You are ready to buy a home. You have probably followed the market or had your eye on a particular property or neighborhood for some time, and you want to make a move. On the other hand, you may be ready to sell your home, find something that better suits your growing family or downsize for your retirement. Whatever your situation, you will be dealing with many legal issues, and that means using contracts.
The real estate sales contract legally binds you to follow through with the sale or purchase of the property. This can seem daunting since buying a house is one of the most expensive and comprehensive commitments a person can make. Fortunately, most sales contracts contain contingencies that allow either party to back out of the transaction. You will want to be certain your contract has some very important contingencies.