Roanoke valley association realtors purchase agreement 2025

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The document is a Purchase Agreement from the Roanoke Valley Association of REALTORS® for the sale of residential property in Virginia. It outlines the legal obligations and rights of both the Seller and Purchaser, including details on real property description, agency relationships, disclosures (such as lead-based paint and property condition), financing terms, inspection contingencies, and settlement procedures. The agreement emphasizes the importance of understanding its terms and encourages parties to seek legal advice if needed.

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Versions	Form popularity	Fillable & printable
2016	4.8 Satisfied (102 Votes)
2014	4 Satisfied (39 Votes)
2012	4.2 Satisfied (39 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can a seller back out of a real estate purchase agreement?

Plus, a purchase order becomes a legally binding contract after the seller accepts the order. Once accepted, the buyer is legally obligated to submit payment for the product, and the seller is legally obligated to deliver or produce the product.

Can you back out of buying a house after signing a purchase agreement?

In most cases the answer is no, as long as the contract has been signed. When a buyer puts in an offer on the house and the seller accepts it, both parties sign a home purchase agreement. This legally binding contract sets out the sale price, closing date and other terms of the sale.

How binding is a purchase agreement?

Yes, you can back out at any time - but there might be a provision in your contract stating that the seller can keep all or part of the deposit for ``damages. Read your contract thoroughly and consult an attorney ASAP.

Is a real estate purchase agreement binding?

A real estate purchase agreement is a legally binding agreement that governs the purchase and sale of a property. Made between a buyer and seller, it defines the terms of the transaction and the conditions under which a sale will occur.

Is the buyer or seller responsible for the purchase agreement?

Heres the quick answer: Buyers Real Estate Agent: Usually responsible for preparing the purchase agreement using standardized forms. Sellers Real Estate Agent: Reviews and negotiates the terms but does not usually prepare the initial agreement.

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