This section is from the book "Practical Real Estate Methods For Broker, Operator & Owner", by Thirty Experts. Also available from Amazon: Practical Real Estate Methods for Broker, Operator, Owner.
The property sold should be accurately and precisely described. The mere mention of the street number may lead to difficulty, as there is here no representation of the dimensions or area of the property, and the purchaser might find himself compelled to accept a piece of land smaller than he had supposed. If the premises are fully described in the contract, and a material deficiency is afterwards disclosed, the purchaser is entitled to be relieved of his purchase. Generally speaking, a deficiency would be material, when of such a character that, had it been known, it would have prevented the execution of the contract. The words "more or less" give a flexibility to the description, when the contract deals with country property, but do not have any great effect in relation to city property. Where the premises are described by metes and bounds, it is sometimes advantageous and helpful to mention the street number. If there be a discrepancy between the street number and the description by metes and bounds, the latter, generally speaking, would control.
Personal property affixed to the land, which is intended to be included in the sale, should be specified, as for example, gas fixtures; if not specified in the contract, the purchaser would not, as a matter of law, be entitled to receive such fixtures.
Ordinarily speaking, the description to be inserted in the contract should be taken from the deed, which conveyed the property to the seller. If the seller has had his title insured, the description contained in the title policy, would be his safest guide. Any matters, which, if omitted, would give the purchaser ground for objecting to the title, should be specified in the contract. Thus, if there are any covenants restricting the use of the property, or, generally speaking, any agreement of any kind which affects the property, as for example, party wall agreements, reference should be made thereto. All incumbrances should be mentioned, including leases and mortgages. If there be any easements over the land, these should also be specified. From the standpoint of the purchaser, if a covenant of restriction is referred to as being set forth in a recorded paper, referred to by its liber and page, it would be advisable to have a copy of the covenant added to the contract, or else sufficient time should be afforded to the purchaser, or his attorney, to examine the recorded paper before the contract is exeputed. Notice of any writing is notice of its contents, and it is dangerous to accept a contract made subject to a recorded paper, where reliance is had merely upon oral explanation of the contents of such paper.