In the real estate industry, agreements are made everyday. Whether a salesperson is promising to sell a property within a specified period of time, a buyer is placing an offer on a house or a buyer is trying to purchase a property, some type of contract will be involved. Before entering into a legally binding agreement, real estate professionals should fully understand the different types of contracts that govern their industry. If a real estate professional makes a mistake while making a contract, he or she will be held liable for that mistake. Therefore, it is vital that real estate professionals protect themselves against errors, oversights and misunderstandings.
Contracts Purchase and Sales Agreement - NYS Department of State Division of Licensing Services Bureau of Educational Standards
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