I am not a lawyer. I’m a real estate agent. While I use these contracts and am well versed in them, you should check with your local state laws. The United States is a Republic of States. If you haven’t noticed recently, not […]

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Contracts What is a Purchase and Sale Agreement? Great question! What is it? The purchase and sale agreement is the contract that is used to purchase real property. What is real property? Essentially, it is dirt. Dirt in a specific area that comes with a deed to that location. It can be a house or it can be the land a house is […]

Steps of the Deal What is Earnest Money? I’m glad you asked! Earnest Money Explained Earnest money is considered to be a good-faith deposit. It shows the home seller that the home buyer is serious about purchasing their property. The amount is typically held in escrow until closing. Here is an example. Let’s say you found your perfect home and want to buy. […]

Contracts What is a Financing Contingency? Excellent question. I’m glad you asked! The financing contingency is part of the purchase and sale agreement. It is a clause that states if the buyer is unable to secure financing (e.g., a mortgage), they can terminate the transaction, and their earnest money will be returned. It is part of the financing addendum (Form 22A […]

Contracts What is a Buyer’s Agency Agreement? Great question! Thanks for asking! To get this out of the way, I am not a lawyer. I’m a real estate agent. While I use these contracts and am well versed in them, you should check with your local state laws. The United States is a Republic of States. If you haven’t noticed recently, not […]

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