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Articles

LEGAL PITFALLS TO AVOID WHEN BUYING REAL ESTATE

There are instances where either the vendor or the purchaser may wish to back out of the agreement. You have to be careful because legal problems can result in litigation, and litigation is expensive, time consuming, stressful, protracted, and uncertain in outcome. You want to get legal advice before you act from a streetsmart real [...]

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UNDERSTANDING THE LISTING AGREEMENT

If you are selling a property, you need to be aware of your options when listing it with a realtor. The real estate listing agreement is usually a partially preprinted form with standard clauses and wording. The balance of the agreement, completed by the agent and the vendor, covers the specific information with respect to the property being offered for sale and the nature of the contractual bargain between the agent and vendor. Since the listing agreement is a binding legal contract, you should be very cautious about signing it, and fully understand the implications of what you are signing.

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UNDERSTANDING THE LITIGATION GAME

At some point in your life, especially if you are investing in real estate, the odds are that either you will be suing someone or someone will be suing you. Litigation normally has a mystique to many people, and the process can be very frustrating, intimidating, stressful, uncertain and expensive.

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CHOOSING THE RIGHT LAWYER

Whether you are the buyer or the seller of real estate, it is important that you obtain a lawyer to represent your interests. There are many potential legal pitfalls for the unwary when buying real estate. The agreements for purchase and sale and other related documents are complex. To most people the purchase of a home is the largest investment of their life, and the agreement for purchase and sale is the most important legal contract they will ever sign, next to a will of course!

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LEGAL PITFALLS TO AVOID WHEN BUYING REAL ESTATE

There are instances where either the vendor or the purchaser may wish to back out of the agreement. You have to be careful because legal problems can result in litigation, and litigation is expensive, time consuming, stressful, protracted, and uncertain in outcome.

Read Full Story

 

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