What exactly is involved in a real estate contract? Here's a breakdown
of what most contain, although the exact structure might vary based
on your location.

What:
A legal description of the property as well as the street address.

How much: The selling price.

Mortgage contingency: Subject to obtaining a mortgage
(if applicable) and the specifics of the mortgage–amount, rate
and term. Application to be made in X number of days.

Deposit: How much money accompanies the contract
and who will hold it.

Closing: When and where.

Inclusions and exclusions: What is and is not included
in the sale of the property.

Home inspection: Contingency for and to be done
in X number of days.

Warranties: Any that are included with the house
and description of the warranty.

Condominium: If the property is a condo, other
provisions will apply.

Well and Septic: If applicable, they must be tested
(and pass).

Termite and Pest inspection: Who will pay and if
there is infestation or damage, who will repair.

Possession Date: When the buyers take possession
of the house–before, at or after closing.

Acceptance: How long the sellers have to respond
to the offer with either acceptance or a counter-offer.

Arbitration: Any provisions for arbitration of
disputes.

Insurance: Whose insurance covers the property
up until the closing date.

Property Disclosures: Notices of any property disclosures
concerning the house.