When you’re selling a house, the paperwork can be one of the most confusing parts, especially if you’re in a hurry or dealing with a tough situation. But the truth is, real estate contracts are one of the most important parts of the process. They spell out what’s being agreed to by both the buyer and the seller and help make sure everyone’s on the same page.

At Golex Properties, we help homeowners in Florida and Georgia sell their homes fast and without the stress. That starts with understanding what’s in your contract, because the better you understand it, the smoother your sale will go.

What Is a Real Estate Contract?

If you’re selling your home, one of the most important documents you’ll deal with is the real estate contract. It might not be the most exciting part of the process, but it’s definitely one of the most important. A real estate contract is a legal agreement between the buyer and the seller that spells out all the terms of the sale. Once both parties sign it, the deal is considered official, and the steps toward closing can begin.

But what exactly does a real estate contract cover? And why does it matter so much?

Let’s break it down in simple terms.

The Basics of a Real Estate Contract

A real estate contract includes all the important details about the property sale, including the price, who’s responsible for what, and when everything will happen. Think of it as a playbook that outlines every part of the sale so there are no surprises along the way.

Here’s what you’ll usually find in a standard real estate contract:

1. Property Information

This section includes the address and legal description of the property. The legal description goes beyond just the street address, it often includes information from the county records that clearly identifies the property being sold.

Why this matters: You want to make sure there’s no confusion about what’s being bought and sold. This is especially important for properties with multiple lots or shared land.

2. Purchase Price and Payment Terms

This part covers how much the buyer is paying for the property and how they’ll be paying, whether it’s a cash offer or they’re getting a mortgage loan. It should also mention any financing terms, such as how long the buyer has to get loan approval.

What if the buyer is using a loan? The contract should include a financing contingency that gives the buyer time to secure the loan. If they can’t, they may be able to walk away without losing their deposit.

3. Earnest Money Deposit

The earnest money is a deposit the buyer makes to show they’re serious about purchasing the home. It’s typically held by a third party (like a title company or attorney) until closing. If the buyer backs out for a reason not covered by a contingency, they might lose this deposit.

Why this matters: A decent deposit shows the buyer is committed and gives you some protection if they back out without a good reason.

4. Contingencies

These are conditions that must be met before the sale can go through. Some common ones include:

• Inspection contingency: Allows the buyer to have the home inspected and request repairs or back out if major problems are found.
• Financing contingency: Gives the buyer time to get a mortgage loan approved.
• Appraisal contingency: Ensures the home appraises for at least the sale price.

What sellers should know: Too many contingencies can slow things down or create extra stress. If you’re looking for a quick, hassle-free sale, working with a cash buyer like Golex Properties can help you skip most of these.

5. Closing Date

This is the day when the sale becomes official and ownership of the property changes hands. All the paperwork gets signed, the money is transferred, and the keys are handed over.

How long does it take to close? If financing is involved, it usually takes 30–45 days. But if it’s a cash sale, like what Golex offers, you could close in as little as 14 days.

6. Possession or Move-Out Terms

This section covers when the buyer will take possession of the home. In many cases, this happens on the closing date, but sometimes the seller stays in the home for a short time afterward.

Can I stay in the home after closing? That depends on what’s agreed to in the contract. If so, the contract should include a post-closing occupancy agreement that spells out the terms.

7. Disclosures

Sellers are usually required to share any known issues with the home, things like past water damage, foundation repairs, or old wiring. Some states have strict disclosure laws, while others are more flexible.

Why this matters: Being honest about the condition of your home upfront can protect you from legal issues later on. If you’re selling the home “as is,” make sure that language is clearly stated in the contract.

Why This Document Matters So Much

Even though real estate contracts might feel like a lot of reading, they are the foundation of your home sale. Every important part of the deal is written down so that both sides understand exactly what’s being agreed to.

Key Parts of Real Estate Sale Contracts That Matter to Sellers

If you’re getting ready to sell your home, understanding what’s in the contract is just as important as finding the right buyer. Real estate sale contracts can be full of legal terms, but there are a few key sections that sellers should always pay close attention to. These parts can impact how fast your home sells, how much money you walk away with, and how much hassle you might deal with during the process.

Here’s what to look for in your real estate sale contract, and why each section matters.

1. Contingencies Can Slow Things Down

What are contingencies? Contingencies are conditions the buyer wants to meet before the sale becomes final. These are added to the contract to protect the buyer in case something doesn’t go as planned.

Some common examples of contingencies include:

• Home inspection: The buyer may want to hire a professional to check for issues like plumbing problems, roof leaks, or foundation cracks.
• Financing approval: If the buyer is getting a loan, this clause gives them time to get final approval from their lender.
• Appraisal: The buyer’s lender might require an appraisal to confirm the home is worth the price they’re paying.

Why does this matter to you as the seller? If a buyer backs out because of a failed inspection or financing issue, the deal can fall through, even weeks after you thought it was going to close. That means more delays and possibly starting over with a new buyer.

What if you want to sell quickly? Contingencies can slow down the process. That’s why many sellers prefer working with cash buyers, like Golex Properties. We buy homes without all the typical delays, so you can skip the red tape and move on faster.

2. Look at the Earnest Money Deposit

What is earnest money? Earnest money is a deposit the buyer gives upfront to show they’re serious about buying your home. It’s usually held by a neutral third party, like a title company or real estate attorney, until the closing.

Why is this important? A strong earnest money deposit is a good sign that the buyer is committed to the deal. It gives you peace of mind that they’re not just making an offer and hoping for the best.

Here’s what to check in the contract:

• How much is the deposit? A larger deposit often shows a stronger commitment.
• When is it due? This should be clearly stated so everyone stays on schedule.
• What happens if the buyer cancels? The contract should explain whether the deposit is refundable and under what conditions.

Tip: If the deposit is low or the terms seem too loose, it might be worth asking for stronger terms, or choosing a buyer with a better offer.

3. Check the Timeline

How soon will the sale close? Every real estate sale contract includes a timeline for closing. This is the target date when the buyer will pay, the seller will hand over the keys, and the ownership officially changes hands.

But not all timelines are created equal.

Some buyers may need 30–45 days to get through inspections, financing, and paperwork. Others, like Golex Properties, can close in as little as 14 days because we use cash and don’t rely on banks or outside lenders.

What should sellers look for?

• Closing date: Is it a few weeks out or a couple of months?
• Flexibility: Is there wiggle room if something gets delayed?
• Your own needs: Will you have enough time to move or find a new place?

Quick tip: If you need to sell fast, whether for financial reasons, relocation, or to avoid the stress of showings, make sure the timeline in the contract fits your goals.

4. Watch Out for Repair Requests

What if the buyer wants you to fix something?
It’s not unusual for buyers to request repairs after an inspection. Some may ask for specific fixes, like repairing a leaky faucet or replacing old roofing. Others might want you to give them a credit or reduce the sale price instead of handling the repairs yourself.

But here’s the thing: You’re not required to agree to everything.

If you’re selling your home “as is,” that means you’re not making any repairs or updates before closing. This should be clearly written into the contract so there’s no confusion. “As is” doesn’t mean you’re hiding problems, it just means the buyer is accepting the home in its current condition.

What to check in the contract:

• Is there an inspection contingency that allows the buyer to walk away?
• Are there repair requirements or seller credits listed?
• Does the contract say “as is,” or does it leave things open for negotiation?

Why this matters: If you don’t want to spend time or money fixing things, be sure the contract supports that. At Golex, we specialize in buying homes as-is, no repairs required, so you can skip the hammer and just sell.

Selling a home is a big decision, and the contract is where all the important details come together. Understanding these key parts of real estate sale contracts, like contingencies, deposits, timelines, and repairs, helps you stay in control and avoid last-minute surprises.

What Happens After You Sign the Contract?

Once both you and the buyer sign the real estate contract, things officially start moving forward. But what actually happens next? If this is your first time selling, or even if it’s not, it helps to know what to expect after the ink dries.

Here’s a look at what typically happens after signing the contract:

1. The Home Is Taken Off the Market

As soon as the contract is signed, your home is usually marked as “under contract” or “pending” on real estate sites. This tells other buyers that your home is no longer available and that you’re working toward closing the deal.

Can I still show the house or accept backup offers? In some cases, yes, especially if the contract allows for it. But most sellers stop showing the home at this point unless the deal falls through.

2. Inspections and Appraisals Are Scheduled

If the buyer included a home inspection contingency, this is when they’ll schedule a professional to inspect the property. They might be checking for things like roof damage, plumbing issues, or electrical concerns. If the buyer is using financing, their lender may also order an appraisal to make sure the home is worth what they’re paying.

What if you’re selling “as is”? Even then, the buyer may still want an inspection, but it’s for their own peace of mind, not to negotiate repairs (unless that’s allowed in your contract).

If you’re selling to a cash buyer like Golex Properties? There’s usually no appraisal and often no inspection, which means you can skip a lot of the usual delays and move straight to closing.

3. The Title Company Prepares for Closing

Behind the scenes, the title company or closing attorney gets to work. They:

• Perform a title search to make sure there are no legal issues tied to the property (like unpaid taxes or liens)
• Order a survey if needed
• Prepare all the paperwork for closing day
• Make sure the funds are ready to be transferred

How long does this part take? It can take anywhere from a few days to several weeks, depending on how complex the situation is. Cash sales are usually much faster, especially if the buyer (like Golex) already has their process ready to go.

Selling “As Is”? Make Sure It’s in the Contract

If you don’t want to deal with repairs, painting, or cleaning up the property before selling, you’re probably planning to sell “as is.” This means the buyer is agreeing to purchase the home in its current condition, no touch-ups required.

But here’s the key: The contract has to say that clearly.

Look for language like:

• “The property is being sold in its present condition”
• “Seller makes no repairs or warranties”
• “Buyer accepts the property as is”

Why is this important? If this language isn’t in the contract, the buyer might assume you’ll make repairs or updates before closing. That can lead to last-minute issues or even a canceled deal. At Golex, we buy homes as is all the time, no fixing, no painting, no problem.

Selling a Home with Tenants in Place

Have renters living in the property you’re trying to sell? No worries, you can still sell it. But your real estate contract needs to include a few important details to keep things smooth.

Here’s what should be included:

• Will the tenants stay or leave? If they’re staying after the sale, the buyer needs to know.
• Who collects rent before closing? This clears up who’s responsible during the transition.
• What happens to the security deposit? In most cases, it gets transferred to the buyer.

Will this scare off buyers? Some buyers might hesitate when tenants are involved, but at Golex Properties, we specialize in buying homes with tenants in place. We’re experienced with rental properties and handle the process professionally, so you don’t have to.

Why It’s So Important to Understand Real Estate Contracts

Let’s be honest, real estate contracts aren’t exactly thrilling to read. They’re full of legal terms and fine print that most people would rather skip. But here’s the thing: Not reading or understanding the contract can cause big problems later.

You might miss an important deadline, agree to something you didn’t mean to, or leave money on the table.

The good news? You don’t need to be a lawyer to understand your contract. If anything seems confusing or unclear, ask your real estate agent, attorney, or trusted buyer (like Golex) to walk you through it. A few questions now can save a lot of stress later.

Quick Tips for Reviewing Real Estate Contracts

Here are some quick, helpful reminders for sellers reviewing real estate contracts:

• Read the entire contract,  even the small print
• Double-check the price and deposit amount to make sure they match your agreement
• Look at the closing date to be sure it works for your timeline
• Be clear about repairs,  don’t agree to any you’re not comfortable making
• If you’re selling “as is,” confirm the contract says so
• Add tenant details if the home has renters
• Ask questions! If something doesn’t make sense, speak up

The time after you sign a real estate contract is exciting, but it’s also when a lot of important things happen behind the scenes. Whether you’re selling “as is,” working with tenants, or just want to close fast, understanding what happens next, and what your contract really says, can make all the difference.

Final Thoughts: Make Sure the Contract Works for You

Whether you’re in a hurry to move on or just want a smooth sale, it’s important to understand your real estate contract before signing it. It protects you, sets clear expectations, and helps the deal move forward without problems.

If you’re feeling unsure or just want to avoid the hassle, Golex Properties can help. We make the selling process easy, fast, and fair, with no hidden fees, no repairs, and no waiting around. At Golex Properties, we walk you through the entire agreement after we send it to you, so you’ll understand exactly what you’re signing before moving forward.

Click here to learn more about how Golex can buy your home fast, even with tenants or repairs needed.