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Addressing legal needs in a residential real estate deal

| Feb 4, 2020 | Residential Real Estate |

Just because residential real estate transactions are common doesn’t mean that they are simple. In fact, purchasing residential real estate is likely to be one of the biggest financial commitments that any Florida resident will make. It is important to get the details right.

Like many transactions of such significance, a residential real estate deal will hinge on the details of a contract. In this type of situation, the contract is between the seller and buyer. Before the two sides start to put the terms of the deal in writing, they have typically agreed on at least one crucial aspect of the deal: the purchase price. But, even though that term might seem like the most important part of the deal, there are many other details that might be included in a purchase agreement, including: the buyer’s ability to secure financing; a search that confirms that the title to the property is good and transferable; and the timing for closing the deal, among many other details.

This type of contract is, of course, a legal document. As a result, it is important to make sure that the contract is reviewed with an eye toward any potential legal problems that might arise. When a contract has unclear or vague language, that can lead to trouble down the road. When it comes to residential real estate transactions, everything needs to be right the first time.

But, even the best written contracts sometimes can’t prevent a legal dispute between a seller and buyer. When such a dispute arises, Florida residents will want to be sure that they have the right information about their legal options.

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