Drafting Agreements for Sale
Real estate purchase agreements form the bedrock of the rights, obligations and the fundamental details about any land transaction. Drafting agreements for sale requires heightened attention to the specifics of your property. Errors in your purchase and sale agreement can cause it to fail and allow a lucrative deal to slip away. As Sarnia’s leading real estate lawyers, we understand that drafting agreements for sale requires determined due diligence so that you can benefit from a seamless transaction.
What You Should Know About Real Estate Purchase Agreements
When crafting an agreement to sell a parcel, it’s essential to understand that the original document is truly a “draft.” People buying and selling tracts of land usually engage in negotiations. Whether that entails price, parcel size, or peripheral issues, the initial agreement must evolve to reflect changes between the two parties. These are common problem areas an experienced real estate attorney can prove vital.
Some buyers make offers that bring the sale to fruition only if collateral issues are resolved. These might entail a zoning change, updated survey, or environmental regulations, among many others. Failing to meet the condition could halt the process. However, your agreement could include a clause that moves the sale to move forward with the defect.
Things such as streams changing course and others can cause your survey and agreement to differ from the actual property. Although this may be an innocent mistake, such issues may be considered a misrepresentation of the details. There are numerous ways that incorrect information can find its way into your draft. A misrepresentation can become legally problematic.
Attorney Review and Modification
Purchase and sales agreements often include a clause that allows the buyer to have an attorney review the agreement and request changes even after the deal has been completed. This can be problematic for sellers who put forward flawed documents. It’s not uncommon for the buyer’s attorney to find reasons to reduce the price based on errors. Our experienced real estate law professionals craft agreements that pass muster and maximize your profit.
Contact Sarnia’s Trusted Real Estate Team
If you are considering selling a parcel of land, it’s imperative to have an accurate agreement in place that allows for a smooth transaction. At George, Murray, Shipley, Bell, LLP, we have earned a long-standing reputation for exacting due diligence and precise agreements. Contact our Sarnia office and schedule a consultation today.
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