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7 Terms to Watch for in a Purchase Contract

The closing date. See if the date the buyer wants to take title is reasonable for you.

Date of possession. See if the date the buyer wants to move in is reasonable for you.

The earnest money. Look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.

Fixtures and personal property. Check the list of items that the buyer expects to remain with the property and be sure it’s acceptable.

Repairs. Determine what the requested repairs will cost and whether you’re willing to do the work or would rather lower the price by that amount.

Contingencies. See what other factors the buyer wants met before the contract is final—inspections, selling a home, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they won’t drag on and keep your sale from becoming final.

The contract expiration date. See how long you have to make a decision on the offer.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2005. All rights reserved.



Preston Hollow Real Estate Agent - Park Cities Luxury Estates

If you're in the Home & Real Estate market to buy or sell your home in the Preston Hollow, Park Cities, Highland Park areas, call me. You can rely on my 24 years real estate experience, legal background and local market knowledge. My strengths are service, negotiations, diplomacy and making the home buying and selling process fun and easy for you. I grew up in Dalton, Georgia around my family's jewelry business. I learned at a very early age how to place my clients on the pedestal they deserve. Getting you what you want is my ultimate aim.

Designations, Affiliations, Awards: Certified Residential Specialist; Accredited Buyer's Representative; Certified Luxury Home Marketing Specialist; Certified Home Marketing Specialist, Certified Negotiating Specialist; Founding Associate Keller Williams Elite; Keller Williams International Gold Medalist

BERNICE EDELMAN
Dallas Realtor
Keller Williams Elite Properties
8201 Preston Road, Ste: 265
Dallas, Texas 75225
214-420-3771 Office
214-384-7700 Cell
bedelman@kw.com

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Preston Hollow Realtor, Bernice Edelman
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