03 December

Purchase & Sale Agreements

Who Prepares The PSA?
In a land transaction, the Purchase and Sale Agreement (PSA) is the key legal document for the agreement between the seller and buyer.  Also possibly referred to as the land contract, this agreement will stipulate

05 November

Land Transactions

How Do Option Contracts Work?
In a previous post, we talked about option contracts as they relate to longer escrow periods.  In essence, the seller is giving the buyer the option to purchase the subject property, based on some

31 October

Land Transactions

Why Are Escrow Periods So Long?
In most real estate transactions, escrow opens when the purchase agreement is fully executed by both buyer and seller.  With home resales, the typical escrow period lasts around 30 days, allowing the buyer

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