Burroughs Company, REALTORS®
Phill & Theresa Slocum, REALTOR® TEAM Serving Oklahoma City Metro
7 Terms to Watch for in a Purchase Contract

  1. The closing date . See if the date the buyer wants to take title is reasonable for you.
  2. Date of possession . See if the date the buyer wants to move in is reasonable for you.
  3. 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.
  4. Fixtures and personal property . Check the list of items that the buyer expects to remain with the property and be sure it's acceptable.
  5. 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.
  6. 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.

 

Copyright 2002-2005 Prospective Systems, LLC - RapidListings.com - All Rights Reserved - Real Estate Websites
All information provided by the listing agent/broker, is presumed reliable but is not guaranteed, and should be independently verified.
These links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an
approval by Phill, Theresa Slocum, and or Burroughs Company, REALTORS of any of the products, services or opinions of the corporation or organization or individual. Phill, Theresa Slocum, and or Burroughs Company, REALTORS bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. Contact the external site for answers to questions regarding its content.
 
Phill, Theresa Slocum, and or Burroughs Company, REALTORS want to assist you in finding information.  It is always best to seek the services of experts in the specialized field of interest, such as title companies, attorneys, commercial accountants, and so forth.
 
The Best is yet to come.  Dream Big...Invest in Your Dream.




Office/ Broker | Mission | Get Pre Qualified | FREE Home Value Analysis | Help Find a Home Request | Quick MLS Search | 3D Search MLS | Search Tools | Search Hud Homes | Gov. Tools | ClosngCostCalculator | Loan Calculator | Amortization Calcula | Map It | SuperPages.com | Search ZipCodes | Investment Return | Seller Resources | Real Estate News | Real Estate FAQ | Buying Mistakes | 5 Credit Factors | Credit Repair | 7 Terms to Watch | Glossary | Favorite Links | About | Contact | Blog | Burroughs Co.com | Home | WARNING get a | Data Crime & Commute | Featured Listings | RE School | My Listings