Everything you need to know before signing a contract
Did the word "contract" stop you dead in your tracks? I hope not, after all it's required for almost everything we do these days. Cell phones, heck even Netflix has a contract with you so why would this one be any different? Well, I can tell you the true reason this one brings out the quote on quote boogie man from his closeted residence deep within your mind is because it's associated with money and LOTS of it!
FIRST, LET ME BE CLEAR! PLEASE ACTUALLY READ IT!!!!
I find that understanding all of the "escape" strategies help my clients feel better about signing that contract you know you're probably not going to read~ although I recommend you do! Buyers have plenty of ways to escape, most of the time, but sellers DO NOT! Let me say this again for those of you who were multitasking, sellers cannot terminate a sales contract in the State of Oregon. They can make buyers transactions extremely uncomfortable and possibly unreasonable, but if they cannot move forward with someone else if they have an accepted contract.
So, it's important to sit down with your trusted real estate advisor, hopefully me, and ask all the questions you have prior to writing or accepting a contract. There are specific timeframes all parties are agreeing to in writing and possible consequences to not adhering to these timelines depending on market activity and parties involved. Understanding your responsibilities and the possible reprecussions should the terms of the contract not executed herein usually negates the fear associated with signing on the bottom line or clicking through DocuSign furiously more likely.
Contracts aren't so scary after all, just make sure your names are spelled correctly. This will be the first test.