Finding property you like and are interested in purchasing is important, but it’s also important to get a real estate attorney involved from the beginning. The contract is the road map to the entire transaction. Your attorney can assist you with the contract, even if the parties have already signed, but it’s best to be aware of what is going on from the beginning.
Often, we’ll have a contract that has already been signed without approval and everyone is locked into that contract. It’s much better if we give input at the beginning before its actually signed so we can make sure that important points are covered, and they’re not locked into something they don’t want to be locked into.
Most contracts have language that allows for attorney approval, so even if the client is in a rush to get the contract signed, the attorney approval clause might allow your attorney to make changes or corrections if something is wrong with the contract. For example, in the approval process, there is often a section that states the contract is subject to the attorney’s approval in five days, so you have a contingency for our approval. Although that’s better than nothing, we then become the bad guy. If we see something wrong with the contract or something that has been written differently and the seller has signed it, with us now making changes, it can become an issue. This is why we would prefer to review the contract before it’s signed and submitted.
Our goal is to make sure the transaction goes smoothly. . Every deal is different, but all of them are complex. It’s important to seek an experienced Columbus, Ohio real estate lawyer before you enter any contract.
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