A purchase agreement is the legal backbone of any home sale — but many buyers and sellers don’t fully understand what’s in it.
Common components include:
- Purchase price
- Earnest money deposit
- Contingencies (inspection, appraisal, financing)
- Closing date
- Items included/excluded (appliances, fixtures)
- Repair requests or seller credits
Once signed, it’s binding — so review it carefully. Work with a licensed agent or attorney to make sure your interests are protected and nothing’s left ambiguous.
