Raleigh Area Home Sellers

When buying or selling real estate in the Raleigh and Cary area, these are seven terms to watch for in a purchase contract:

1. The Closing Date -- See if the date the buyer wants to take title is reasonable for you.

2. Date of Possession -- See if the date the buyer wants to move in is reasonable for you.

3. The Earnest Money -- Look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.

4. Fixtures and Personal Property -- Check the list of items that the buyer expects to remain with the property and be sure it's acceptable.

5. Repairs -- Determine what the requested repairs will cost and whether you're willing to do the work or would rather lower the price by that amount.

6. Contingencies -- See what other factors the buyer wants met before the contract is final -- inspections, selling a home, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they won't drag on and keep your sale from becoming final.

7. The Contract Expiration Date -- See how long you have to make a decision on the offer.