Sell Nevada Real Estate Purchase Agreement

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Is a real estate purchase agreement binding?

What Is A Purchase Agreement? In real estate, a purchase agreement is a binding contract between a buyer and seller that outlines the details of a home sale transaction. The buyer will propose the conditions of the contract, including their offer price, which the seller will then either agree to, reject or negotiate.

How legally binding is a purchase agreement?

A purchase agreement is a legal document that is signed by both the buyer and the seller. Once it is signed by both parties, it is a legally binding contract. The seller can only accept the offer by signing the document, not by just providing the goods.

What is a purchase contract in real estate?

Every home sale starts with a real estate purchase agreement\u2014a legally binding contract signed by home buyers and sellers that confirms that they agree upon a certain purchase price, closing date, and other terms.

How can I get out of a real estate purchase agreement?

Real estate contracts for buyers If you want to get out of a real estate contract without meeting the terms, you risk losing your deposit. However, your contract will usually include contingencies that must be met by a specific date. If any contingencies are not satisfied, your deposit should be returned.

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