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Real Property Agreement

If the buyer decides, between signing the sales contract and closing the house, that he wants to resign for a reason that is not stipulated in the contract, he loses his serious money and the seller puts it in his pocket. However, a buyer can get his serious money back if he returns for a reason defined in the contract. In California, a seller of real estate, whether commercial or residential, is required to disclose all known “material facts” that are not known or visibly observable by the purchaser. A fact is generally considered essential when it affects the value or will of the property. A seller`s failure to disclose a known material fact may result in the seller being held responsible for the buyer`s erroneous presentation or fraud. Although money is the most common consideration, it is not necessary to have a valid real estate contract. A serious deposit of money from the buyer usually accompanies an offer to purchase real estate and the down payment is held by a third party, such as a securities company, a lawyer or sometimes the seller. The amount, a small fraction of the total price, is indicated in the contract, the rest of the fee must be paid at the conclusion. In rare cases, other valuable instruments, such as securities and/or shares, or other tradable instruments, may be used for remuneration. Other hard assets, such as gold, silver and all that is wertistam, can also be used or in other cases of love (where it can be shown that it existed between the parties). However, the provision of serious money is a credit on the final selling price, which is usually the main or sole consideration.

Notarization by a notary is not normally necessary for a real estate contract, but many control offices require that the signature of a seller or promoter on a deed be notarized to register the deed. The real estate contract is generally not registered with the government, although declarations or declarations of the price paid are usually necessary to be submitted to the recorder`s office. When the buyer signs the contract, he often pays a small sum – usually 1 to 3% of the sale price of the house – to indicate that he is serious about buying the house. The money is held in trust until it is closed by a third party, such as the seller`s real estate lawyer or a securities company. The amount must be indicated in the contract and the money is credited to the final negotiated purchase price. Most people apply it to down payment or closing fees. In real estate, a sales contract is a contract between a buyer who wants to buy a house or other land and a seller who owns and wishes to sell this property. A real estate purchase contract is usually offered by a buyer and is subject to the seller`s acceptance of the terms. This paperwork can only be carried out, and its conditions are enforced by the dated signature of the buyer, seller and agent. This task is called “XXXIV. signature. Only the seller of the property, the buyer of the property and the agent who makes the transaction can complete this section. In short, a properly developed “as-is” provision should allay a seller`s concerns that the buyer claims that the seller has guaranteed or provided certain assurances regarding the condition of the property, but that an “as-is” provision does not limit, mitigate or affect the seller`s obligation to provide the necessary information regarding the property.