Many times when a Seller is selling a piece of property, they hire a real estate agent to assist them with finding a Buyer for the property. As soon as a Buyer is located, it is prudent for a Seller to hire a real estate lawyer to represent the Seller during the remainder of the sale transaction.
Offer to Purchase:
A Buyer presents a Seller with an Offer to Purchase in which the Buyer details what the Buyer is willing to give to the Seller in exchange for the property. The Offer to Purchase also details the timeline for the transaction and many times details circumstances in which the Buyer can terminate the transaction. A Seller with an experienced attorney will be aware of all of the details of the transaction and will not be surprised if the Buyer terminates pursuant to the Offer to Purchase.
Purchase and Sale Agreement:
A wise Seller will retain a real estate attorney to represent the Seller’s interests in the negotiations surrounding the drafting of the Purchase and Sale Agreement. An expeienced real estate lawyer will modify the “Standard Form Purchase and Sale Agreement” to fully protect the Seller and to insure that the Seller’s goals are met during the sale transaction.
At Closing, the Seller’s attorney will review all documents and explain the same to the Seller prior to the Seller’s execution of the same. Further, the Seller’s lawyer will draft the Deed and insure that all the necessary paperwork is ready prior to the time for Closing.
Documents Often Needed from Seller at Closing: