Purchase and Sale Agreements
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Purchase and Sale Agreements
Purchase and Sale Agreements
The transactions team at Canterbury Law Group is well versed in complex residential and commercial real estate issues throughout the United States, with an emphasis in Arizona, California and Nevada. Our team will provide vigilant review and proficient advice on the various facets of a real estate training including negotiating and preparing your real estate purchase and agreement.
In-depth due diligence is necessary to negotiate a successful real estate deal. Counting on real estate agents and brokers to prioritize your best interest may result in a precarious outcome and, if care and precautions are not met, costly litigation may emerge, which can significantly delay or terminate the transaction. Skip the inconvenience and risk and consult with Canterbury Law Group immediately.
Our experts are dealmakers; we provide our clients with the most advantageous options in the sale and purchase for real estate including:
- Oversee and conduct pre-acquisition due diligence.
- Establish and negotiate the best sales price and terms.
- Draft your letter of intent.
- Prepare and negotiate your offer.
- Author the purchase and sale agreement.
- Finalize all documentation, including title insurance and exhibits needed at the closing table.
Standard Concepts of a Real Estate Agreement
- Letter of Intent – A non-binding agreement between both parties prior to the signing of the formal purchase contract that sets forth the buyers’ plan to purchase the underlying real estate.
- Sales Price –The goal of most sellers is to obtain the highest price possible and most purchasers want to buy at the lowest price. Performing research, underwriting and analysis of the local market will greatly help when negotiating the sale price.
- The Offer – Often complicated, this is the first step in negotiating the real estate contract. This must be in writing and should specify all terms and conditions of purchase.
- Due Diligence – This is the critical step that entails an investigation including environmental, technical, supply/demand analysis, examination of title, physical property inspections, and other legal and engineering tasks that must be completed prior to closing on the asset.
- The Contract – After the offer is accepted, the parties negotiate the final purchase and sale agreement. The real estate contract becomes legally binding when one party accepts the offer and both parties agree to the terms set forth in the contract.
- Escrow – Third party escrow opens when the purchase and sale agreement is signed. The escrow process is insurance to all parties of a real estate transaction that no funds will change hands until all instructions given to the escrow officer, with regard to the real estate transaction, have been met. Once all conditions are met, the funds are released to the seller at the same time the deed is recorded and escrow is considered closed. Earnest money deposits are also usually handled through escrow.
- Closing – Closing occurs when all funds are exchanged and when the deed to the property transfers to the buyer upon satisfaction of all conditions contained in the purchase and sale agreement or contract.
- Deed – The deed recordation process transfers title from the former owner to the new owner(s).
Contact Our Real Estate Lawyers In Phoenix & Scottsdale
At Canterbury Law Group, each real estate lawyer seeks to deliver maximum results at the most efficient price. Our attention, experience and sophistication allows for innovative and successful real estate transactions.