{"id":369076,"date":"2016-04-04T10:47:12","date_gmt":"2016-04-04T15:47:12","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/realestate\/buying-a-home\/home-sale-contracts.html"},"modified":"2023-10-31T12:05:53","modified_gmt":"2023-10-31T17:05:53","slug":"home-sale-contracts","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/realestate\/buying-a-home\/home-sale-contracts.html","title":{"rendered":"Home Sale Contracts"},"content":{"rendered":"\n
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Home Sale Contracts<\/h1>\n
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\n By Melissa McCall, J.D.<\/a> | Legally reviewed by Katrina Wilson, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

A home sale contract<\/a> is a written agreement between a seller and a homebuyer for a home purchase. The real estate purchase agreement helps all home sale parties avoid post-sale issues, such as a faulty title or a termite infestation.<\/p>\r\n

Buyers and sellers have a few options to create the final agreement. Hiring a real estate attorney is the best option. An experienced real estate attorney understands all aspects of real estate transactions and what to include in a contract.<\/p>\r\n

Another option is using a standard form. Some real estate agents use a standard form containing some required language. While these forms may include specific requirements for a home sale, they are no substitute for legal advice.<\/p>\r\n

This article explores some of the elements of a real estate purchase agreement.<\/p>\r\n

Due Diligence<\/h2>\r\n

Before entering into a binding contract, the homebuyer should do their due diligence. Do not solely rely on the Realtor or homeowner to provide details on the home’s condition. Resources such as a title company or professional home inspector can help buyers avoid significant issues.<\/p>\r\n

Title<\/h3>\r\n

Although the title on most homes transfers via a warranty deed<\/a>, the homebuyer should contact a title company for a title search. Warranty deeds confirm the seller is the rightful owner of the property. Title companies search public records to confirm the rightful owner and ensure no encumbrances on the real property. Title searches can uncover the following:<\/p>\r\n