Purchase & Sales Agreements
Real Estate Purchase and Sales Agreements: Drafting & Review
Every Purchase and Sales Agreement represents a substantial change to your balance sheet. A Seller will be divesting him or herself of a property they know well and converting it into cash or a new property through a 1031 exchange. A Buyer is new to this property, and no matter how experienced they are in real estate, there is a lot to learn about this particular property and a lot to know about making a good Agreement. Many times their biggest concerns involve one of the following:
- How to know their interests are being protected
- Understand their rights and responsibilities
- Be prepared for unforeseen events and conditions
Moschetti Law Group will address these concerns and lay out the path forward at the initial orientation meeting. Whatever your circumstances are, whether you are a buyer or a seller and whether this is a residential or commercial property, we can make sure to equip you with the right plan to make the change to your balance sheet. Our Calabasas real estate lawyers have seen hundreds of purchase and sales agreements in California and throughout the United States and sizes ranging from small condominiums to towering commercial complexes.
For example, Mark is a developer of luxury apartment buildings and townhomes. Next door to one of his prime properties is a small building on a large lot that would be a perfect expansion. Mark had discussed this with the owner, and they were open to selling. Still, the deal was complicated with financing issues, environmental concerns, and a needing to negotiate with a tenant.
We strategized and executed a plan to meet Mark’s needs along with an amicable transaction that satisfied him, the tenant, and the owner.
As you’ve seen, there are many pieces to the Purchase and Sales Agreement puzzle, and we help you navigate the contract, including the determination of which parts are critical for your success and which are less critical. As your legal partners through the agreement process, we will strategize with you on the following areas and more:
- Basic provisions
- Timing of escrows
- The property, its identification, and its description
- Choice of title and escrow companies
- What is included and what is excluded in a sale
- Purchase price and financing options
- Deposits and when deposits become non-refundable
- The closing processes
- Contingencies to closing and their timing
- Prorations and adjustments
- Representations and warranties
- Dispute resolution and damages
We educate you on what the entire transaction should look like given the Agreement – from opening escrow to exchanging the keys. Knowing what to expect makes your experience smoother and less stressful and gives you the confidence that you’re making a good financial move for your business or individual goals.
Here is how an experienced real estate attorney will help your side of the deal:
- We put time on your side. When appropriately managed, deadlines are negotiated and met, but we will act as a buffer so time pressure isn’t making a rash decision that could cost you. Deals don’t die due to small amounts of time. The deals that do die, typically, were not realistic anyway.
- Ensure that your side and your interests are the ones that are being represented. That’s the difference between just crossing your fingers versus confidence that lets you sleep well at night.
- Understand your obligations without exposing yourself to unnecessary liabilities.
- Avoid future lawsuits over misunderstandings, errors, or omissions.
- Have a second and objective pair of eyes to look over your deal and mitigate the effects of time pressures or outside stressors.
- Foster confidence in your investment, lease agreement, and transaction.
The Moschetti Law Group specializes in strategy and counsel for California real estate transactions. We have experience in all types of sales, including FSBO, short sales, and foreclosures, in residential and commercial real estate. We have prepared all manner of California real estate documents.
The Moschetti Law Group can prepare these California-specific real estate documents and more:
- Residential purchase agreements
- Commercial purchase agreements
- Disclosure statements
- Contract amendments
- Contract addendums
- Environmental assessments
- Releases of liability
- Landlord/Tenant forms
- Deeds of trust
- Real estate partnerships
- And more