Purchase and Sale Agreement

Sign the more comprehensive "P&S." This includes the inspection, financing, and closing dates. Alexander Mortgage orders the appraisal, which is a professional third-party opinion of the value of the property based heavily on what similar properties in the area have sold for in the past six months. From there, a $300 fee is necessary to complete the mortgage application. You may need to write an additional check and give it to the "listing real estate agency" to show "more good faith" ($500 to $5,000 or a percentage of purchase price agreed to by both you and the seller). Again, these amounts, like the price and all the terms of a purchase, are negotiable and Alliance Realty Advisors, Inc. together with Alexander Mortgage will help negotiate the transaction. This money is supposed to be returned to you if you have followed the terms of the agreement, but sometimes a dispute arises and this deposit money is held until it is resolved. It is money at risk and the less the better!

  Residential P & S:                     Condominium P & S:                    Land P & S:

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