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Real Estate Contracts >Purchase Agreements

Whether it consists of several pages of big type or a few pages of fine print, a real estate purchase agreement is a serious, legally binding document. In most areas, there are "boiler plate" forms that spell out what each party agrees to do by certain dates and what happens if either side breaks the contract.

The best time to familiarize yourself with these forms is when you are beginning your search. Ask the real estate agent for a copy of the purchase agreement and then review it, keeping in mind that it has the force of law. If you don't understand the document, consult an attorney. If there is a dispute between buyer and seller, a court will hold you to what the purchase agreement specifies, not what you thought it meant or what you thought the real estate agent said it meant.

There are several key points you should be clear about. What are the deadlines for loan application and obtaining financing? If you decide to back out because of the structural inspection report, can you do that? Do appliances convey? When will the closing take place? If you understand these clauses before you find the perfect house, you will avoid a lot of stress and minimize the likelihood of misunderstandings.

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Q	Who received the largest land grant ever given to an English subject for only two beaver skins per year?
A	William Penn, the Quaker leader, received Pennsylvania and Delaware to settle a debt owed his father by King Charles II.
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Kay Burns, REALTOR®, real estate agent and broker for San Mateo, Half Moon Bay, El Granada and Moss Beach, California home listings, property and land for sale

Kay Burns
Dolphin Real Estate
1700 S. El Camino Real, Suite 200
San Mateo, CA, 94019
650-996-5217
Cell: 650-996-5217
650-712-7915
Fax: 650 638-1634
Email: kay@kayburns.com
Kay Burns has been an active licensed Real Estate Agent since 1989, specializing in San Mateo County properties on the Coastside. She has worked with The Prudential Cypress Coast, RE/MAX Independence, RE/MAX Arrow and currently serves RE/MAX Dolphin Real Estate.

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