Written standard contracts {sales contract, house} can state house condition, conditions for selling or buying, guarantees, and payment method. Contract lists all items accompanying house. It has street address, lot number, section number, land legal description copied from official records, and official-record reference. It lists full names, date, price, and payment terms. It can have contingency clauses. It requires seller to give buyer guarantee that title is valid {general warranty deed}. It specifies that all actions will finish by a date {closing date} {settlement date} or in 30 or 60 days. It states who must pay transfer fees, state revenue stamps, prorated tax, water service fee, sewer service fee, heating, oil, insurance, and other costs {closing costs, contract} until closing date.
financing
It requires a deposit. Buyer must find financing, or contract is void and seller returns deposit.
Practical Affairs>Legal Affairs>Property>Housing>Buying
7-Legal Affairs-Property-Housing-Buying
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Date Modified: 2022.0224