I've heard of way too many real estate agents tell buyer: "I'll send you the offer via docusign and let me know if you have any questions" without even going over the offer or also known as the Purchase Contract. That was me when I was buying my first property as an Active Duty Marine Officer back in 2017.
Purchase Contract is a binding legal agreement between the buyer and the seller. It is also a guide for you, as a buyer, on what you are responsible for, how you are protected, and your liabilities are. To an untrained person, this document can be daunting and confusing. So my goal is to provide you with a detailed explanation of he Purchase Contract so you can shop for your home with confidence!
My name is Daniel Lee Kim, Award Winning real estate agent on Oahu, Hawaii. As a prior military, I have made it my mission to help veterans and military families find their home on Oahu with ease and peace of mind. You can follow me on instagram @alohaagentdaniel
Daniel Lee Kim
RS-84819
e-mail: [email protected]
Phone: 808-292-3427
Topics of the Video:
Intro 00:00:00,066
Content 00:00:51,366
Purchase Contract 00:01:08,066
Section A: Agency Disclosure 00:01:46,200
Section B: Initial Earnest Money Deposit 00:03:05,033
Section C: Offer to buy, purchase price, and financial consideration 00:04:22,566
Section D: Addenda 00:06:21,700
Section E: Property Description 00:07:39,966
Section F: Inclusions 00:10:15,033
Section G: Title Report 00:13:08,566
Section H: Cash Funds and Financing Contingency 00:14:33,100
Section I: Seller Disclosure 00:16:04,633
Section J: Inspection, maintenance, and Warranties 00:18:13,033
Section K: Staking and Survey 00:21:54,000
Section L: Termite 00:23:19,833
Section M: Additional Documents 00:24:40,666
Section N: Rental Documents 00:28:25,766
Section O: Termination, mediation, arbitration 00:29:21,300
Section P: Foreign or non-resident buyer and/or seller 00:32:10,100
Section Q: Special Terms 00:33:17,200
Section R: Brokerage firm services and disclaimer 00:34:56,166
Section S: General Provisions 00:36:25,866
Section T: Outcome of the Purchase Contract or Counter 00:38:34,633
Closing: 00:39:06,800
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