a. California Residential Purchase Agreement and Joint Escrow Instructions
b. Purchase Contract
d. Liquidated Damages
e. CE+3
f. Final Verification of Condition
g. Contingency Rights
h. Title Insurance Company
i. Initial Deposit
j. All Cash Offer
k. Supercede
1. ___ the sum of money agreed to in advance and stated in the contract,
that will be paid for not fulfilling a clause or condition in the purchase
agreement.
2. ___ most commonly used CAR form for the purchase of real estate
in California; also called the deposit receipt or purchase contract.
3. ___ formerly referred to as the deposit receipt, this term is now
more commonly used for the purchase agreement.
4. ___ means to take precedence, as in the “written or typed words
supercede the printed words if there is a contradiction in the purchase
offer.”
5. ___ under the closing and occupancy section of the purchase contract,
this means the buyer will take possession 3 days after the close of escrow.
6. ___ section authorizing a “final walk-through” for the buyer within
a specified number of days before close of escrow to verify condition of
property.
7. ___ customarily conducts title searches, prepares preliminary reports,
and issues title insurance policies in California.
8. ___ the deposit given to the agent submitting the offer, which must
be disposed of within three days after acceptance of the offer, unless
otherwise instructed in writing.
9. ___ if certain obligations are not met, the buyer need not perform
and is not liable for breach of contract, therefore getting his or her
deposit back, less any expenses incurred.
10. ___ a buyer must give written verification of these funds necessary
to close within 7 days after acceptance (or the number of days inserted
in the contract). If not provided to or approved by the seller, the seller
may cancel the agreement.