Marjorie Brown Proof

Marjorie T. Brown

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What Should You Expect to See in A Contract?

It is important to ask your agent to explain the key points that will most likely be in your multi-page contract, such as:

Accuracy of Information

It is incredibly important that you have the correct spelling of your name and property address.

List of Contingencies 

Such as that the sale depends on financing, an appraisal, a satisfactory home inspection and perhaps even the sale of your current home or other property. 

Effective Date of Contract 

Important because the contingencies on said contract may have time limits. 

Property Disclose Information

Depending on the laws within your state property owners will or will not be required to disclose information regarding to the property. 

Complete List of What Conveys with the Property

This will lay out the appliances or additional items that come with the purchase of the property and what items will not be included. 

Information about Move in Time

A specific layout of when the purchase is complete and a timeline for when moving in is allowed.

Possible “Kick out” Clause

In some cases, such as if your offer is contingent on the sale of your current home, the seller may add what is called a “kick out” clause, which means that the seller could accept another offer if one is made before your home is sold. 

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