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The importance of carefully reviewing a contract

On Behalf of | Jun 23, 2022 | Real Estate Law

A real estate contract outlines the rights and responsibilities of the buyer and seller. In California, issues with such a document may result in problems that might delay the closing of a real estate transaction or derail it completely. Therefore, it is a good idea to have someone who has experience with these types of matters review a contract before it goes into effect.

Even minor errors could void a contract

A contract may not be valid if it doesn’t have your legal name on it. In addition to potentially voiding a home sale, you might need to alter the title and other documents that have the wrong name on it. The same may be true if portions of the contract are not filled out as it could lead to allegations that the document was tampered with. It’s also important to make sure that the proper address is listed on all documents related to the transaction.

You don’t want to lose a home because of unreasonable expectations

Ideally, a residential real estate transaction will proceed in a timely manner. However, you can’t always control when each step in the closing process will be completed. An experienced representative will ensure that you have sufficient time to find a mortgage, have the home inspected and take other actions after your purchase offer is accepted.

If a real estate contract isn’t structured properly, it may cause you to lose out on your preferred property. Furthermore, agreeing to a contract prior to having it reviewed may result in a deal that is skewed in favor of the seller. This may increase the risk that you can’t comply with its terms, which may also cause the deal to fall through.