Understanding Your Purchase Agreement

Published on October 15th, 2011 // Filed under: Buyer Tips

There are many aspects of a Residential Purchase Agreement that can be intimidating if you don’t understand what it is you’re signing.

I have a perfect example on a recent sale I made  in the Santa Clarita Valley.

A REALTOR® brought an offer on a listing I had, and the buyers REALTOR® didn’t include the Wood Destroying Pest form.

The unsuspecting Buyer, not knowing this should be included, signed off on the offer, and the seller did as well.

Without the proper paperwork, the Seller wasn’t obligated to perform a Termite Inspection for the buyer.

Fortunately, the Seller did agree to complete the Termite Inspection, and present the Buyer with a certification that the home was free of any infestation.

When buying your home, make sure you have an experienced professional to represent you.

As always, feel free to call me with any real estate questions or concerns you may have.


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