Contracts
In Massachusetts, an Offer to Purchase Real Estate is typically:
AA fully binding contract with no contingencies allowed
BA non-binding letter of intent only
CA binding contract subject to negotiation of the P&S✓ Correct
DOnly valid if witnessed by two people
Explanation
In Massachusetts, an accepted Offer to Purchase is a binding contract, but it is typically subject to execution of the more detailed Purchase and Sale Agreement. It usually includes a deposit and key terms like price, closing date, and contingencies.
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