Contract Preparation
The Contract of Sale or Purchase and Sale Agreement is a legally binding document whereby the buyer agrees to purchase for a certain price, and the seller agrees to convey the title. The contract also serves as directions to the escrow company to close the transaction. When your Coldwell Banker Hunter Realty agent prepares your contract, he or she should be clear about the following details:

Who is paying the various expenses of the sale, including closing costs?
Sellers usually pay for a portion of the closing costs, including a portion of the escrow fee and title insurance, a portion of the past year's taxes and assessment, and the real estate commission.

What is the actual closing date?
The closing date is the date in which the proceeds of sale are available to the seller and the deed has been recorded in the county recorder records. The date of closing can affect your closing costs (make sure to ask your lender for a good faith estimate).

What is the date of occupancy?
This date is agreed to between the buyer and seller during the negotiations. If the seller remains in occupancy after closing, then there should be a rent back agreement in place prior to closing

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