Sample Contract Agreement Purchase Land

Treuhandservice: Escrow is a neutral third party responsible for holding funds during the purchase transaction. Serious money deposits are usually deposited on Treuhand. Escrow offers protection to both parties as long as the contractual risks are still outstanding. For example, a buyer could deposit their serious money deposit in trust until a home inspection is complete, and be sure that if there are problems with the inspection and the buyer decides not to proceed with the contract, he or she will recover the serious money deposit from the fiduciary party. A real estate purchase agreement does not really transfer ownership of a house, building or land. Instead, it provides a framework for each party`s rights and obligations before the legal transfer of ownership can take place. .