I know it was just Halloween, and we are talking about possession in the contract, but not that kind of possession. Anyway, we're covering paragraph 23, which talks about when you actually get your new home. There are three options in Arkansas.

Number one is upon closing means …

We are talking about the most important date on this contract. That is closing day. Closing day is the day that we are all shooting for.

It's the day that everything is finalized. You sign all the paperwork, and the home officially becomes yours as a buyer or the …

We are talking about the real estate contract and paragraph 21. This covers insurance. I know no one likes to pay for insurance or think about it, but we don't know when emergencies happen. This paragraph states that when you buy a house, you have ten business days to …

We're talking about paint. More specifically, lead based paint on the real estate contract. Paragraph 20 discusses the lead-based risk assessment. Basically, what this state is that if your home is built before 1978, the buyer must beware that lead based paint was still in circulation at that time …

We're continuing in our real estate contract all the way to paragraph 19, Termite Control Requirements. This basically says that your lender, if you're buying a home, is going to require the seller to provide a one year contract and a termite clearance letter for the home …

It's important to tell the truth on your property disclosure.

So today in our real estate contract, we are talking about paragraph 18 covering the seller property disclosure. This is essentially a form that the seller fills out to tell you as the buyer everything they know about …

VA, Rural Development, Termite, the Lender. All of these are third parties according to a real estate contract. We're continuing in our series covering the different paragraphs in this contract and we've hit third party requirements. 

All five of those people could have extra third party …

We're continuing in our series about the Real Estate Contract. And we've made it all the way to paragraph 16. This paragraph is all about inspection and repair pairs. 

It states that you have 10 full business days once you have agreed with the seller to have …

Do repairs on your new home freak you out a little bit? Well, paragraph 15 in our real estate contract - as we continue to talk through what's in this offer - might help you out. It covers home warranty plans. 

Home warranty plans are marketed as a way …

We're continuing our series explaining what's on this contract. Paragraph 14 covers a section called Other Contingencies. But really, most of the stuff in this contract is a contingency. The main thing that we're concerned with here is, do you have a house to sell before you …