Home Buying: What To Pay Attention To In Purchase Agreement Contracts

The purchase agreement contract is one of the most important documents you will get a hold of when buying a home. This contract will give you the terms, conditions, and provisions the home purchase comes with. This is why you should read it with great attention to details and at the same time with careful analysis on whether there are ambiguities or not. Any questions must then be brought up to the seller to avoid future issues.

Here are some tips to get you guided:

First, take note that all of the owners must sign the agreement. If the owners are more than one in number, each of them should sign the document. Most states require both marriage parties to sign the contract even if the property title only indicates one name. If the property is sold by a corporation, the person signing the agreement should be able to commit the entire corporation to the transaction.

All Fixtures Included In The Sale Should Be Listed

The agreement should outline all fixtures included in the property. Technically, fixtures should already be part of the sale, but there have been cases where buyers find out that the property they are buying do not have countertops and other necessary fixtures. This is why it is better that these things are included in the agreement contract.

Zoning Ordinances Should Be Confirmed

One stipulation you can include in the agreement is your right to cancel your contract when zoning starts prohibiting the use of the property. Zoning ordinances could restrict a person’s use of a land or establishment and this can be a hindrance for someone’s desire to build a workshop within the area. This part of the contract should be specified to make sure that you do not end up regretting your transaction.