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What is a Real Estate Purchase Contract?

A real estate purchase contract or REPC (pronounced “rep see”) is a legally binding document that outlines the terms and conditions of a property sale or transaction. It will include things like the price the buyer’s willing to pay, the timeline for buying the property, any repairs or other concessions for the seller to make, and any contingencies that must be satisfied for the sale to conclude. Some states refer to REPC as a purchase and sale agreement (the initial contract) or a purchase agreement (the final contract, signed at closing).

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Gabriel Handelman
Gabriel Handelman
May 25, 2023

It is most important contact while purchasing or selling the properties. It should be done before any sale purchase .

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