Parsley Real Estate, Inc.CALL: (352) 726-2628
Seven Terms to Watch for in a Purchase Contract
The closing date. See if the date the buyer wants to take title is reasonable for you.
Date of possession. See if the date the buyer wants to move in is reasonable for you.
The earnest money. Look for the largest earnest money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.
Fixtures and personal property. Check the list of items that the buyer expects to remain with the property and be sure it’s acceptable.
Repairs. Determine what the requested repairs will cost and whether you’re willing to do the work or would rather lower the price by that amount.
Contingencies. See what other factors the buyer wants met before the contract is final—inspections, selling a home, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they won’t drag on and keep your sale from becoming final.
The contract expiration date. See how long you have to make a decision on the offer
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright / All rights reserved.
Click here for printer-friendly format
Marion County Office
5860 SW 6th Place
Ocala, FL 34474
Phone: (352) 220-4355
Citrus County Office
4635 N. Carl G. Rose Hwy.
Hernando, FL 34442
Phone: (352) 726-2628
Send Us A Message
Thinking of buying or selling? Contact us today! You will be glad you did.