First Steps
First Steps on Buying a House
Purchasing or selling a home is probably one of the largest financial transactions most people will make in their lives. While real estate transactions often go smoothly, there is no way to know what situations may present themselves when you begin the transaction. Having an attorney to protect your interests is a relatively small investment when you consider the problems which might be encountered and which can be avoided with competent legal advice. For the most satisfactory results, consult with an attorney who concentrates his practice in real estate transactions.
The purchase/sales contract is the document by which the purchasers commit themselves to purchase the home and the sellers commit to sell. It should contain all of the terms of the sale. Although some people use “form” contracts, almost every contract has its own individual provisions, which effect the rights and obligations of the purchasers and the sellers. Both should take great care to read and understand every provision in the contract. If there are any questions, the parties should seek professional advice.
Then, before signing any documents or depositing any money preparatory to entering into a real estate contract, purchasers should consult with an attorney or a Real Estate Agent of his choice to ensure that his rights are properly protected.
