§22.1 - Introduction
| Jurisdiction | Washington |
§22.1 INTRODUCTION
Buyers and sellers of real property use two distinct real estate contractsthe purchase contract or "earnest money agreement" and the financing contract or "real estate contract." Both may be referred to as real estate contracts, but each serves a different purpose. An earnest money agreement contains the terms of the sale agreement and governs the relationship between the parties for the short period between entry into the contract and "closing," at which time legal title to the...
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