The Home Purchase Contract

You are under contract

It’s a contract to purchase a home so you ought to know the home purchase contract!

You have contractual obligations when purchasing a home.

Now more than ever, you need to know your home purchase contract. These documents act as your roadmap to successfully completing your home purchase.  At this stage, you—the Buyer—have agreed with the Seller on specific terms. Both of you signed off on a clear list of duties and contingencies that each party must fulfill.

Do the words “UNDER CONTRACT” make you nervous about a home purchase?

It might sound burdensome at first. But in reality, it means both sides have agreed to move forward with a shared commitment to protect each other’s interests.  You want a place to live, grow, and build equity for your future. Sellers, on the other hand, have created memories in the home and are now ready to move on. Still, they want to safeguard the equity they’ve built over the years.  Being “under contract” to purchase a home means both sides reached a mutual agreement. Each party believes the terms support their individual goals. It’s not “us versus them”—it’s a meeting of the minds, with the contract outlining the path and the responsibilities needed to reach the closing table.

Can YOU keep a promise?

Each party expects the other to meet their obligations. That’s only fair—if both sides commit fully, the transaction flows more smoothly. Therefore, your home purchase contract includes safeguards and solutions in case unexpected issues arise. Sometimes, these issues require shifts in responsibilities. That’s why having a skilled agent with foresight during negotiation makes all the difference.

In a Home Purchase Contract – “Time is of the Essence”

Once under contract, timing becomes critical. You must meet your deadlines and carry out your responsibilities promptly. That’s why it’s so important to work with a Real Estate Agent who can stay on track, guide you through each step, and keep you well-informed with clarity and confidence.  At SandPeak Realty, we help you stay organized, on schedule, and in control.  We use a customized Buyer’s Private Web Portal to give you real-time access to what’s happening with your transaction. You can view your timeline, track progress, review documents, and easily find contact information for everyone involved. The purchase contract gives us a list of obligations but being organized with a system keeps us in control.