What Is A Real Estate Purchase Agreement And Why Is It Important?

Feb 2, 2024

6-minute read

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A woman signing a contract, suggesting engagement in a real estate agreement or mortgage-related documentation.

A real estate purchase agreement is a legally binding agreement that governs the purchase and sale of a property. Made between a buyer and seller, it defines the terms of the transaction and the conditions under which a sale will occur.

Whether you’re planning to buy a new home, apartment or condo, or looking to sell a primary residence or investment property, it’s important to make sure your contract is ironclad.

Taking time upfront to spell out the terms under which a property transaction will occur and safeguarding against potential hiccups or unexpected events is important because it can help you avoid legal or financial hurdles on the back end.

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