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What Is A Sales Binder Agreement

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What Is A Sales Binder Agreement

The additional deposit is usually an additional 4% to 9% and is usually paid in escly once the inspections are completed and approved by the buyer. The “On or About” date for an additional deposit is a few days after the inspection period, approximately three weeks after the contract is signed. Once the inspections are completed and approved, the seller or the seller`s lawyer will prepare a more detailed purchase agreement. The additional deposit will be made at the time of the execution of this more detailed contract. Within 24 hours, they regretted their decision and called the broker to let him know that they had changed their minds. They returned the buyer`s check. However, the buyer went to court to enforce his agreement. A judge ruled that the Brandweins signed a purchase agreement and ordered them to finalize the transaction. .