What is a purchase agreement?

A purchase agreement is a legally binding document that outlines the terms of the sale of real estate in California. It outlines the details of the transaction, including the purchase price, closing date, and financing information. It also outlines any other conditions of the sale, such as inspection requirements and transfer of title. The purchase agreement is signed by both the seller and buyer and is often used for both residential and commercial real estate. It is important for the buyer to understand all of the terms of the agreement before signing, as it is a legally binding document. When a purchase agreement is signed, it is binding and the buyer is obligated to purchase the property, while the seller is obligated to provide a deed and transfer title. The purchase agreement should also outline the responsibilities of the buyer and seller during the transaction, including which party is responsible for certain costs, such as inspection fees and legal fees. The purchase agreement is one of the most important documents in real estate transactions. It is important for both buyer and seller to review the agreement carefully before signing, as it outlines the details of the sale and any other conditions of the transaction.

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What is a purchase agreement?

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