The Lowdown on a Basic Purchase Agreement
Copyright © 2015 Eric Tyson and Robert S. Griswold. All rights reserved.
The purchase and sale of real estate are always done in writing. The most critical document in any transaction is the sales contract, which is referred to as the purchase agreement in real estate transactions. After you have found a property that meets your investment goals, have your real estate agent prepare a real estate contract for presentation to the seller or her agent.
Purchase agreements differ based on your state, but the following figure shows a sample purchase agreement to give you an idea what one looks like. Click here to print this sample purchase agreement.