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| Agreement of Sale |
When the time comes for you to purchase your new home, both you
and the seller will have to come to an agreement.
The major component of the sale that both you and the seller
will have to agree on is the purchase price. On a smaller scale,
you both must come to an agreement on the down payment, what
stays and what goes, and any minor work the property may |
need,
etc.
Once you and the seller have come to an agreement, you will both
be required to sign the agreement of sale which is provided to
you by your realtor. Your realtor, who acts as your advocate
will go over all of the stipulations with you before you sign
the actual paper work.
Once the agreement of sale is signed, you can than move on to
following through |
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with all of the other necessary conditions
required to purchase your new home. An agreement of
sale is defined as follows:
A written signed agreement between the seller and the buyer in
which the buyer agrees to purchase certain real estate and the
seller agrees to sell upon terms of the agreement. Also known as
contract of purchase, purchase agreement, offer and |
acceptance,
earnest money contract or sales agreement.
About the author:
Jennifer Hershey has more than twenty years of experience in the
Mortgage Industry as a loan officer. She is the owner of
http://www.explainingmortgages.com/, a mortgage resource site
devoted to making mortgage terms and products easy to
understand.
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