Long Island Residential Real Estate Attorney
As a Long Island real estate lawyer, our office can help homeowners with the sale of their home. This is simply one aspect in the realm of real estate that we help those on Long Island with. The real estate purchase contract is crucial to the home buying and selling process and needs to be handled in a professional manner. From both a financial and legal angle, it is recommended that a real estate lawyer review the purchase contract. The signing of a contract is a commitment to a price, various deadlines, and important contingencies. A close review of these details ensures that everything is in order when it comes to the buying and selling of a home.
For more information about our ability to review and handle the contract of a home, please reach out to us today.
What is a Purchase Contract?
The basic definition of a purchase contract is that it is an agreement made between the buyer and seller. A purchase contract agreement includes the price, location, and closing date of the home purchase. There also may be other contingencies in the contract that can protect both the buyer and seller from potential hard or complications before the closing date. Once there is an agreement on the price, then the real estate agent can begin to draft up a purchase contract. This is where our law office comes into play. We can review the purchase contract and make sure everything is in order. And consult with you on the process. There are a lot of moving parts, so it is important that the buying and selling of a home has all the details in order. And that is the main goal of our office as a Long Island real estate lawyer.
What a Purchase & Sales Contract Lawyer Reviews
There are a lot of moving parts in a purchase contract. So when it comes to the review process, there are details that a real estate lawyer needs to review. Here are some of those details:
- Property details.
- Details of buyer and seller.
- Agreement of sale price.
- How the home will be financed.
- Deadline for closing date.
- The timing for when the buyer takes over the home.
- If there were any issues that were found during the home inspection.
- If any parts of the purchase will remain in the home after the sale.
- The disclosing of property details, such as if a home contains hazardous materials.
The law office of Elsie Acevedo is proud to work with many home buyers and sellers on Long Island. Get a lawyer you can trust to review the elements of a purchase contract. This is a major decision that should not be taken lightly.
Common Real Estate Questions to Ask Before Signing of Home
As your trusted real estate lawyer, we can go over every aspect of buying and selling a home with you. Our review process is thorough and will ensure there are no issues down the road when it comes to the finalization of buying or selling a home. Here are some common questions you can ask a real estate lawyer when it comes to buying or selling a home.
- How much time do I have to schedule a home inspection?
- What are the typical closing costs that buyers or sellers pay? And does a purchase contract reflect those costs?
- What happens if I do not sell my current home in time in order to purchase a new home?
- Is there a situation where I lose the money I deposit? If so, how do I prevent it from happening?
- Is the offer to purchase the home within market average?
- Can I find a new lender if issues arise during the home buying process?
- Is there a way to get out of a home purchase contract?
- Does the mortgage application get pulled if I lose my job or get a pay cut?
- Do I suffer any penalties if the deal falls through?
Again, these are just common questions. If you have any legal questions regarding the purchase or sale of a home on Long Island, do not hesitate to reach out to our law office located in Center Moriches. Turn to the real estate lawyer with the experience you can trust! And check out all of the real estate matters our law office ably handles.