Ca Home Purchase Agreement

apr 082021

1. Purchase price, financing and deposits: the purchase price, the amount of the down payment (usually 1.5 to 3% of the purchase price) and whether the deposit is to be made in stages during the period of the event, the amount of the new loan, the necessary secondary financing, including whether the buyer requires the seller to provide financing, and the amount that must be financed by the buyer at the end of the trust contract, are all included in the contract. If the buyer wishes to clarify the terms of the new loan required to close the fiduciary loan, the interest rate, duration, etc., may be included. The duration of the trust period must also be fixed. Most offers are written with the sale based on the property for the purchase price 2. Counter-offers: The seller may return the initial sales contract with the buyer`s offer, indicating that he accepts the terms offered by the buyer, with the exception of certain items. In the period following the delivery of the counter-offer, the seller determines how long the buyer must accept the counter-offer. The buyer may accept the counter-offer or make another counter-offer to the seller. This process of counter-offer from the seller, followed by a counter-offer from the buyer, can take place as often as necessary to allow both parties to finally agree on the terms of the final sale contract. The California Residential Purchase Agreement (California Association of Realtors form RPA-CA) is a standard form sales contract It has been published substantial changes in revised forms in 11/14 and 12/15, with changes in language in many paragraphs.

E. Whether the house is a condominium or part of an unit development project (P.U.D.), if so, The seller has 3 days to ask the owners` association for relevant documents, including financial statements, budget for current years, an analysis of the necessary amount of reserves and minutes of meetings The sales contract should provide for repayment of your down payment if the sale is to be cancelled because you cannot obtain a home loan. For example, your sales contract may allow the purchase to be cancelled if you cannot get a home loan at an interest rate or at a rate lower than the one indicated in the agreement.

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