7 terms to watch for in a purchase contract
1. The closing date . See if the date the buyer wants to take title is reasonable for you.
2. Date of possession . See if the date the buyer wants to move in is reasonable for you.
3. The earnest money . Look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.
4. Fixtures and personal property . Check the list of items that the buyer expects to remain with the property and be sure it's acceptable.
5. Repairs . Determine what the requested repairs will cost and whether you're willing to do the work or would rather lower the price by that amount.
6. Contingencies . See what other factors the buyer wants met before the contract is final-inspections, selling a home, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they won't drag on and keep your sale from becoming final.
7. The contract expiration date . See how long you have to make a decision on the offer.
Recent blog posts
- Dublin Ohio MLS
- Money Magazine recently named Dublin as one of the best cities
- 7 terms to watch for in a purchase contract
- The Dublin school district
- The Dublin city government
- Remodeling that pays
- Does moving up make sense?
- Understanding capital gains in real estate
- What Is appraised value?
- Moving tips for sellers


