|
1. Marks the beginning of the negotiating process
2. There is no nationally standard and accepted form
3. In North Carolina, an agent or lawyer may provide the accepted form
4. Poorly written may provide more stumbling blocks than necessary
5. Best when every detail is covered and every blank completed
6. Buyers focus on realistic prices based on comparables. Sellers focus on realistic prices based on comparables
7. Buyers should be pre-qualified if not pre-approved
8. Contain provision for inspections and repairs
9. If necessary addresses seller rent-back or buyer early-in
10. Combines action which starts the negotiating process with information
11. Becomes a contract when all parties sign, seal and are in receipt of documents
|
