Course 1.0 – Week 3 Lesson 5: The Purchase and Sale Agreement
The final step in the bidding process is the purchase and sale agreement, also known as the contract. In this lesson, we will discuss some things to keep in mind at this stage of the game.
The final step in the bidding process is the purchase and sale agreement, also known as the contract. In this lesson, we will discuss some things to keep in mind at this stage of the game.
Even though your local property lawyer will be drafting the contract for you, you will need to make choices about what goes into the contract. Here we will cover a few key provisions you will want your lawyer to include.
Lesson 5 Action Steps
(1) Have a pen & your notebook ready to take notes and write down questions for the private Facebook group or monthly Q&A call
(2) Review the sample Purchase & Sale Agreement in the Resources tab.
(3) DO NOT attempt to copy the PSA and use it without a lawyer, as the requirements vary from state to state and you may leave out something important. Always use a local lawyer.