A real estate purchase is, without a doubt, one of the biggest financial transactions most people ever undertake, whether as a residential homebuyer or purchasing commercial real estate for a business, and there are few places where this is more true than in the greater Los Angeles area.
The cornerstone of a residential or commercial real estate transaction is the purchase and sale agreement. Not only does this agreement bind the parties to a price, but it generally contains certain representations regarding both the parties and the property as well as the consequences for the failure of either party to abide by the agreement.
Because real estate transactions have such an enormous financial impact on both parties, working with an experienced real estate attorney to resolve issues related to a purchase and sale agreement can have a significant impact in protecting your interests both prior to and after the scheduled sale. The experienced real estate attorneys at Wagenseller Law Firm have extensive experience in winning positive outcomes for clients in all stages of the purchase and sale agreement process, including when such agreements are breached.
Common Legal Issues Related to Purchase and Sale Agreements
Whether you are just entering the market to either purchase or sell a piece of real estate, have already entered negotiations with another party for a real estate sale, or are dealing with another party’s threatened or actual breach of an agreement (or threatened legal action for an alleged breach on your end), our attorneys can help you with all matters related to your residential or commercial real estate purchase and sale agreement, including:
- Financial Terms of the Agreement: price, amount of down payment, etc.
- Physical Descriptions of Property: boundary lines and what aspects of the property are included in the agreement, including fixtures, pools, carpets, appliances, etc.
- Covenants: the types of legal covenants will be made regarding the property, such as issues relating to easements and property use
- Other Representations: representations regarding financing, available financial resources, zoning issues, etc.
- Contingency Issues: the ability of both parties to back out from the agreement and what consequences may occur as a result, e.g. money damages/penalties
Our experienced real estate attorneys represent clients in all aspects of real estate transactions, and can work with you to examine your options and litigation risks leading up to a real estate transaction or afterwards. We will work with you to pursue the legal strategies that best protect and defend your interests in resolving potential and threatened breaches and legal actions, including actions for specific performance.
Contact the Real Estate Attorneys at Wagenseller Law Firm
At Wagenseller Law Firm in downtown Los Angeles, our attorneys have extensive experience in resolving all types of real estate litigation matters, both in the residential and commercial markets, and we look forward to learning what we can do for you. Contact the Wagenseller Law Firm today to schedule a consultation to discuss your matter.