<P> Sometimes real estate contracts will provide for a lawyer review period of several days after the signing by the parties to check the provisions of the contract and counterpropose any that are unsuitable . </P> <P> If there are any real estate brokers / agents brokering the sale, the buyer's agent will often fill in the blanks on a standard contract form for the buyer (s) and seller (s) to sign . The broker commonly gets such contract forms from a real estate association he / she belongs to . When both buyer and seller have agreed to the contract by signing it, the broker provides copies of the signed contract to the buyer and seller . </P> <P> As may be the case with other contracts, real estate contracts may be formed by one party making an offer and another party accepting the offer . To be enforceable, the offers and acceptances must be in writing (Statute of Frauds, Common Law) and signed by the parties agreeing to the contract . Often, the party making the offer prepares a written real estate contract, signs it, and transmits it to the other party who would accept the offer by signing the contract . As with all other types of legal offers, the other party may accept the offer, reject it (in which case the offer is terminated), make a counteroffer (in which case the original offer is terminated), or not respond to the offer (in which case the offer terminates by the expiration date in it). Before the offer (or counteroffer) is accepted, the offering (or countering) party can withdraw it . A counteroffer may be countered with yet another offer, and a counteroffering process may go on indefinitely between the parties . </P> <P> To be enforceable, a real estate contract must possess original signatures by the parties and any alterations to the contract must be initialed by all the parties involved . If the original offer is marked up and initialed by the party receiving it, then signed, this is not an offer and acceptance but a counter-offer . </P>

The sale of real estate is covered by the common law of contracts