Buying or Selling a Home

The Purchase Contract

How is the offer negotiated?

Often the offer is the start of negotiations. The offer to purchase may be passed back and forth between the buyer and seller before being accepted by both. Remember, however, that any changes agreed to during negotiations must be initialed by both parties. Once you have agreed on terms, you will want to arrange for a home inspection and review the document with your attorney if, as noted above, you included these riders in your offer. In most cases, you will not want to apply for financing until the home inspection is completed and satisfactory.

>>What is an offer to purchase?
>>What might I include in my offer to purchase a home?
>>What is earnest money?
>>How is the offer negotiated?
>>How does an offer relate to the purchase contract?
>>Can oral promises constitute a contract?
>>When should we involve a lawyer?
>>What are the key provisions of the purchase contract?
>>What is an inspection rider?
>>What is an attorney-approval rider?
>>What is a mortgage-contingency rider?
>>May the seller refuse a mortgage-contingency rider or an inspection-contingency rider?
>>What happens to my earnest money deposit if we do not complete the sale?
>>Can a buyer sue a seller for backing out of the contract?
>>Are there any special considerations when you are buying a home from a builder?


Practical Law Home | Buying or Selling a Home | Basics of Buying a Home
Basics of Selling a Home | Why Real Estate Is Covered By Special Laws | Real Estate Brokers
*The Purchase Contract* | Financing a Home Purchase | The Closing | The Fair Housing Act
Where to Get More Information

Advertisement