Purchase Agreement: Who Draws Them Up and How Do They Work? MABA Massachusetts RealEstate FirstTimeHomeBuyers

A purchase agreement is a contract that outlines the conditions of the sale of a home. Once the buyer and seller have agreed to these conditions and apply their signature, this document becomes legally binding.

A purchase agreement covers different topics such as home financing, repairs, closing details, and the final date the buyer can take possession of the property. If certain terms are not met, the sale may not go through. This is why drawing up a purchase agreement and following through with each detail carefully is essential in a For Sale By Owner (FSBO) deal.

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FIRST TIME HOMEBUYERS