real estate contract

A real estate contract is a legally binding agreement between a buyer and a seller for the purchase or sale of property. It outlines key details such as the property's description, sale price, payment terms, contingencies (like inspections or financing), and closing dates. The contract provides protections for both parties, ensuring obligations are clear and enforceable. Once signed, both parties are committed to the terms, and the contract guides the transaction until completion. It's essential for ensuring a smooth transfer of ownership and minimizing misunderstandings during the process.