Media Real Estate Attorney Discusses Issues in the Real Estate Agreement of Sales
As an experienced Media Real Estate Attorney I am often asked about the real estate agreement of sales. On the seller’s side a real estate agreement should, of course, make sure that the seller gets paid, but also that the seller, when the closing is taking place walks away from a closing table with as few and perhaps no obligations continuing on to the buyer. For the seller, we are interested in number one making sure that the buyer is going to get to the closing so we usually expect a deposit of some kind to prove they have significant enough financial wherewithal to make the deal and second of all that we’ve limited perhaps the time they can tie up the property. When we’re talking about buyers we talk about the ability to inspect the property, get financing, and so forth. As the seller, you want to make sure, even though the buyer has those options that they’re not extended for an unreasonable time period. From a seller’s point of view, you want to make sure you get paid, you want to make sure that the deal happens in a reasonable fashion and on a timely basis, and you want to walk away from the deal without any continuing obligations to the buyer.
Do you have questions about the real estate agreement of sales? If so, contact the experienced Media Real Estate Attorney Edward Perkins.