Logically, we tend to group the buying and selling of real estate together. It is the same event viewed from opposing sides of the bargaining table. But treating a sale like a purchase simply isn’t feasible. It’s a different experience, with its own set of challenges and potential hurdles to overcome. Your Legal Sherpa® from Yeti Law has the expertise to guide you past these hurdles, and understands how the needs of the seller differ from the needs of the buyer.
Clarity of the Purchase & Sale Agreement
Given the importance of the Purchase & Sale agreement, your best course of action is to have a trusted, experienced lawyer like your Legal Sherpa® assist in drafting the agreement to ensure it accurately reflects your goals as the seller. Even if you are working with a real estate agent, it is always a good idea to have a lawyer review the agreement.
The agreement should outline terms and conditions, pricing, timelines, and any special arrangements you may have with the buyer. The clear and specific language found in a custom agreement drafted by your Legal Sherpa® will be far more precise and better reflect your intentions than a bare bones standardized form. It’s this level of clarity and specificity that will offer you the greatest protection and minimize potential disagreements. For example, a feature you consider a chattel (personal possession), may be construed by the buyer as a fixture (equipment or furniture that is fixed in position), which could lead to problems if you intend to remove said feature from the property. Yeti Law can protect you from any such disagreements with a clear and concise agreement.
Negotiating the Purchase & Sale Agreement
Real estate sales can quickly turn into heated negotiations. Unlike a real estate agent who may be representing both you and the buyer, your Legal Sherpa® will always advocate exclusively on your behalf. You will never have to concern yourself with your Legal Sherpa’s® motive, and you will never have to worry about possible conflicts resulting from dual agency — your Legal Sherpa® always works for you, and only for you, in the negotiation of your sale.
Keep in mind, there is more to the negotiation than merely getting you the best price. It’s a complex process, with a lot of back and forth, which can be difficult to navigate without a lawyer acting as your guide. Your team at Yeti Law has the specialized experience and knowledge to prevent sales negotiations from overwhelming you.
There will also be multiple opportunities during the process to amend and review the agreements to ensure that the agreement remains acceptable to you, and that any amendments called for don’t negatively impact you in some unforeseen way. Your Legal Sherpa® will ensure that you remain protected throughout the process.