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Jeffrey Douglas here and want to take the next few videos and go over what I call the California residential purchase agreement and joint escrow instructions also known as an RPA CA this California sizz a California contract and each state has different contracts so if you're viewing this video from a different state please consult a realtor in your state for specific advice so what we're going to do today is just do page one of the RP a although page one is probably where most of the important decisions are made regarding escrow length how much you're going to offer on the property what the financing terms are going to be so it's it's really where the meat and potatoes of the contract is what I like to do with my clients is make sure that they have an understanding of the RP a well before they're writing an offer because the the worst time you can possibly learn about the contract is when you're excited about a property or your rush to make an offer on a property so by understanding it or watching these videos it will give you a little bit of a head start in you know understanding the basic premise of the contract alright let's get started so the first thing we need to do is put in a contract date and this is actually the date that the contracts written so in this case we're going to use March the 15th 2011 the second thing obviously we need to decide is the buyers name if there are more than two buyers there are addendums that you can attach that will put more than two buyers on on the contract however most x 2.is is the the standard amount so you populate that with your full legal names and then the property address that we're making an offer on today is 1 2 3 4 West Main Street so that's what we're going to enter there and now we're getting down to the purchase price so purchase price is determined really after you've seen enough houses to understand the real estate market your agent has pulled comparable sales that are recent three to six months is really ideal to see what properties have sold for that are similar in style and size and location to yours so always the best thing you can do is take some time to educate yourself in the market and that gives you a better feeling of value than almost anything else you could possibly do let's start off by let's offer four hundred and ninety five thousand dollars for this property now you notice one of the things with zip forms which is a electronic version of the contracts is a lot of this information is populated as you enter it the second choice you really have to make is the close of escrow date and there's two really things to think about there if you're a buyer and you have a specific need for a property at a specific time it might be wiser for you to choose a specific date for close of escrow if that's not important to you and you're not sure how long it's going to take to get the contract accepted the other choice you have basically is is days after acceptance and typically you'll see...