Drafting Tips For Real Estate Purchase And Sales Agreements

By William Hof (November 29, 2017, 5:17 PM EST) -- When negotiating a real estate purchase and sale agreement, parties generally — and understandably — concentrate their efforts on the major deal points of their transaction. Consequently, once the agreement is signed those points are rarely the source of any confusion or frustration as the transaction proceeds. However, that is not to say that the transaction will necessarily proceed smoothly. Parties are often unpleasantly surprised or disappointed by what seemed to be minor points — that is, "details" — when they negotiated the agreement. While these "details" do not cover new legal ground and no one would suggest that the parties should spend the bulk of their efforts fine-tuning these points in the purchase and sale agreement, parties would be well-served to give these points the time they deserve and, thereby, ensure that the resulting operation of the agreement delivers the result that each party anticipated....

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