Michigan Purchase Agreement Real Estate Lawyer
Real Estate transactions are much more complicated than many people realize. There are many things that are required by the State of Michigan that most buyers or sellers are not aware of. There are documents to be prepared, disclosures to be made and terms to be negotiated. If you do not know the law, you can make mistakes which will come back to haunt you. That’s where our lawyers come in. When drafting a purchase agreement, or a land contract for buying or selling a home, or making any changes to a deed, you should always have a real estate lawyer present. We also help landlords and tenants resolve any real estate issue that arises over the course of a lease.
We have been helping clients with real estate transactions for years and will be mroe than happy to assist you with your transaction.
- Why do I need an Attorney for a Real Estate Transaction?
- When should I get a Real Estate Lawyer?
- I have a buyer for the property, do I still need a Real Estate Lawyer?
- I am buying a house, do I need a Real Estate Attorney?
Buying or selling a house is a significant legal transaction involving a lot of money. There are many decisions to be made, documents to be prepared and laws to be complied with. You need a lawyer who is well versed in real estate laws to represent your interests. A real estate agent doesn’t care whether you are making a good deal; he just wants you to buy or sell a house so he can get his commission. That’s how he gets paid. Your attorney will make sure you should buy or sell that house and that you are not being taken advantage of.
If you are selling your house on your own, it is a good idea to have a real estate lawyer from the very beginning. He can advise you on setting the price for your home, how to qualify your prospective buyers, what disclosures you have to make, and what documents have to be prepared and signed.
Once you have a buyer, your lawyer prepares the Purchase Agreement and all of the other documents you need, works with the title company on the closing documents and attends the closing with you to make sure everything goes according to plan.
The cost for this is considerably less than the commission usually paid to a real estate company and you have the peace of mind of knowing that your lawyer is taking care of all the details and making sure you have complied with the real estate statutes.
If you are buying a house, you should see an attorney before you sign anything, including the Purchase Agreement. A Purchase Agreement is a contract. Once you sign the Purchase Agreement, you are stuck with its terms unless you can convince the seller to agree to change them.
If you change your mind about purchasing the house, at the very least, you can lose your deposit, and you could be forced to go through with the purchase if the seller decides to sue you to enforce the contract. An attorney will look the Purchase Agreement over to make sure that it is fair to you, and can recommend any changes he thinks would be in your best interests before you sign it.
I thought a purchase agreement is merely a standard form that everybody just signs and no one really looks at.
There are many provisions in a Purchase Agreement that can favor either the Buyer, or the Seller. You want those provisions to favor you. You also want to add provisions to cover things that are important to you.
- Were you counting on the appliances staying with the house?
It had better be in the purchase agreement.
- Were you planning on taking your grandmother’s chandelier with you?
That needs to be in there as well. Otherwise, you sold it when you sold the house.
- There are a lot of blanks to fill in when drafting a purchase agreement.
Our Real Estate Lawyer fills in those blanks with terms that benefit you.
What if I didn’t get a real estate lawyer at the beginning?
Better late than never. Bring in your paperwork and we’ll find out where you stand and whether you have or need any room to maneuver. We’ll see you through the rest of the real estate transaction and help you anywhere we can.
To obtain or learn more about the Firm's Real Estate Services, contact us.