Buying or selling a home is the most significant financial transaction that many individuals undertake in their lifetime. While this can be an exciting time, without the proper legal guidance, the process can be frustrating, overwhelming and more expensive than necessary. Even if there are no obvious disagreements between the Buyer and Seller, it is advisable for each party to enter into real estate transactions with one’s own attorney who can help steer them away from common pitfalls and facilitate a smooth transfer of property. Unfortunately, it is customary for parties to enter into a contract for the purchase or sale of residential property before real estate counsel is consulted. Once the contract has been executed, the terms are fixed. The standard contract utilized by most realtors is a lengthy document. The contract remedies on default, often limiting the recourse which the non-defaulting party has in the event of a breach by the other. It is important to make sure “all is in order” prior to the closing. With respect to residential property, all appliances, heating, plumbing and mechanical systems are in the condition specified in the contract. Otherwise, you may have no recourse with respect to defects or deficiencies discovered after the settlement. Unless otherwise provided, “the contract merges into the deed” and the contract as such ceases to exist after closing. We represent buyers, sellers and financial institutions in various residential and commercial real estate matters. Services we render includes the drafting of purchase and sale contracts; preparation of deeds effecting transfers on the land, tax and assessment records; preparation of debt instruments and recordation of mortgages and other security instruments; conducting settlements; and issuance of the final title insurance policies. In addition to real estate transactions, we assist with the following residential and commercial real estate issues: - Tax deferred exchanges
- Foreclosures
- Breach of contract
- Actions for specific performance of contract
- Leases
- Buyer-seller disputes
- Landlord-tenant disputes
If you are considering buying, selling, leasing, or investing in real estate property, consult our firm to ensure that your transaction is structured in the most optimal manner possible. |