Real Estate Purchase Agreements: Not Exactly Ten Pages of Legal Mumbo-Jumbo

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In considering a purchase or sale of real estate, whether represented by a real estate professional or braving the process on your own, one of the most important first steps in the process is drafting and signing the Agreement of Sale. The Agreement of Sale is the seller’s promise to sell and the buyer’s promise to buy the subject property. This document is often encountered as a standard “form” agreement with a white top sheet and carbon sheets (pink and yellow) underneath; however, it can appear in any number of forms, some drafted by attorneys and some drafted by a non-attorney seller. When evaluating the Agreement of Sale, it is important to know that although it appears to be a complete form, with little room for amendments, you have the right to make changes to this important document governing the transaction.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Evan Pappas, Tucker Arensberg, P.C. | Attorney Advertising

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