When making an offer on a home, a buyer may add contingencies to their contract. There are many types of contingencies that apply to myriad situations and can protect the buyer from unexpected issues in the transaction. Sellers can also add their own contingencies either on their own or in counteroffers to protect their interests in the sale....

Image by Burst from Pexels Once you and the seller agree on a price for the seller’s property, you must sign a purchase agreement. Because a contract has to have consideration to be considered valid, buyers put down “good faith money,” which is held in escrow by an attorney, real estate broker or a title company. This could...

Photo by Gerd Altmann via PixabayOnce you sign a purchase agreement, whether you are the buyer or seller, it is very difficult to back out of it. However, as a buyer, you are able to back out if your real estate agent drafts the contract properly. Real estate agents use a standard contract. That does not mean that...

Photo by Mohamed Hassan via PixabayBuying and selling real estate is a complicated process that takes time. Because you are making a life decision and dealing with strangers, you should always have a valid purchase contract. Real estate agents use a standard contract, but the buyer and/or seller may make changes to that contract. In making changes, be...