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Real Estate Contract Review

Your Trusted Fort Myers Lawyer for Real Estate Contracts

If you are preparing real estate documents such as deeds, mortgages, lease and purchase agreements, rental leases, or any other documents that relate to real estate, contact the Lee County contract reviews lawyer at Your Advocates. We can review your contracts for a small fee and suggest any changes that may be necessary to be in compliance with the law.

Assignments of rents, owner finance agreements, promissory notes, powers of attorney, mortgage satisfactions, notices of claim of lien, construction liens, mechanics liens, contracts for construction, and many other commonly used forms can be reviewed or drafted by our Fort Myers contract reviews attorney for you. Whatever your needs may be, a meeting with one of our team can save you time and money in the long run.

Contact Us Today for a Thorough Contract Review!
Need help with your real estate contracts? Contact us at (239) 970-6844 to schedule a review and ensure your documents are in compliance. We’re here to assist!

Importance of Contract Clauses in Real Estate Transactions

Real estate contracts contain numerous important clauses that protect both buyers and sellers. Understanding these clauses ensures that you are fully aware of your rights and responsibilities throughout the transaction.

Key clauses to look for include:

  • Contingencies: These are conditions that must be met before the contract becomes binding. Common contingencies include financing, home inspections, and the sale of a current home. Without these clauses, you may be forced to move forward with a transaction that doesn't meet your needs.
  • Inspection Periods: This clause gives the buyer the right to inspect the property within a set period. If issues are found during inspection, the buyer can negotiate repairs or back out of the deal without penalty.
  • Closing Dates: A clear closing date is essential to ensure both parties know when the transaction will be completed. If the closing date is missed or not clearly defined, it can lead to delays or disputes.
  • Financing Terms: This specifies whether the buyer is obtaining a mortgage and under what terms. It’s important to ensure the terms match the buyer's expectations to avoid future complications.

These clauses are crucial in making sure the transaction goes smoothly and that both parties are protected throughout the process.

Risks of Not Reviewing Real Estate Contracts

Not thoroughly reviewing your real estate contract can expose you to several risks, including:

  • Hidden Fees: Sometimes contracts include fees that aren't immediately obvious, such as repair costs, closing costs, or penalties for late payments.
  • Incorrect Property Descriptions: A property description that doesn’t match the actual property can lead to serious issues, especially if there are discrepancies in square footage, boundary lines, or included features.
  • Unfavorable Terms: Without proper review, you might miss unfavorable clauses that could limit your options. For example, restrictive clauses about property use or lengthy notice periods for terminating the agreement could create difficulties down the line.

Having an attorney review your contract helps to identify these risks and protect your interests before it’s too late.

Real Estate Contract Disputes

Real estate contracts often lead to disputes, especially when one party fails to uphold their obligations. Some common issues include:

  • Breach of Contract: If one party fails to perform as outlined in the contract (e.g., a seller not providing agreed-upon repairs), it can lead to legal action.
  • Non-Performance: This occurs when one party doesn’t fulfill their duties, such as not securing financing or not meeting the inspection requirements.
  • Enforcement of Terms: Sometimes, terms in a contract may be challenged, requiring legal action to enforce them. For example, a buyer may need help enforcing a clause that ensures a timely closing.

In these cases, having an experienced real estate attorney can help resolve disputes, negotiate solutions, or take legal action to enforce your rights. Proper legal guidance ensures you aren’t left dealing with expensive issues later on.

Client-Centered Approach to Real Estate Law

Since the inception of our firm, we have always sought to treat our clients with respect, honor, and integrity. Our focus is to service our clients with professionalism, ethics, and the highest quality legal representation available in Fort Myers and Lee County. While we are focused on real estate law, we also practice estate planning and consumer protection law.

The common thread between all of these practices is our impeccable attention to detail and thorough legal research and form preparation. Our reputation is growing in the area as a firm which puts their clients first, and profits a distant second. Read what some of our clients have said about their experience with Powell, Jackman, Stevens & Ricciardi, P.A.

FAQ: Real Estate Contract Review

What should I do if I don’t understand a clause in my real estate contract? 

  • If you don’t fully understand any part of your real estate contract, it’s important to consult with a qualified attorney. A real estate lawyer can explain the terms, help you understand your rights, and make sure your interests are protected.

How can I avoid hidden fees in my real estate contract?

  • To avoid hidden fees, ensure that you carefully review all terms related to costs, including those for inspections, repairs, closing, and title transfers. It’s also wise to ask for clarification on any unclear fees before signing, especially those related to transfer taxes, title insurance, and any additional charges during the closing process.

What is the difference between a contingency clause and an inspection period in a real estate contract? 

  • A contingency clause outlines conditions under which the contract can be terminated, such as failing to secure financing. An inspection period gives the buyer the right to inspect the property and negotiate repairs or cancel the contract based on findings.

Can I make changes to the real estate contract before signing it? 

  • Yes, you can negotiate changes to the contract before signing. If there are terms that don't align with your needs or expectations, discuss them with your agent or attorney to amend the contract to better suit your situation.

What happens if the seller doesn’t honor the terms of the contract? 

  • If the seller fails to honor the contract, they may be in breach. This could allow you to seek legal action, including the potential for damages or the cancellation of the contract. Always consult a real estate attorney to understand your options.

How long does it take to review a real estate contract? 

  • The time it takes to review a real estate contract depends on its complexity, but it typically takes a few hours. A detailed review may take longer, especially if the contract contains many terms or conditions that require negotiation.

Should I get a lawyer involved before signing a real estate contract? 

  • Yes, it’s highly advisable to have a lawyer review the contract before you sign it. Legal professionals can identify potential issues, help you understand the terms, and ensure that your interests are protected in the transaction.

Schedule Your Free Initial Consultation Today!

Contact us today for an evaluation where we can discuss your needs in detail. The real estate documents which we can review or draft for you are too numerous to list here. Every case and situation is unique and requires special consideration, just as every client is unique and demands our full and undivided attention when we are working on their case.

Ensure Your Contract Is Solid!
Avoid hidden risks in your real estate agreements. Contact us at (239) 970-6844 for a professional contract review and protect your investment.

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