What Every Purchase Agreement in Real Estate Must Include

Buying and selling real estate can be a confusing processes for many people who have not had experience with purchase agreements, land rights, underwriting documentation, or any other real estate transaction requirements. With the help of a Coachella Valley real estate attorney, the process can be simplified, and most property transactions will smoothly commence without delay.

To help their clients as well as the general public more fully understand the criteria for drafting a new, or agreeing to an existing purchase agreement, real estate and land law attorneys in Coachella Valley have created a few simple requirements that must be present in each purchasing contract or agreement in order for the document to be both legally binding, understandable, and applicable to both parties.

What Every Real Estate Contract Needs

  1. Every viable contract should include the basis of an agreement, which is usually an action or inaction.
  2. In a purchase contract, the action is twofold since one party agrees to sell a specific property or parcel of land while the other party agrees to purchase the same.
  3. Contracts must also include additional details that are not usually subject to change unless otherwise stipulated within the agreement or a subsequent addendum.

 

In the case of a purchase agreement for property, the address, property rights, and price would not be subject to change after the agreement. The buyer and seller or their representatives must both sign the agreement before it is considered enforceable.

Contact Our Real Estate and Land Law Attorneys in Coachella Valley for Review of Your Contract

Real estate and land law attorneys in Coachella Valley assist their clients by reviewing purchase agreements and other contracts before they are signed.