A. Offer-Buyer
This sentence states that the document is an offer, which means that the contract can be accepted or declined and creates a binding contract. This lets the seller know the identity of the buyers and is important for offers that are owner financed.
All buyers should be listed.
Do not identify buyers as they would be taking title. For example, Husband and Wife, an unmarried woman, etc... As a Realtor, you should never tell anyone how to vest title or give tax advice, unless you are licensed to do so.
Description: Clearly identify the property by address or legal description.
B. Real Property to be Acquired:
This is the description of the property for purchase. There is also a space for the assessor's parcel number.
C. Purchase Price: This is the purchase price the buyer offers to pay the seller.
It does not include closing costs, insurance, or funding fees that the buyer may also be required to pay.
D. Close of Escrow:
Choose either a specific date for the close of escrow (COE) or a certain number of days after the offer is accepted for the close of escrow. Some buyers or sellers may have to close by a certain date for tax reasons (such as a tax deferred exchange or transfer of property tax base, employment transfers, etc...). If either party requires a specific COE, be sure to include it in the contract.
For more information on the RPA-CA, you can visit our San Diego Real Estate Site
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Temecula CA Homes for Sale
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