What Is A California Residential Purchase Agreement

Posted on Thursday, October 14th, 2021 at 9:30 pm

In California, in addition to the purchase agreement, you must complete the following documents: If a buyer does not receive any of the disclosures listed below, they may have 3 days to terminate their contract (or 5 days from the date of shipment) by giving notice to the seller or seller`s representative (CC § 1102.3). A residential real estate purchase and sale agreement in California is a contract between a natural/legal person selling a property and the natural/legal person who wishes to purchase that property. The parties, buyer and seller, will agree on the terms of this Agreement in order to reach a mutually beneficial agreement. A price is set by the seller (and possibly negotiated by the buyer) and a closing date of the sale is implemented. A purchase and sale agreement also includes agreements and terms that cover everything from financing options and serious money to the condition and inspections of the property.

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