Real Estate Drafting and Due Diligence
The drafting and negotiating of a purchase can include complicated terms and procedures that are critical to both the purchaser and seller to understand in order to be satisfied with the final outcome. The process can often be complex, lengthy and have many different component. In working with an attorney, you can avoid surprises or unexpected issues you may not want to deal with after the closing.
The steps to drafting and purchase of the sale of real property usually includes the following:
1) A letter of intent
2) Drafting and negotiating the purchase or sale agreement
3) Due Diligence investigation
4) Addressing pre-closing conditions
5) Title investigation and clearance
6) Closing and resolving any post-closing issues
There may be optional agreements related to the real estate purchase and sale transaction that should be considered or reviewed before the sale is completed and this can impact the terms and conditions of the sale.
Whether you are buying or selling, you no doubt have your own set of unique objectives. By working with your attorney, who will know what is of importance to you, those can be focused on and addressed as the process goes forward.
Often a real estate purchase and sale transaction is also governed by the specific laws and customs of the state where the property is located and your attorney can provide guidance, especially if you are unfamiliar with possible out-of-state issues.