Many offers include financing and home inspection contingencies. Ask your salesassociate to explain the language, so that you can make an educated contractdecision. The purchase contract must include the seller's responsibilities,with such things as passing clear title, maintaining the property in itspresent condition until closing and making any agreed-upon repairs to theproperty.

Contingencies

The two most common contingenciesare financing, which makes the purchase conditional on the buyers' ability toobtain a loan and an inspection, which allows the buyers to have professionalsinspect the property prior to final offer acceptance.

How flexible should a seller be in granting contingencies?
It depends on the specific offer and many other conditions including thecondition of your property, the price you want to get, and how eager you are tosell. Once contingencies are negotiated, they become part of the deal and arewritten into your contract. Both the buyer and seller can place requirements onthe table during the negotiation phase of a real estate transaction. Whetherthe buyer will find the seller's requirements reasonable, or even achievabledepends on the individuals involved. Financial capabilities usually play amajor role in negotiations.

Furnishings

Deciding what stays and what goes is usually up for negotiation. Dian Hymer, author "Buying andSelling a Home, A Complete Guide," says sellers wanting to take fixeditems out of a house should specify so in the Buy/Sell agreement."Appliances that are not built in (washer, dryer, refrigerator, portabledishwasher, portable microwave, freestanding stove) are all negotiable,"Hymer says.

Sellers who are undecidedat the time of listing about which appliances will stay with the house caneither leave this section blank or state that the appliances are negotiable.Built-in appliances, window coverings, tacked down carpets, and fixturespermanently attached to the property are assumed to be included.

Deposit

This is a deposit paid bythe buyer as evidence of the good faith intention to complete the transaction.The amount of deposit is subject to negotiation and may serve as a source ofpayment of damages to the seller if the buyer defaults without legal recourse.Until a real estate transaction is closed, the deposit money is retained in atrust account. Deposit money is credited to the buyer's purchase price atclosing.