Home Seller's Guide
The Purchase and Sales Contract
When all the Buyer’s contingencies have been satisfied, the Purchase and Sale contract is generated by the Seller’s attorney, reviewed by the Buyer’s attorneys and is then signed. Often the financing contingency will become a part of the Purchase and Sale Agreement due to the lengthy time necessary for a full mortgage commitment. Upon signing the Purchase and Sale Agreement, the Buyer then provides a deposit on the property. The deposit is held in an escrow account by the listing firm or by either of the attorneys involved in the transaction.
Your listing agent will follow the timeline and coordinate all aspects of the sale including home inspections, receipt of mortgage commitment, obtaining the MA Smoke Detector Certification, and MA Title 5 Septic Certification for the septic system if applicable.