What Should I Look for in a Contract?
It’s a good idea to read the entire contract - and although it seems like a lot, it’s not that bad. I usually send over a blank copy beforehand to my clients so they can read it at leisure and don’t feel overwhelmed by the size of it when it’s time to sign.
However, it is a good idea to especially read the parts of the contract that have been typed in or written by your Realtor. These are the negotiable parts - the rest is California policy for home purchases.
Pay special attention to the numbers on page one - this will include the purchase price, down payment and good faith deposit. Sometimes it might also include cash back to buyer for closing costs. Also pay very close attention to page two and the check boxes. This will specify who pays for what inspections and clearances and title and escrow. Currently, most Realtors in and around Sacramento split escrow costs 50-50 between buyer and seller, but make sure you know approximately what those costs are.
Other important things to consider are how long escrow will be, when you will receive keys, is there any debris on the property that needs to be removed by the sellers and how long you have to wait to hear back from the sellers.
