DC Law Group: Should a Seattle Real Estate Lawyer Review Your ...

When you are buying or selling property, there must be a written agreement in place that outlines the terms of the transaction. This agreement is generally referred to as a purchase/sale agreement. In some cases, this agreement is just a generic standard-form contract provided by your real estate agent. However, you should not sign a purchase/sale agreement unless you have had a Seattle real estate lawyer review it.

Why a Seattle Real Estate Lawyer Should Review Your Purchase/Sale Agreement

A Seattle real estate lawyer should always be called upon to review your purchase/sale agreement because this agreement is a legally binding contract. Once you enter into the agreement, you are required to abide by the terms set forth within it. If you fail to abide by these terms, you may lose your deposit/good faith money, or you may be subject to legal action brought on the part of the other party. In some cases, when a seller has entered into a purchase/sale agreement and then changes his/her mind about going through it, buyers have even petitioned the court to try to force the sale to continue as planned (this is called specific performance in legal terms).

Because you are bound by a purchase/sale agreement, a Seattle real estate lawyer should review the agreement carefully to determine if it is fair to you and if there are clauses in the agreement that are sufficiently protective of your interests. For example, in most cases, a purchase/sale agreement is going to contain contingency clauses for both buyer and seller. A Seattle real estate lawyer might, for example, include a contingency allowing a seller to back out of a deal if the purchase of his new home doesn't go through. A Seattle real estate lawyer must also advise including an inspection contingency so the buyer can back out if the home turns out to have major defects.

In many cases, a Seattle real estate lawyer can simply review your contract, make sure you understand your legal rights and make minor modifications to the contract so it better protects you. In other instances, however, a Seattle real estate lawyer will renegotiate the contract or negotiate terms that are better suited to your needs.? In any case, the purchase and sale of a home is a major commitment and you want to have proper legal advice before you jump in.

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