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What should I look for in a home purchase contract?

Making the decision to purchase a home is one of the biggest investments you will make throughout the course of your life so it is not a decision that should be taken lightly. You should meticulously read between the lines every step of the way, especially when it comes to signing the purchase contract, which is the most important document throughout any real estate process. You may feel overwhelmed when reviewing the contract but it is important that you take a step back and think about every possible aspect prior to signing the contract.

First, you should always be sure to have an official date of when the home will be in your possession. You should be able to understand what is included with the sale. For example, are appliances included or will the seller be taking those with them? It is imperative that you determine whether there are any liens against the house that you should be aware of. You should have a survey done to be sure that you are buying the property you believe you are buying and are not paying for less property than you thought. You should also determine whether you are paying for the survey or if the seller is paying for it. Will the seller pay for the cost of any damage that the home incurs in between the time that the contract is signed and the closing day? In addition, will the seller pay for any damage that was found during the home inspection?

There are so many questions that need to be asked and answered before the home purchase contract is signed. It is important that you have the guidance of an experienced real estate attorney who can assist you in covering all of your bases in this process.

If you require experienced legal representation for any of your real estate, bankruptcy or family law matters, contact the Mark Scollar Law Office today to schedule a consultation.

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