What are the responsibilities of seller and buyer?

The responsibilities of the seller and buyer can vary depending on the specific transaction and the terms of the agreement between them. However, some common responsibilities of each party include:

Seller:
1. Providing accurate and complete information about the product or service being sold.
2. Delivering the product or service in a timely manner and in the condition agreed upon.
3. Ensuring that the product or service meets any quality standards or specifications agreed upon.
4. Handling any returns or exchanges in accordance with the agreed-upon terms.
5. Providing any necessary documentation or paperwork related to the sale.

Buyer:
1. Paying the agreed-upon price for the product or service in a timely manner.
2. Inspecting the product or service upon delivery to ensure it meets expectations.
3. Notifying the seller of any issues or concerns with the product or service in a timely manner.
4. Following any return or exchange policies outlined by the seller.
5. Providing any necessary information or documentation required for the transaction.

It is important for both parties to communicate openly and clearly throughout the transaction to ensure a successful and mutually beneficial outcome.

Responsibilities of the Seller

- Disclosure: Disclose any material defects or potential problems with the property to the buyer.
- Provide a clear title: Ensure that the title to the property is clear and free of liens or encumbrances.
- Negotiate in good faith: Participate in fair and transparent negotiations with the buyer.
- Provide access to the property: Allow the buyer to inspect the property and perform any necessary due diligence.
- Prepare the closing documents: Compile and sign all necessary closing documents, including the deed, closing statement, and loan documents.
- Transfer ownership: Sign the deed and transfer the ownership of the property to the buyer.
- Provide keys and possession: Provide the buyer with the keys and possession of the property on the closing date.

Responsibilities of the Buyer

- Review disclosures: Carefully review any disclosures provided by the seller and seek clarification if needed.
- Get a home inspection: Hire a qualified home inspector to assess the condition of the property and identify any potential issues.
- Obtain financing: Secure a mortgage or other financing if necessary to purchase the property.
- Negotiate in good faith: Participate in fair and transparent negotiations with the seller.
- Review and sign closing documents: Carefully review and sign all closing documents, including the deed, closing statement, and loan documents.
- Provide earnest money deposit: Submit earnest money as a deposit to show good faith and secure the purchase agreement.
- Attend the closing: Be present at the closing to sign the final paperwork and receive the keys to the property.