Buying a home is an emotional experience! The last thing most Buyers think of during the transaction is the contract. However, once signed, your transaction is likely governed by the information contained in the four corners of that signed purchase and sale agreement. Best to understand what you signed.
Real Estate Contract Review
Getting a contract review by a real estate attorney helps you understand what you signed and potentially safeguards your transaction from common problems involving legal due diligence, ambiguous language, and unreasonable timeframes, to mention just a few.
Real estate purchase and sale agreements typically memorialize the specifics of a transaction including property details, purchase price, financing terms, contract contingencies, and closing procedures. Once your offer is accepted, the purchase and sale agreement is the controlling document for the events that follow. Read your agreement closely. Make a calendar of the events called out in the contract noting triggers to performance(s) due and contingencies. Pay special attention to timeframes for inspections, financing, and appraisals.
A close read of your contract can raise more questions than it answers! The purchase or sale of real estate is complicated. With so much on the line, it makes sense to get those nagging questions answered.
Timely Contract Solutions
Buyers: Use TC Review to understand your legal position and identify what choices you have under the signed contract. Get answers to your questions. Identify solutions. Be prepared to consider legal options if adverse or unforeseen circumstances arise.
Sellers: Use TC Review to understand your legal position and identify what choices you have under the signed contract. FSBO’s may need protection from off-the-shelf contracts that don’t fit the circumstances of their sale. Be prepared to consider legal options if adverse or unforeseen circumstances arise.
Use TC Review to anticipate and avoid larger problems down the line … and to sleep better at night!
This posting is not legal advice. Legal advice is based on specific facts. This information is necessarily general in nature.