What is a Real Estate Purchase and Sale Agreement?
A real estate purchase and sale agreement is a relatively short and straightforward contract that you can expect to sign if you are either buying or selling a piece of property. While corporate level versions of this contract can be quite laborious, ones designed for individual home sales from one private citizen to another are usually only a few pages in length. Let’s take a look at what one of these agreements looks like so that when you are asked to sign one, you’ll know your way around. The first part of the typical real estate purchase and sale agreement outlines the names of the buyers and sellers and usually identifies them by social security number. This section also states, in plain language, the intent of the parties involved to buy and sell particular pieces of property and then the address of the piece of property is then listed. A legal description of that piece of property (single resident home, apartment building, etc) is then listed to clarify exactly what type of prope
