Why Use an Attorney for Real Estate Purchase and Sale Agreements?
A real estate purchase and sale agreement covers many aspects of the transaction. If any aspect of the agreement is unclear and the other party breaches the agreement, you can have a difficult time protecting your rights. Bellingham real estate attorneys can make sure your contract covers all important factors.
For example, suppose a purchase and sale agreement does not specify who plans to cover closing costs. Or perhaps it does not adequately explain what closing costs mean in terms of the contract. Closing costs may mean escrow costs and other related fees, or it may refer to loan closing or processing fees. Closing costs can also refer to both escrow and loan fees. The point is this ― the purchase and sale agreement should contain no ambiguity because an unclear contract is open to dispute, which results in further expenses for both parties. Before entering into any agreement for real estate purchase, your attorney can help you ensure clear title to the property through title insurance. Conducting a thorough title search and dealing with any title defects before closing the purchase avoids unnecessary risk for you and your lender.
A Bellingham real estate contract attorney looks out for your best interests in a real estate transaction and can negotiate on your behalf if the purchase or sale terms are unfavorable for you. Because a residential or commercial real estate transaction represents a significant investment, you want to be sure you protect your interests.