California's real estate market, particularly in the San Francisco Bay Area, presents challenges like high prices and competition. Buying a home necessitates a clear purchase agreement, typically from either the California Association of Realtors (CAR) or the Peninsula Regional Data Service (PRDS). The CAR agreement is widely used, while the PRDS serves specific regions including Silicon Valley. Understanding the distinctions between these two agreements is crucial for both buyers and sellers, as their language can greatly affect the real estate experience.
The California Association of Realtors (CAR) Residential Purchase Agreement is the most commonly used purchase agreement for residential real estate across California.
The Peninsula Regional Data Service (PRDS) purchase agreement is an alternative form agreement available primarily along the San Francisco Peninsula and in Silicon Valley.
Both CAR and PRDS agreements aim to protect buyers and sellers, yet the specific language can significantly impact the experience of buying or selling.
Consumers may not be aware of the choice between the CAR and PRDS, and even many real estate professionals do not understand the differences.
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