Buyer's Request for Accounting from Seller under Contract for Deed - Alaska 2025

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Contracts may be oral or in writing. The general rule is that any contract, whether oral or in writing, is enforceable, so long as it contains a quid pro quo and is legal. However, certain contracts must be in writing to be enforceable.
Inspection Contingency Addendum This includes the period for the buyer to conduct the inspection. Per contingency addendums, if the home does not pass inspection, the buyer and seller can renegotiate the terms of the sale. Another option contingency addendums provide is releasing the buyer from the agreement.
The buyer is also responsible for property taxes, maintenance, and other upkeep associated with the house in both financing scenarios. However, there are fundamental differences between these two types of financing that are important to understand.
Does a contract have to be in writing? No, a contract usually does not have to be in writing to be legally enforced, and you can enforce a verbal agreement if both parties intended to be bound by it.
Contracts Between Merchants If both parties are merchants, courts will enforce an oral agreement if after coming to an oral agreement, one of the parties sends a signed confirmation (e.g., a memorandum of understanding) to the other merchant within a reasonable time.
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People also ask

A purchase and sale agreement, or PSA, is a document that is written up and signed after a buyer and seller mutually agree on the price and terms of a real estate transaction. This practice typically apply to real estate transactions, but it can also be applied to other business agreements.
The California Government Code provides that, after being acknowledged (executed in front of a Notary Public, or properly witnessed as provided by applicable law), any instrument or judgment affecting the title to or possession of real property may be recorded.
The general rule is that any contract, whether oral or in writing, is enforceable, so long as it contains a quid pro quo and is legal.

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