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Real Estate Contracts >Purchase Agreements

Whether it consists of several pages of big type or a few pages of fine print, a real estate purchase agreement is a serious, legally binding document. In most areas, there are "boiler plate" forms that spell out what each party agrees to do by certain dates and what happens if either side breaks the contract.

The best time to familiarize yourself with these forms is when you are beginning your search. Ask the real estate agent for a copy of the purchase agreement and then review it, keeping in mind that it has the force of law. If you don't understand the document, consult an attorney. If there is a dispute between buyer and seller, a court will hold you to what the purchase agreement specifies, not what you thought it meant or what you thought the real estate agent said it meant.

There are several key points you should be clear about. What are the deadlines for loan application and obtaining financing? If you decide to back out because of the structural inspection report, can you do that? Do appliances convey? When will the closing take place? If you understand these clauses before you find the perfect house, you will avoid a lot of stress and minimize the likelihood of misunderstandings.

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Q	What five basic components of a "smart home" can be controlled by technology?
A	Lighting and window treatments, security and access control, data communication, environmental/energy management, and audio/video entertainment can all be operated by a "smart home".
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RE/MAX Action Associates, REALTOR®, real estate agents and broker for Western Suburbs, Downers Grove and Oak Brook Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

RE/MAX Action Associates
RE/MAX Action
Corporate Office – 1550 Maple Ave
Lisle, IL 60532
Toll-free: 800-276-2600
Email: garyjacklin@NUMBER1EXPERT.com
RE/MAX Action Associates truly are "Mobile Agents. On The Move!" ® We are here to serve you every step of the way. RE/MAX Action's state of the art Corporate Office, Home Showrooms and mobile technologies are enabling our RE/MAX Action Team to provide our client's "Above the Crowd" service in their home purchase or sale. It's no wonder RE/MAX Action is the #1 Technology RE/MAX Office in Illinois and was named the RE/MAX Northern Illinois Technology Award winner for 2003 and 2004! Consummate professionals, RE/MAX Associates on average lead agents of competing brands in advanced real estate education and production. That's why they're known as "The Real Estate Leaders®" and why no one in the world sells more real estate than RE/MAX.

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