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Considerations of Selling a Home In Greater Fort Smith
Purchase Agreements/Offer & Acceptance
Once a buyer and seller reach an agreement on price an terms, each has specific tasks that must be completed. Typically in Arkansas, there are two standard contingencies that protect both buyer and seller.
The first option is a financing contingency.
With this contingency, a buyer has 5 business days (typically) to complete a loan application and apply for financing at a lending institution.
The second contingency is the inspection. This contingency specifies that the property is inspected to the buyer's approval eith on their own or with the assistance of a professional inspector but must be completed with 10 business days of the offer & acceptance agreement being completed.
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