We're going to talk about real estate contracts, and every single one of them starts with parties. Okay, not exactly this kind of party, but what we're talking about are the first two sections of parties and property for every real estate contract.

 

The “parties” are who are involved most practically on the residential contract, it starts with the buyers. That could be your name if you are buying with a spouse or a significant other or just a partner, it will be your name. Sometimes that is in an LLC or a company name.

 

And then finally it's the property. We need to know exactly what the address is that you're buying and the legal description you want to tell your bank, the title company and everyone who's involved, who is buying and exactly what they are buying. Hope this helps.