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Real estate can be a complicated business; there are so many details and wrinkles you have to smooth out before you can sell the property or actually move into a new home. From hiring an agent, to sell your property or to finding that perfect dream home, not to mention the process of financing and making an offer to purchase, finally getting to the contract stage. As in any legal transaction, real estate contracts are essential in the execution of real estate transactions. They are designed to protect both parties. They form the basis of legal action that can be taken if any of the parties does not fulfill the terms of the contract.
7 Conditions You Must Have in Your Real Estate Contract:
- When you make a purchase offer on a home, make sure you fully understand all of the conditions specified in your contract.
- Some important contingency clauses should include financing, closing costs, tax costs and the closing date, among others.
- Most contracts will contain contingencies, so it is important to know all of the issues that may affect your deal.
- If any contingency is not met during the specified period, you may be able to walk away from the deal along with your deposit.
From 2015, the solicitors from these Office have drawn and concluded many real estate’s contracts, with both satisfied parties, the buyers and the sellers.
In the area of construction, we understand the relationship between owners, developers, general contractors, construction managers, subcontractors and design professionals. We work to understand the project and contract documents, and we have participated in negotiations, construction claims, mechanic’s liens, arbitrations, and jury trials involving construction defects.