Untitled Document

Generally, the sale price is the most fundamental matter for the purchaser. It is essential to know how much you can realistically afford.

The agreement of sale should stipulate that your deposit could be refunded if the sale has to be terminated because you are unable to secure a mortgage loan.

It is practical to have a home inspection conducted prior to purchase. The purpose of this inspection is to determine the condition of the plumbing electrical and heating and cooling systems. In addition, the overall structure of the home should be examined to ensure that the foundation is sound, roof, siding, windows, doors and other structures are in good condition. Oftentimes, buyers tend to pay for this service to avoid conflict of interest. Hiring your own inspector ensures that she/he is working for you.

An agreement with the seller must be reached as to how the expenses (i.e. taxes, water, sewer charges, condominium/ co-op fees, utility bills) related to the property are to be divided on the date of settlement. Settlement costs can be negotiated between the seller and buyer.

Tnh Realty.com	Terms of Agreement of Sale
Sale Price	Generally, the sale price is the most fundamental matter for the purchaser. It is essential to know how much you can realistically afford.
Title	This term refers to the legal ownership of the property. In essence, the seller should deliver a title that is free and clear of all claims (i.e. tax, mortgage, mechanic liens) or encumbrances to the property at closing. These matters, such as who will pay for and who will conduct the title search can be negotiated.
Mortgage Clause	The agreement of sale should stipulate that your deposit could be refunded if the sale has to be terminated because you are unable to secure a mortgage loan.
Pests	Your lender will require that a certificate is issued by a qualified inspector stating that the home is free from termites and other pests/ infestations and pest damage. It is sensible to reserve the right to cancel the agreement or request immediate treatment and repairs by the seller if pest damage is discovered.
Home Inspection	It is practical to have a home inspection conducted prior to purchase. The purpose of this inspection is to determine the condition of the plumbing electrical and heating and cooling systems. In addition, the overall structure of the home should be examined to ensure that the foundation is sound, roof, siding, windows, doors and other structures are in good condition. Oftentimes, buyers tend to pay for this service to avoid conflict of interest. Hiring your own inspector ensures that she/he is working for you.
Lead-Based Paint Hazard in Housing Built Before 1978	It is important to keep in mind the year in which a home is built. If the home is built before 1978, you have legitimate rights concerning lead-based paint and lead poisoning hazards. The sales agent must disclose what the seller knows about the home's lead-based paint or lead-based paint hazards and hand-over any pertinent records or reports. Finally, the seller must attach a disclosure form to the agreement of sale which will include a Lead Warning Statement.
Sharing of Expenses	An agreement with the seller must be reached as to how the expenses (i.e. taxes, water, sewer charges, condominium/ co-op fees, utility bills) related to the property are to be divided on the date of settlement. Settlement costs can be negotiated between the seller and buyer.