Straight Talk About Real Estate

If you are willing to pay the price the seller is asking for, or on the selling side, if the buyer is willing to pay the price you are asking for, you have a deal, right?

Price is not the only consideration when you make an offer or accept an offer to purchase.

Here are other issues you need to consider:

1. How long is the escrow period? What if the buyer need to move in quickly, but the seller is not ready to move out?
2. What repairs are the seller willing to make? Is he paying for all the repairs of the termite report? How about any other defects?
3. Is the sale contingent on the buyer’s sale of another house?
4. After closing escrow, is the seller allow a few more days to move?
…and much more…

The official purchase contract from the California Association of Realtors is 10 pages long, detailing all the terms.
If you are thinking of buying a property without an agent, make sure you cover all the bases.