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Contract FAQ's

Last Update 2 years ago

Who establishes the Binding Agreement Date on a Purchase & Sale Agreement? Is Title Insurance a Closing Cost, and who pays for it? Is a Seller required to respond to the offer I submitted before the Expiration Date? Who pays for title? Closing has occurred and the Seller is not out of the house yet. What do I do?

How do I write an offer contingent on sale of home?

My buyer has to sell their home before they can buy

Brett Ratkowski

Last Update 2 years ago

Your buyer has found the perfect home, but they can't buy it until their home sells.

  1. Go to the Purchase & Sale Agreement and find the Special Stipulations section and write...
  2. "Offer contingent on the successful sale and closing of (ADDRESS) with MLS#(NUMBER HERE)."
  3. If Home is Under Contract Already, Add "Home is Under Contract as of (DATE) and expected to close on (DATE)".
  4. If Home is Under Contract Already, and passed certain checkpoints in the process i.e. inspection, contingency, etc...include those details as well.
  5. If Home is Not Listed, Add a Line that says "Home to be listed on (DATE) at (PRICE) and Days on Market are (NUMBER)." Include a copy of the comps for the listing with the offer.

If you have a specific question beyond this information. Feel free to hit up the live chat to the right.

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