Why Do I Need a Buckeye Real Estate Lawyer?
There are countless reasons why an individual or business would need a Buckeye Real Estate Lawyer to assist in the purchase or sale of a home, land, or business. Most people understand that having a real estate agent is important, but they fail to recognize the value of obtaining the advice and counsel of a Buckeye Real Estate Lawyer. The main reasons are contract review, due diligence, and rights and remedies enforcement.
Contract Review is Vitally Important
Don’t sign until a Buckeye Real Estate Lawyer has reviewed your Arizona Real Estate contract. Contract review prior to entering into an Arizona Real Estate Contract is vital for the simple reason that once you are in, it is almost impossible to get you out. Because of this, you need to make sure you understand the contract and agree to its terms. Without knowledge and skill concerning Arizona Real Estate Law, understanding the terms of Arizona Residential and Commercial Real Estate Contracts can be nearly impossible. Each Arizona Real Estate Contract involves rights and responsibilities, quick deadlines, and a high cost for failing to comply with its terms. At HLG, our attorneys will perform a comprehensive review of the contract for errors and omissions, and outline each party’s rights, responsibilities, and remedies after a breach. If you receive an Arizona Real Estate Contract, before you sign, contact your Buckeye Arizona Real Estate Lawyers for advice and counsel.
Due Diligence Must be Done in a Timely Manner
Most Arizona Real Estate Contracts include closing terms that state “time of the essence”. As a result, another important task is the timely performance of due diligence. Due diligence can take the form of “pre-contractual due diligence” and “post-contractual due diligence”. When people think of “due diligence”, they usually think of post-contractual due diligence because that is the form most often exercised. It is most often associated with a buyer’s due diligence to inspect and appraise the property.
In most Arizona Residential and Commercial Real Estate Contracts, the due diligence period starts as soon as the contract is signed and earnest money is paid. For buyers, as mentioned briefly above, this involves having an inspection and appraisal done on the property, obtaining any necessary financing, and investigating any concerns about the property. For sellers, this involves preparing the property for sale, ensuring the buyer is meeting contractual deadlines, and making and cooperating with all reasonable requests for information from the buyer, or their agent.
Enforcing your Rights and Remedies
In Arizona Real Estate Contracts, each party has rights and responsibilities under the contract. Those rights and responsibilities usually involve timeliness and compliance with the general terms of the contract. One person’s responsibility under an Arizona Real Estate Contract co-relates to a contractual right of the other party. This means that when one party fails to meet a contractual responsibility, the other has the right to enforce the party’s responsibility.
When a party fails to live up to contractual requirements, this is where your Buckeye Real Estate Lawyers at HLG step in. When one party fails to meet a contractual requirement, this is known as a “breach” or “breach of contract”. Our attorneys will immediately begin the process of gathering information, assessing liabilities, and enforcing your rights and remedies under the contract. Our attorneys are battle-tested trial lawyers with over 20+ years of experience.