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Real Estate Contracts >Sales Contracts
The purchase or sale of a home is one of the most complicated business transactions most people will be involved in during their lifetime. Whether the print is large or small, there is a lot of it! The purchase agreement covers not only the price of the property, but has many paragraphs governing the terms under which it will be conveyed to the new owners.
When you list your home for sale or when you begin your search for a new home, ask your real estate agent for a copy of the standard sales agreement. Familiarize yourself with the document ahead of time, and make certain you understand the responsibilities of both parties between the initial meeting of the minds and the closing date. You should be aware of all of the deadlines in the purchase agreement. Each contract is different, but there are usually time limits covering the structural contingency, the financing application, the loan commitment, and the closing.
You greatly increase the chances of a smooth transaction by being fully informed about the sales contract.
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| Q |
Which law allows a person to give another individual up to $10,000 a year without any tax consequences?
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| A |
The Federal Gift Tax Law allows both parents to give a child (or anyone) $10,000 each in one year. |
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Craig Alexander Coldwell Banker Premier Properties 907 N Royal Avenue Front Royal, VA 22630 Cellular: 540-671-6082 Direct Phone & Fax: 540-242-3297 Email: craigalexander@NUMBER1EXPERT.com Email: craig@mris.com
Born and raised in the Front Royal area, I began practicing real estate in 1990. I offer a wealth of information about the area, including Front Royal, Warren County, Winchester, Frederick County, Flint Hill, Rappahannock County, Strasburg, Shenandoah County and Luray, Page County. A top producer in the region helping thousands of people since 1990, I provide the best service possible to my customers and clients and have been recognized in Top 5% Realtors nationwide . 
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