Buying a home is likely the single largest transaction of your life, which makes the real estate sales agreement and contract some of the most important documents you’ll ever sign. Unfortunately, many real estate agents use standard forms, which may not accurately reflect the terms you’ve negotiated, or make common mistakes that could impact your life for years to come. To protect your interests, carefully review each page and consult with a real estate attorney before signing.

Why Reviewing Real Estate Contracts Is Crucial

Ensuring It Reflects the Terms You Agreed To

A real estate contract becomes legally binding the moment you sign it, even if it doesn’t match the terms you agreed to. Reviewing the contract gives you peace of mind, ensuring that the sales price, deadline, earnest money, closing costs, and other details are correct.

Checking the Contingencies

Contingencies allow buyers and sellers to set conditions on the sale by listing situations in which either side can back out without paying a penalty.

For instance, buyers often want to make the transaction contingent on securing a loan or selling their own house. If you’ve asked for contingencies, your real estate attorney will verify that those terms made it into the contract.

Protecting Your Interests

It’s not unusual for a buyer’s or seller’s real estate agent to introduce terms that help their client but go against your interests. For instance, buyers may give themselves general more opportunities to back out of the sale, or sellers may avoid offering a warranty. Because real estate sales agreements and contracts are so complex, identifying these potential issues often requires the expertise of an experienced lawyer.

If you’re buying or selling a home anywhere in Essex County, MA, the real estate attorneys at Bernardini Law P.C. have the background and experience to make the process as smooth as possible. This respected local law firm focuses exclusively on real estate transactions, giving them the in-depth knowledge to protect your interests every step of the way. Visit their website for an overview of their services or call (978) 794-5525 to make an appointment.