Rogaris Law Office is a law firm that concentrates a majority of its practice to the practice of real estate law. If you are taking the advantage of today's great real estate market and purchasing or selling a home, you are going to need to hire a real estate attorney. Please take a moment to review our website and then contact us for further information.
The Real Estate Transaction
Once a homeowner decides to sell his or her home, they generally list their home with a real estate broker.Once they property is listed a potential buyer will make a formal offer that is secured by a deposit.If the property owner accepts the offer, a formal acceptance is signed that creates a binding contract to sell. The buyer and seller then begin to negotiate a purchase and sale agreement, (or P&S). A P&S is a legally binding contract that commits both the buyer and seller to the transaction and explains what both parties rights and obligations are regarding the sale of the property.
Why Hire a Real Estate Attorney?
Once the P&S is signed, both parties are legally bound by the terms of that document. While you might think that the P&S may be easy to understand, it may contain provisions that are unenforceable or create more liability than you expected. Having an attorney review the P&S is a good idea since it could prevent costing you years and thousands of dollars trying to litigate your rights. We at Rogaris Law Offices promise to look out for your best interest.
Why Can't my Real Estate Broker Review my P&S?
Your Real Estate Broker specializes in helping you buy or sell your home, they are not qualified nor are they permitted to offer you legal advice. However, the main reason you should not rely on your Real Estate Broker to review your P&S is that your Real Estate Broker is an interested party in the sale of a piece of real estate. This means that your Real Estate Broker only gets paid if there is a sale, so it is in their interest to ensure a sale, even if the terms of the sale are not in your best interest. Hiring an attorney guarantees that you get an expert, unbiased explanation and opinion of the contract. Moreover, your real estate attorney will work to negotiate fair and reasonable terms on the P&S and will represent you at the closing.