Purchase and Sale Contracts

The agreement between you and the seller to purchase the property must be in writing with a document called the Purchase and Sale Contract. Our office can prepare or review the Purchase and Sale Contract on your behalf. The Purchase and Sale contract is the most important document in the transaction as it spells out the terms of the purchase and provides for certain contingencies which will protect your interests.



Any change to the agreement between you and the seller must be made by a written Addendum to the Purchase and Sale Contract. A verbal agreement to change the contract is not valid. Examples of common changes are moving the closing date, extending the time to satisfy contingencies, and concessions for inspection issues. Please let us know, and we will be happy to assist with any changes to your contract.

Please be alert to the deadlines your contract contains to satisfy contingencies or to provide notices of termination pursuant to contingencies. Your contract may contain deadlines for financing, inspections, water test, radon, appraisal and other contingencies. If the time to satisfy a contingency expires or you fail to provide a termination notice within the required time, you will lose the benefit of that contingency. If you miss the closing date in your Contract, you will be in default which can result in not being able to buy the property, losing your deposit and other damages. Our office does not track these deadlines, so we encourage you to watch these dates closely.