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What is an offer in purchasing?

The term offer to purchase is often used, but the correct term is actually promise to purchase. It is a contractual document where the buyer makes the seller a formal offer to purchase their property. The offer includes a proposed purchase price and certain terms and conditions for the transaction to take place.

What do you have to disclose when selling a house in Arkansas?

Under current law, the SELLER is required to disclose all known conditions that affect the health or safety of a prospective purchaser. SELLER discloses to PURCHASER that SELLER knows of no defects in the subject property, other than those deficiencies disclosed in this form.

Can you sell a house as is in Arkansas?

Yes. Selling your house as is is totally legal! In Arkansas, there is no state law that requires property owners to disclose every aspect of their propertys condition when selling.

Do you have to disclose a death in a house in Arkansas?

Arkansas has no disclosure requirement for death on a property. The state considers psychological impacts on a property to be non- material for disclosure.

What items should be covered in the purchase and sale agreement?

Among the terms typically included in the agreement are the purchase price, the closing date, the amount of earnest money that the buyer must submit as a deposit, and the list of items that are and are not included in the sale.

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