Which components are typically included in a "sales contract"?

A sales contract is a legally binding agreement between a buyer and seller in a real estate transaction. It outlines the essential terms and conditions of the sale. The correct answer includes crucial components typically found in a sales contract, specifically the purchase price, property description, contingencies, and closing date.

The purchase price is the agreed amount that the buyer will pay for the property, while the property description provides detailed information about the real estate being sold, ensuring clarity about what is being transferred. Contingencies are conditions that must be fulfilled for the sale to proceed, such as passing an inspection or securing financing. Lastly, the closing date specifies when the transaction will be finalized, indicating when the buyer takes ownership.

While other options contain important information that might be relevant to a real estate transaction, they do not encapsulate the fundamental elements typically included in a sales contract. For instance, details like market analysis, financing options, agent commissions, property history, homeowners association rules, and appraisals can be relevant but are not standard components of a sales contract itself. Instead, they may support the decision-making process or be part of separate agreements.