Is Your Condo for Sale? Check All Offers for These Terms and Circumstances Prior to Signing
When a purchaser wants to create an provide to purchase your condo, they normally do so by means of a Realtor working with a document named an Agreement of Purchase and Sale (also called "an offer"). Once you sign this agreement, you make a binding promise to the buyer.
Your signature around the Agreement of Acquire and Sale is greater than a mere offer you to complete some thing or even a easy statement of intention. Your signature, in addition to the signature in the buyer, creates a legal contract which is binding on you along with the purchaser.
Effective transactions hinge on each and every party's understanding of what's being bought and sold, when, for just how much, how, and under what terms and conditions. Sadly, seemingly innocent assumptions can cause disappointment at minimum, or escalate to serious disputes and litigation.
Some sellers sign the Agreement of Obtain and Sale without having reading or understanding the terms, clauses and situations in the agreement. Here are a handful of on the major products which you need to study and fully grasp prior to signing the contract.
Sale price: This really is the total amount that the buyer is going to spend to purchase your condo. It can be not the quantity of revenue that you are going to pocket. You should subtract from the sale cost such items as your outstanding mortgage balance, realtor commission, legal charges and closing charges. Be certain you comprehend what your net proceeds from the sale are going to be just before you sign.