Massachusetts Standard Residential Purchase and Sale Agreement Form
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People also ask
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What is the most common buyer representation agreement?
The exclusive right-to-represent contract is the most common buyer representation agreement and best protects the agent.
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What is a standard representation agreement?
With a standard representation agreement, you can give someone the authority to help you make certain decisions. It's usually made by people who need support to make decisions now, and into the future. This type of agreement is sometimes called a section 7 representation agreement, based on this underlying law.
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What is the standard term of a buyer representation agreement?
The agreement can extend anywhere from a few months to upward of a year. But just like with any of the conditions of the buyer agency agreement, the term length is generally negotiable. So, be sure to talk with your agent about the time frame you'll be requiring their expertise.
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What is a standard P&S in Massachusetts?
The P&S is the binding, legal contract that controls a residential real estate purchases in Massachusetts. There are two main P&S forms used in Massachusetts. The Massachusetts Association of Realtors (“MAR”) Standard Purchase and Sale Agreement (With Contingencies)
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What is included in the residential purchase agreement?
The residential purchase agreement contains the comprehensive terms of the deal, including sales price, deposit, closing date, disclosure requirements, inspections, and fees agreed upon by both parties.
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What must a buyer representation agreement contain?
Buyer Representation Agreements agreements formalize the relationship between agents and buyers, outlining the terms of the agreement, including the scope of services provided by the agent, the obligations of both parties, and the compensation structure.
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How long do buyer agreements last?
How long does a buyer-broker agreement last? Buyer-broker agreements typically have a specified duration, ranging from 30 days to several months.
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Who prepares the P&S in Massachusetts?
After you have an accepted offer A purchase & sale agreement (P&S) is a legal document prepared and agreed to by attorneys representing both the buyer and seller in the home purchase transaction.
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