| The Purchase Agreement or offer & acceptance is a legally binding document whereby the buyer agrees to purchase for a certain price, and the seller agrees to convey the title. The contract also serves as directions to the escrow company to close the transaction. When your Dalrymple Residential agent prepares your contract, he or she should be clear about the following details:
There are several customary closing costs that are split, not necessarily equally, by the buyer and seller. Your Dalrymple Residential Agent will assist you in knowing what these costs are and normally who to pay what
The closing date is the date in which the proceeds of sale are conveyed to the seller and the deed has been recorded in the county recorder records. The date of closing can affect your closing costs (make sure to ask your lender for a good faith estimate).
This date is agreed to between the buyer and seller during the negotiations. If the seller remains in occupancy after closing, then there should be a rent back agreement in place prior to closing.
|
