8 Contract Terms to Watch for

 

  1. The Option Period and Amount: too long and too little
  2. The Closing Date: is it reasonable
  3. Earnest Money: a larger deposit usually is a good indicator of a serious buyer
  4. Fixtures and personal property: this the list requested acceptable
  5. Repairs: determine sum of all repairs being requested
  6. Contingencies: factors the buyer wants before the contract move forward – inspections, selling another home, mortgage, attorney review of contract.
  7. Contract expiration date: is it reasonable
  8. Date of Possession: is it reasonable or is there rent issues

The above checklist is for informational purposes only and is not a substitute for legal, tax or other professional assistance