What You Need To Know About Real Estate Contracts
Trying to sell or buy a house can be a complicated process. Whether you’re a seller, buyer or real estate agent, you can be sure that you’ll be dealing with a lot of paperwork throughout the process. If you’re tired of constantly trying to decipher complicated contracts and agreements, Dan Burke is here to help!
Dan Burke Law is here to assist with any of your small business or real estate needs. Whether you’re an experienced buyer and seller or just purchasing your first house, having an attorney available to look over contracts can make a world of difference in the process. Here is a quick explanation and why opting for a purchase agreement is always a good idea.
Real Estate Purchase Agreements Explained
Real estate purchase agreements are a legally binding contract between a buyer and seller for the purchase of a property. This agreement specifies the terms and conditions of this transaction, disclosing price, closing date, description and any different contingencies that relate to the sale.
It may also include details about an earnest money deposit, which is a sum of money the buyer pays to show they are serious about the purchase. If this is the case, it will specify what happens to this deposit if the deal falls through.
There may also be extra clauses that specify inspections, appraisals and financing. If these conditions aren’t met, the people involved in the transaction may have the right to exit the contract without a penalty. The specifics will vary widely based on location due to different state laws surrounding real estate transactions. The team at Dan Burke is ready to help you navigate the details regarding your purchase agreement.
Understanding Real Estate Purchase Contracts
In Texas, there are a lot of different real estate agreements or contracts that are used. Here are some examples of the most common.
One-to-Four Family Residential Contracts
This is one of the most commonly used documents for buying or selling residential properties in Texas. This document outlines the terms and conditions of the sale, disclosing the price, description and different contingencies.
These agreements between a broker and owner are utilized when the owner is interested in selling their property. Depending on the listing agreement that you sign, it can range from who has the right to sell to acceptable prices for the property.
Residential Real Estate Listing Agreements
This document represents a formal agreement wherein the seller commits to the sale of a specified property, accompanied by a delineation of mutually acceptable pricing terms. Additionally, within this agreement, the seller assumes responsibility for covering the incurred closing costs.
Call Today To Close Your House With The Help Of Dan Burke!
Dan Burke, with 19 years of experience in real estate and small business law, stands out as an affordable and reliable option. Our expertise lies in handling complex real estate transactions, and we offer affordable, flat and hourly rates on small business and real estate contracts.
We’re committed to helping clients manage their legal expenses effectively. Choosing Dan Burke as your real estate lawyer is a cost-effective and sensible choice. Call today to take advantage of our flat rates and close your sale!