Our law office handles a wide range of legal issues on Long Island, including acting as a commercial purchase and sales lawyer.
Legal Action for Commercial Real Estate Sales
Due to the nature of these transactions, an expert review is required. And our law firm can ably handle these reviews. When you turn to our law office for legal help, we can provide you with the following:
- Resolve any ambiguities in the agreement.
- Identify any unreasonable restraints that were imposed on you by way of post-completion conditions.
- Alert you to any conditions that have not been included in the agreement.
By working with our law office, we can give you confidence in the upcoming transaction by reviewing it with a professional eye. Get in touch with us today to set up a no-obligation consultation. Don’t hesitate to contact us. When you call, we can go over the parameters of your case. Over the years, we have become a trusted real estate lawyer on Long Island.
What Are Sale & Purchase Agreements?
The textbook definition of purchase and sale agreements is simply that they are a legally binding agreement that obligates a transaction between a buyer and a seller. Sale and purchase agreements work great for both the buyer and the seller.
With a sale and purchase agreement, the seller is assured that someone will buy their asset, real estate or company. And for the buyer, they are generally guaranteed the ownership of a piece of property or a company. So both sides can rest easy knowing their deal is legal. And if either party breaches this sale and purchase agreement, then the breaching party is subject to litigation and the party at loss may seek contractual remedies.
Reasons You Need a Sales & Purchase Agreement Lawyer
To Resolve Ambiguities In Agreement
When you turn to a lawyer to review a sales and purchase agreement, you are assured of any ambiguities in the language of the contract. If the agreement is poorly drafted, then it can lead to uncertainty. A lack of clarity can have a detrimental effect on your ability to enforce the agreement against the other party.
Finding these ambiguities can be challenging, but our law office can dig in and clear up and language that is not clear. On top of that, we can advise you if we believe an amendment needs to be made to the agreement. When you work with our law office, we can help to clarify your rights and obligations at each stage of the agreement.
Identify Any Missing Conditions Precedent
In most agreements, you will find certain conditions that one or both parties in the agreement must fulfill before the completion of the sale. These are know as conditions precedent, which are varied when it comes to a sale and purchase agreement. And it may often be difficult for parties to consider what steps they must complete before the sale becomes final.
When you turn to our law office, we can review this sale and purchase agreement and identify any conditions that the parties may have overlooked, but would not be necessary to the agreement. During our review process, we can pick out shortfalls in the conditions precedent to the sale and purchase agreement.
To Identify Any Unreasonable Restraints
Sale and purchase agreements will generally include certain post-completion conditions. This is to help with the completion of a sale of a piece of property or a business. The inclusion of unreasonable restraints or lack thereof can lead to unfair outcomes for one party. This might lead to circumstances where one party has less bargaining power than the other. Or the other party has failed to review the sale and purchase agreement properly.
In order to avoid any unreasonable restraints, you can work with a lawyer to understand all future implications of the agreement. And by working with our law office, you can make a more well-informed decision about whether the post-completion conditions in the agreement will benefit your business or not.