The basic requirements to make a real estate contract valid are:
There should be a mutual agreement between two parties to enter in to a contract.
A contract for purchase and sale of real estate should be written because if one backs out, it will be extremely useful for the other person.
A contract should identify the parties with their full names and initials.
A legal description about the property is required because the contract should identify the property exactly.
A contract should also state the purchase price of the property.
A contract should have consideration because this is the value that binds a contract.
A contract must be signed by the two parties for it to be effective.
For more information visit: http://www.rementor.com/n-apartmentinvesting.shtml
There should be a mutual agreement between two parties to enter in to a contract.
A contract for purchase and sale of real estate should be written because if one backs out, it will be extremely useful for the other person.
A contract should identify the parties with their full names and initials.
A legal description about the property is required because the contract should identify the property exactly.
A contract should also state the purchase price of the property.
A contract should have consideration because this is the value that binds a contract.
A contract must be signed by the two parties for it to be effective.
For more information visit: http://www.rementor.com/n-apartmentinvesting.shtml
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