Residential Real Estate Purchase & Sale Agreement
Our Boston purchase agreement lawyers have compiled the following so that you are more informed. Once an offer to purchase is accepted, the seller’s attorney will draft a purchase & sale agreement (P&S). The P&S usually incorporates the terms of the offer and expands on various items to ensure a complete understanding between the buyer and seller. In addition to outlining any sale contingencies (e.g., financing, inspection, pest, etc.), the P&S will outline any liability among the parties in case the purchase falls through.
There are “standard” P&S forms available that provide a great starting point but they rarely capture the full scope of each transaction, and some are friendlier to one side than the other. So be aware that there could be unexpected post-transaction consequences, such as loss or forced return of deposit, if you don’t have an agreement that has been customized to cover your unique transaction. Find out more by contacting our Boston purchase agreement lawyers today.
Until the deed is delivered the P&S will control the path of the transaction. To protect your interests and peace of mind, contact our Boston purchase agreement attorneys today at 781-674-2562 to speak with a real estate attorney.