Advice to buying and selling homes
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Some advice to buying and selling your house
2. Contract to buy and sell house
2.4 What the seller should put in the contract?
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The seller will want to be sure that the contract specifies that

(1) s/he (the seller) is entitled to damages (usually the deposit) if the buyer does not fulfill his or her end of the contract - the amount can vary from as low as 1% to as much as 10%, generally depending upon the location

(2) all statements made about the property by the seller are accurate

(3) any of the buyer's contingencies - like inspections or financing - will be taken care of in a reasonable amount of time

2.1 What is a contract?
2.2 What happens after a buyer and seller agree on a price?
2.3 What the buyer should put in the contract?
2.4 What the seller should put in the contract?
2.5 If the inspection is not satisfactory, can the buyer back out on the deal?
2.6 With all these signed agreements, is it important to have a lawyer?
 
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