A real estate sales contract (or often called purchase agreement) is a legally binding contract that holds every party accountable for the smallest detail. Singing a contact is not for the faint of heart. There is no 'I think I like the house down the street better' decisions after signatures are dry. Here are a few items on the contract:

• Description of the property
• Selling price of the property
• Mortgage contingency -- specifics of the home loan
• Deposit
• Closing date and location
• Inclusions -- what is included with the home
• Exclusions -- what is not included with the home
• Inspection details
• Home warranty
• Septic and well information (if needed)
• Pest control
• Buyer possession
• Seller acceptance of offer
• Insurance
• Disclosures

Always read the fine print. According to real estate information firm Inman.com, many contract forms are preprinted, and details can slip through the cracks. If there are any details that should be left out it might be wise to rewrite the contract.

Also, included will be any contingencies for terminating the deal. This might include significant damage that was not disclosed or loan issues that would cause the seller to back out. Any backing out might trigger a deposit to be paid, depending on the language of the document.

And remember, buyer's remorse does not qualify for canceling the deal.

For more information visit www.inman.com or www.bankrate.com.