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Seller's Handouts
7 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.
Copyright 2005. All rights reserved.
The Shannon Jones Team
6621 E. Pacific Coast Hwy.,
Suite 150
Long Beach, CA 90803
P: 562-961-1415 •
F: 562-961-1465
DRE #01247705
The Shannon Jones Team specializes your real estate needs! If you're buying or selling real estate in the Long Beach, Seal Beach, Signal Beach or Lakewood California areas in Orange County, contact The Shannon Jones Team at 562-961-1415 for outstanding service and phenomenal results.
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