To be enforceable a real estate contract must include 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 counteroffer.

The term "it depends" is always relevant to any real estate contract. Parties to the contract have the option to agreeing to most any change to the original document.

The word enforceable always leaves open the option for either party to the contract ultimately seeking legal recourse.

Fair question, that can only be answered by saying it depends on each buyers individual circumstances.

Rates are reasonably low. Will they go any lower? Maybe and then again rates may not go any lower.

What has a better chance of happening is for home prices to continue to trend down throughout the remainder of 2008 well into 2009. It is my sense that home values will not begin to level off until the spring of 2010.

So, what should a buyer do? Buyers need to establish their needs, wants and desires and then buy the home of their dreams if they find that home at the right price. If not be patient and keep looking until the right home at the right price comes along, maybe even at a smaller price.

Buyers should look at their individual needs when choosing a lender. Bigger lending institutions are not necessarily better than smaller lenders. It depends on the buyers circumstances.

Some lenders specialize in buyers with credit woes. Other lenders have special options for those with small down payments.

Some lenders have different style loan programs that will work for singles or seniors.

If you have special needs make sure you talk with the lender that will offer the most options to meet your circumstances.

If a buyer chooses to finance the closing costs on a home purchase the monthly loan payments will be higher. Paying closing costs out of pocket from cash on hand is the better decision.

Lenders will help a borrower do a cost analysis that will provide the difference between financing closing costs and paying at the time of closing.

In deciding which is the best process a buyer needs to understand that financing closing costs will effectively create a higher APR (annual percentage rate.)