dated . shallconsidered closed upon filing of documents and. . however, the loan application package must include the original sales contract .

getting a contract of purchase and sale is more common than you may realize. a purchase and sale agreement is a type of document that is received after the mutual acceptance of an offer. a basic contractual form is a contract of purchase and sale. a purchase and sales agreement is often referred to by different names based on the type of transaction and the state in which the sale takes place. for the agreement to be considered a contract of purchase and sale, all parties must agree to the following: â·â â â â â  both parties have to agree on what is being sold. the descriptions of the property need to be detailed and include any defects that the seller is aware if, if any.

• clause 5—time for performance; delivery of deed: the date for the closing is provided. a buyer always needs to have this extension in the back of the buyer’s mind and plan accordingly if there is a delay in the real estate closing. • clause 13—adjustments: because the closing may be mid-month, an adjustment will have to be made for taxes, some utility costs and most importantly, the value of any fuel oil left in the home fuel tank. • clause 20 warranties and representations: unless something to the contrary is included in the p&s, this clause states you are not relying on anything the seller and their agent told you.

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