Understanding Real Estate Purchase Agreements
The drafting and execution of a real estate purchase agreement is an essential step in the real estate process. The agreement outlines the parties, price and relevant terms in a given transaction. Each element of the sale should be carefully considered and fully disclosed in the purchase agreement. The goal of any real estate purchase agreement, whether it be a standard buy/sell agreement, land installment contract or lease with an option to purchase, is to protect both the Buyer and Seller and to ensure both parties’ expectations are clearly understood from the beginning.
A fully executed real estate purchase agreement is a legally binding contract that obligates both parties to perform certain acts in accordance with the terms of the agreement. Once executed, these agreements may be enforceable in court and subject a defaulting party to liability.
Our Real Estate Attorneys
If you are looking to purchase or sell real estate, the experienced attorneys at Dungan & LeFevre can help. We have decades of experience in these matters, and we represent clients throughout Miami County and statewide. Our real estate attorneys are Michael Rieman, William McGraw, Sarah Worley, Steven Justice and Michael Scarpelli. They can assist in the drafting and reviewing of real estate purchase agreements.
To discuss your goals and concerns with an experienced real estate attorney, please call 937-552-5947 or contact us by email. With offices in Troy, we represent clients throughout the Miami Valley and Ohio.