REAL ESTATE LAW
SOLUTIONS START HERE.
When making the largest purchase of your life you need an attorney who knows the legal aspects of real estate.
Buying a home or commercial property is a massive milestone in your life that is cause for celebration. It can also be a headache if you do go about purchasing property without a qualified real estate attorney by your side.
Below we list the provisions featured in a standard real estate contract:
Writing: To be enforced, the contract regarding the purchase and sale of real estate typically needs to be in writing.
Identifying Parties Involved: The contract must identify the specific parties bound in the contract, aka the buyer and seller.
Identification of the Real Property: The contract needs to identify the real property. A legal description and street address should be used to unambiguously and clearly identify the property.
Identification of Personal Property: For residential contracts, this typically includes range, stove, window treatments, refrigerator, etc. For commercial contracts, the property listed includes inventory, office equipment, or manufacturing equipment.
Purchase Price: The contract needs to establish the purchase price of the property, or state a reasonably ascertainable figure.
Closing Date: The timeframe of the title transfer and exchange of money.
Signatures: To be enforced, the parties involved must sign a contract. The signee must be of sound mind and legal age. For a business entity, an authorized person needs to sign on behalf of the company.
Loutos Law is here to guide you through the legal requirements of real estate contract law and ensure the transaction is in your best interest.
About Real Estate Contracts
Our job at Loutos Law is to guide you through the legal complexities of the process and relay the legal consequences of what you are being asked to sign. Just because you are told it is a “form contract,” or the other party tells you the terms are “nothing to worry about” or an “industry standard,” it doesn’t necessarily mean that it is in your best interests to sign on the dotted line.
About Real Estate Contracts
Also referred to as a purchase and sale agreement, a real estate contract is a legally binding agreement between the buyer and seller. The point of a real estate purchase and sale agreement is to clearly delineate the terms and conditions of the sale between different parties.
How We Help
The experienced attorneys at Loutos Law offer dependable and skilled representation to buyers and sellers in real estate transactions.
We assist with real estate contract review, contract negotiation, and closings. Call Loutos Law at our Jensen Beach law office to schedule a consultation with a real estate attorney to navigate your real estate contract today.