...purchase agreement?
2006-12-23 15:37:53 · 6 answers · asked by MR. Tumnus 3 in Business & Finance ➔ Renting & Real Estate
You mean fill out and sign a contract when really there is not going to be a sale?
It could be done so one of the parties could commit some type of fraud. Seller claim that his ex wife can't have the house because he already sold it? Get someone to loan him money based on thinking he'll be getting money out of the sale.
2006-12-23 16:25:46 · answer #1 · answered by teran_realtor 7 · 1⤊ 0⤋
I'm sorry, but can't think of another reason. The only thing ---- if you are the buyer --- is to make double sure to get the seller to do a land survey. And make sure you are not paying way above the local interest rate. If you want to sell property...... be careful you don't try to "mess with" the buyer. Remember when a handshake was the way folks did business?
2006-12-23 16:23:51 · answer #2 · answered by SNOOP 4 · 0⤊ 0⤋
You also use it to list contigencies as a buyer, is it subject to inspection or appraisal. what happens if the parties don't agree on a item, what's the timeline to work it out, by what date will the due diligence be completed.
It is also used to agree on when posession takes place which varies by state. It should also mention what seller is representing (clean title, condition of property, etc)
For any real estate transaction, you want written documentation signed by both parties showing agreement. Anything verbal will not hold up in court or when memories fade as time goes by.
2006-12-23 19:07:43 · answer #3 · answered by too_sly_22 1 · 0⤊ 0⤋
Teran had some good answers - I didn't think of them til after reading those.
As for Snoop, gotta keep in mind when someone's ticked about some wrong they've experienced in the past they may give wrong or slightly off information. As for having the Seller do the survey, that rarely happens, unless they already have one done from some time in the past. Usually this falls upon the buyer, in their due diligence period, to contract to have done, just like appraisal and inspection.
Good luck!
2006-12-23 17:06:56 · answer #4 · answered by trblmkr30 4 · 0⤊ 0⤋
Yahoo does not furnish that service. that is a fave trick of thieves. they furnish you with a link to a web page that delivers to guard you in the course of the vehicle purchase. that is a pretend. You lose your money once you're the customer and the vehicle once you're the seller.
2016-12-01 03:20:21 · answer #5 · answered by ? 4 · 0⤊ 0⤋
you can use a napkin to write a purchase contract..as long as..
date, price, etc are on it..
2006-12-24 00:35:56 · answer #6 · answered by m2 5 · 0⤊ 0⤋