What should be included in your real estate sales agreement?

On Behalf of | Apr 10, 2020 | Real Estate Transactions |

If you’re looking to sell your Florida home, then you may be tempted to list it yourself instead of having to pay a real estate agent commission fees to do it for you. Even if you decide to go at it alone, you shouldn’t use just any sales agreement that you find online to enter into a contract with your buyer. This could result in your real estate deal falling through.

There are a few requirements that you must meet for your residential real estate contract to be considered valid. The agreement has to be written. It must also show that there was some type of offer and acceptance. You and the other party must have exchanged something of value, such as a home for money, for the contract to be considered as valid as well.

Your sales contract should also list the home’s purchase price, the offer expiration, projected closing dates and any information about whether the buyer owed or paid any earnest money. You should also detail who’s going to cover the cost of title insurance, inspections or surveys as well as information about who’s paying the property taxes or utility costs.

If your buyer wants to be allowed to perform a final walk-through inspection before the closing or you want to have your attorney review the contract before you agree to any offer, then you should clearly state this in the contingencies section of the purchase agreement. You must document any conditions that you, as the seller, or your buyer must fulfill for the purchase process to move forward in your agreement.

Real estate attorneys are specially trained in reviewing contracts. Any experienced Hollywood lawyer that you hire to read over your sales or purchase agreement will be focused on making sure that your interests are protected by the Florida contract. They’ll also look to make sure that all the important details that should be there are present.

These are just some of the many benefits of having an attorney on your side during any real estate transaction. It can save you a lot of headache and expense in the long run if you do have them there.