condominium purchase agreement

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From the Office of STANDARD FORM CONDOMINIUM PURCHASE AND SALE AGREEMENT This day of 20 1. PARTIES AND MAILING ADDRESSES hereinafter called the SELLER agrees to SELL and fill in following described premises Unit No. the Unit of 2. DESCRIPTION fill in and include title reference Condominium Master Deed dated and recorded with Registry of Deeds at Book Page the Master Deed together with a an undivided percentage interest in both the common areas and facilities of the Condominium and the...
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Video instructions and help with filling out and completing condominium purchase agreement
This is Jeff O'Leary coming at you with another episode of keeping real estate real so what's included in an agreement of purchase and sale I'm gonna go over the important key points in this video however if you're working with me or if you're working with another good realtor they will explain it in much more detail when you actually come to the time where you're working with them so first of all in agreement you're gonna have the names of the buyer and the seller next you're gonna have the address of the property in question along with the legal description on top of that the buyers gonna put in how much they want to offer to pay for that home and also a deposit that they're gonna pay if the agreement it's accepted there's also gonna be the closing date that the buyer wants and again everything can be negotiated in this agreement but this is how it looks and an irrevocable so in real estate when we do an offer it's almost like analogy of a basketball so you get your offer you pass it to the other side when the other side gets it they only have three choices they can either accept it as it's written it within that your revocable time and the deal is done they can reject it and do nothing so they don't do anything in that time expires the deals dead or they can do what's very common make changes so I don't like this price I'm gonna change it to a different price every time there's a change made to a deal it's almost like a new offer being put back to the other party so the seller may say I don't like the price of the home I'll change it send it back to the buyer now it becomes an offer from the seller to the buyer that's what irrevocable means also in the agreement our inclusion such as fixtures and chattels what's included so maybe the fridge and stove come with the deal but the chandeliers excluded so all that's written in the agreement now the really important part of the agreement are the clauses in the schedule lay of the agreement this is where it goes through what's gonna happen in the deal and any protection in place for the buyer or seller a good example is a lot of buyers will want a condition on financing to make sure they qualify for the home before they commit to buying the home another good condition would be a home inspection so a lot of people want to get an inspection feel comfortable before the deal goes firm and binding there's a million different clauses you can do talk to your realtor and find the runt ones that are right for you but I'm just going over what's included in an agreement of purchase and sale so there you have it I'm Jeff will are you talking about the agreement of purchase and sale if you have any questions about real estate feel free to call or email me keep it real estate real and I'm out