Each Office Independently Owned and Operated
Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS
Terms to Watch for in a Purchase Contract

The closing date. See if the date the buyer wants to take title is reasonable for you.


Date of possession. See if the date the buyer wants to move in is reasonable for you.


The earnest money. Look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.


Fixtures and personal property. Check the list of items that the buyer expects to remain with the property and be sure it’s acceptable.


Repairs. Determine what the requested repairs will cost and whether you’re willing to do the work or would rather lower the price by that amount.


Contingencies. See what other factors the buyer wants met before the contract is final—inspections, selling a home, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they won’t drag on and keep your sale from becoming final.


The contract expiration date. See how long you have to make a decision on the

Rex A. Mazonowicz
Sedona Realty
150 Hwy 179 Suite 4
Sedona, AZ 86336
Office: 928 282 2535
Mobile: 928 607 4351
Fax: 928 282 7029
Rex@SedonaHomesUSA.com
www.SedonaHomesUSA.com