Should I have a lawyer review my house contract?
While some states require that an each party to a real estate transaction retain a lawyer to represent their interests at the closing; California does not
. ... Your real estate agent will help you complete this form, and you need not have an attorney review it.
What contingencies are included in a purchase agreement?
Below is an explanation of what these contingencies are and how they work so that you can go into your transaction feeling informed.
- Inspection Contingencies. In the home buying process, inspections are for your benefit, as the buyer. ...
- Financing Contingency. ...
- Appraisal Contingency. ...
- Title Contingency. ...
- Home Sale Contingency.
Does lender need purchase agreement?
You do not need to have a signed purchase contract in order
to apply for a mortgage loan and receive a Loan Estimate. ... Learn more about what information you need to provide to a lender in order to apply for a loan and get a Loan Estimate. See a sample Loan Estimate form with interactive tips and definitions.
What happens after purchase agreement is signed?
Once the purchase agreement is signed and the earnest money is deposited
, the buyer has the legal right to purchase the property should all agreed upon conditions be satisfied.
What are the three most common forms of legal descriptions?
There are three common methods used to describe real estate: metes and bounds, government survey, and lot and block