While buying and selling real property is a major milestone for most individuals, many parties that engage in real estate transactions are not formally educated on real estate contracts. This comes as no surprise — a family may only purchase real estate two or three times over the course of their lives. Sunwest Escrow — your real estate contract specialists in Albuquerque — believes that all individuals purchasing or selling a piece of property should have a basic understanding of the aspects that make a real estate contract legally valid. We’ve identified the following elements which are necessary for legally valid real estate contracts.
The 3 Most Important Elements in a Legally Valid Real Estate Contract
At its core, a real estate contract must be a written document detailing the conditions of a sale of property that have been agreed upon by the buyer and seller. However, there are many other elements that also make these contracts legally binding, including:
Original Source: https://sunwestescrow.blogspot.com/2019/05/the-elements-of-legally-valid-real.html
Sunwest Escrow, Inc. is a customer-oriented servicer of private mortgages, real estate contracts, and other installment type notes. Sunwest Escrow, Inc. was formed by the owners of Sunwest Escrow, LC in order to provide a wider range of financial products.