Coral Gables Real Estate Contract Lawyer

Any time you purchase or sell property in Florida, you will need a binding written contract. This could be an “As Is” Residential Contract, a Contract to Sale or Purchase Real Estate, a Commercial Contract, or a Vacant Land Contract. These documents cover both commercial and residential real estate, and their terms are crucial. When disputes arise, a mistake in the drafting of the contracts can have long-lasting consequences.

To protect your investment, it is crucial that you seek guidance from a dedicated commercial real estate attorney. With the help of a Coral Gables real estate contract lawyer, you can successfully protect your interests during the real estate transaction.

Essential Aspects of a Real Estate Contract

Every real estate contract is unique, but there are certain details that every agreement should address. A real estate contract attorney in Coral Gables could ensure that all of the necessary information is included.

First and foremost, the contract should identify not only all of the parties involved in the transaction but also the property itself. This requires more than a street address, as real estate contracts should include the legal address as recorded by the county.

Another vital aspect of a contract is the purchase price. This includes the agreed-upon final sale price, payment terms, financing methods, and details regarding the down payment.

Some—but not all—contracts also include contingencies. These are necessary conditions the parties must meet before a sale can be finalized. For example, the deal might be contingent on the buyer first selling their current home before they purchase the new one.

Finally, the closing date should be specified. This is the day the new owner formally takes possession of the property. While a 90-day closing period is common, both sides can negotiate different terms when needed.

Dealing with a Breached Contract

Agreements do not always go as planned. When the other party fails to adhere to their obligations under the contract, it may be necessary to pursue legal action. A Coral Gables real estate law attorney can bring a breach of contract claim in court to seek monetary damages or request the enforcement of one of the contract terms. It is often possible to resolve these disputes before a lawsuit is necessary.

The Importance of Hiring an Attorney

Real estate transactions are inherently complex, and attempting to resolve them without the support of experienced legal counsel can lead to costly mistakes. When it comes to real estate closings, state law does not require property buyers or sellers to hire an attorney. However, attempting this process alone or with a title company can lead to mistakes that jeopardize a person’s future.

An attorney could assist with every aspect of the transaction, like ensuring that all proper inspections were carried out. If the inspection discovers any issues, a lawyer could have them resolved or potentially void the agreement. There are also complex forms that come with the purchase of a home that an attorney could ensure are completed correctly. Let a real estate contract attorney in Coral Gables assist with every aspect of this important transaction.

Talk to a Coral Gables Real Estate Contract Attorney Today

If you are planning on buying or selling a home, you could be making a mistake by handling this process on your own. Don’t go it alone—work with Coral Gables real estate contract lawyer Jacqueline A. Salcines today. We could help you make informed decisions and advocate for your best interests throughout the process.