Sergi & Associates, P.C.
Free Consultation
800-407-0913

Buy-sell agreement could be vital for real estate transactions

When entering a commercial real estate transaction, whether you are buying or selling, completing the deal can have its complications. Unfortunately, some parties may not always uphold their end of the bargain, which is why having a buy-sale agreement or other real estate contract in place can have great importance.

Creating this contract may not be an easy experience. In fact, you may wish to prepare for a stretch of negotiations as you and the other parties involved attempt to come to terms with which everyone can agree. The contract can become extensive and include a considerable amount of information.

Avoidance of conflict

One of the biggest benefits of an agreement is that it could help you avoid conflicts. If a dispute does arise, you may have the ability to quickly and effectively address the issue by referencing the terms of the agreement. In the event that the other party does not follow the terms, you could take action to handle the breach of contract in a manner that protects you and your property. Thus, you may want to avoid working quickly and focus more on ensuring that the terms suit your interests.

Contingencies

In some cases, the buyer may want to include contingencies in the contract that could affect the final sale of the property. The contingencies could relate to the buyer's ability to finance the property, obtaining a satisfactory survey of the property, gaining property use approvals and other factors. Acting as the seller, you may find yourself wanting to negotiate the proposed contingencies. Additionally, you may want to ensure that the actions of the buyer will not affect the contingencies.

Negotiations

Because of the multitude of factors to consider and the potential difference in views between you and the other parties, negotiations could take a considerable amount of time. You may need to determine who has the final say on certain provisions and what provisions should remain in the contract. Furthermore, the exact terms of the agreement will depend considerably on the specific property involved and other circumstances of your case.

Complex terminology, legal aspects and numerous other facets of your agreement may have you already feeling overwhelmed before negotiations even begin. Fortunately, you could obtain legal assistance with your contract negotiations to ensure that you understand your rights and options for working toward the terms you desire.

No Comments

Leave a comment
Comment Information

Free Initial Consultation ~ No Obligation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Sergi & Associates, P.C.
329 South Guadalupe Street
San Marcos, TX 78666

San Marcos Law Office Map

Cards