Essential contract terms, such as price, describe the basic business deal. But "everything else" in the contract defines the parties' relationship and can prevent misunderstandings and later disputes.
Read MoreMost real estate purchase contracts include a due diligence inspection period. Although there are certain inspections which every buyer should conduct, others will depend upon the age, location, and use of the property and the buyer's plans.
Read MoreThe pre-contract period, when the parties negotiate contract terms and may share information is the important first stage in a real estate transaction.
Read MoreReal estate transactions can be broken into seven standard parts. Despite this, each transaction is as different as the parcel of real estate being purchased.
Read MoreLis pendens puts prospective real estate buyers on notice that the lawsuit is pending. If they take title to the real estate, they do so at their own risk, and the results can be brutal.
Read MoreAn advanced musician will read the music by scale and arpeggio patterns that the musician has been practicing for years. People reviewing real estate contracts may act like advanced musicians. They may become so accustomed to certain contract clauses that they may breeze through them, thinking they are "standard boilerplate.” In this article, we will discuss “boilerplate” clauses that describe how a contract is signed and delivered.
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