An effective agreement is a legal agreement between a prospective buyer and the seller of the property. Laws differ from state to state, but the agreement may require consideration in order to be legally binding.

The deposit (first and subsequent deposit) is to be retained in the closing agent’s escrow account pending the satisfaction of the effective agreement’s conditions or contingencies.

Some important tips to keep in mind to streamline the process even further:

Keep written records of everything.

To ensure clarity, all verbal agreements, including counter-offers and addendums, should be transcribed and converted to written agreements signed by all parties. I will help you create all of the paperwork for your sale and ensure that you have duplicates of everything.

Stick to the schedule.

Now that you’ve decided on an offer, you and the buyer will be given a timeline to record each stage of the real estate contract closing procedure. Meeting the requirements on time helps a smoother flow of discussions and also ensures that none of the parties involved violate their commitments. I will keep you updated throughout the process so that you are always prepared for the next step.

Have you ever considered what happens during the property acquisition process or what you might need during your preparation to acquire it? If so, click one of the options below to learn more.