Because buying or selling a piece of real estate is legally-binding, it should come as no surprise that a written contract needs to be involved. A real estate sales contract is designed to lay out all the terms of the purchase so that neither party is left confused regarding how the home sale is going to proceed. Once you’ve found your Montgomery home, here’s what happens next regarding your real estate contract.
In most cases, your Realtor® will write the contract and ensure everything therein is accurate. Contracts can be long and complex, and certain addendums may be necessary to add to the paperwork.
Typically, the buyer presents the contract to the seller via the agent, and the seller can either accept the contract, counter the contract with different terms from the original offer, or completely reject the contract. If the contract has been countered, the buyer can either accept the new contract, counter it, or reject it as well.
When it comes to the contents of the contract, it should ensure the property listed in the contract clearly matches the property you’re intending to buy. The contract will also include a written clause which ensures the sale of the home depends on receiving financing and having a successful inspection completed. This way, as a buyer, you are not held responsible for the home “as is” if there are too many things wrong with it.
It’s also a great idea to have a clause in your contract which includes a pest and termite inspection as part of the terms of the purchase. There are few things that kill the joy of a new home faster than finding out the walls are infested with tiny bugs which are eating the entire structure from the inside out.
Buying a new home can be a stressful experience, especially if you’re a first-time homebuyer. Having a detailed contract and an experienced Realtor® can be a great help by ensuring you’re getting exactly what you’re paying for and no unwanted surprises show up at the last minute. A legally-binding contract helps everyone in the situation be aware of their responsibilities.
When the time is right to buy or sell your home, we’re here to help you with all your real estate needs! Call me, Laura Austin, at (281) 789-2911, or (936) 321-2977 or email me at Laura@RealtyTx.net. You can also visit me at my website for available listings and additional information.