Real Estate – Selling or Buying?

Business LawToday’s free legal seminar topic was Selling or Buying Real Estate.  Topics on the agenda were Purchase Agreements, Disclosures, Mortgages, Contracts for Deed and Title. Whether you are buying or selling, residential or commercial property, you need to get your “ducks in a row” before proceeding on such a major financial transaction.  For most individuals, buying a home is the largest purchase in a lifetime, worth investing in legal advice to steer clear of all the potential obstacles and legal hazards.  The best time to get legal advice is before you sign the Purchase Agreement.  Once signed, there is often not much an attorney can do to fix mistakes.  Oftentimes the major work done on a real estate transaction is either drafting or reviewing and revising a proposed Purchase Agreement.  That establishes the terms of the deal and unless some other issues arise, it may not be necessary to have an attorney at the Closing.  All Closing documents can be reviewed ahead of time by the attorney, who can be available by phone during the closing should questions come up.  The bottom line – know what you’re doing when selling or buying real estate.

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