Make Sure To Get Legal Assistance With Your Purchase And Sale Contract
When you are buying a house, there are a lot of things that you need to do. You need to get the property surveyed, the house inspected, and sign a purchase and sale contract. That contract is one of the very last things that needs to be done before you can actually move in to your new house.
Purchase and Sale Contract
Your purchase and sale contract is a legally binding document between you and the seller. Basically, it means that you have agreed that you are going to give the seller your money and they have agreed to give you the property in exchange for that money. When you get into the details, there is more to it. That contract lays out things like the closing date, who is paying realtor fees, any special considerations, and escrow information. Your purchase and sale contract may also contain information that is unique to your particular property, such as right or ways or perpetual use clauses.
Real Estate Lawyers
While realtors can write up the purchase and sale contracts, it's better to a real estate lawyer write it. This is for the simple reason that it is a legally binding document. In order to make sure that the contract is fair to both parties, each party should have their own lawyer to negotiate the contract and then check it out after it is written. If you depend on the seller's attorney to do the paperwork, you are going to end up with a contract that is much more advantageous for the seller than it is for you.
Another good reason to have a real estate lawyer at least check out the contract for you is that you should never sign any binding document without reading it over carefully and having a lawyer check it out. Contracts are often written in legalese, and it can be hard for you to understand, meaning you may not be 100% sure of what you are signing.
Buying your new house can be both exciting and nerve wracking. There are so many things that you have to think about and take care of before you can move in. Getting your purchase and sale contract means that you are getting very close to the end of the process. In order to make sure that process goes smoothly, you should have a real estate lawyer, like the ones at Valentine & Valentine PC, who will check everything out for you.
