A purchase and sales agreement is one of the first steps in a real estate transaction. When commercial property is involved, these agreements are generally much more complex. Having an experienced lawyer draft or review your purchase and sales agreement is critical to making sure that every detail is covered. Failure to do so could leave loopholes in the agreement or leave you open to potential liability. If disputes arise, a real estate litigation and dispute attorney in Houston can help enforce your rights and protect your investment. Call Porter Law Firm today at (713) 621-0700 or fill out the form to get a consultation to have one of our Houston purchase and sales agreement attorneys get started working for you.
Reasons to Choose Porter Law Firm
For over 15 years, clients in the Houston area have come to trust Porter Law Firm for all their business and real estate needs. We not only seek to provide you with the best representation, but we work to collaborate with you in your business ventures and investments as well. Some of the reasons clients select our firm are:
- Many of our lawyers are commercial property owners too
- We take a personalized, hands-on approach to your representation
- As a boutique firm, we have the agility to customize our strategy for your specific situation
- We know how to help you grow your portfolio and make smart investments
Set up a consultation with us today to learn more about our personalized approach and how we can help with your purchase and sales agreement.
Why You Should Hire a Lawyer For Your Purchase and Sales Agreement
The purchase and sales agreement is at the heart of any commercial real estate deal. The documents can take a significant amount of time to negotiate and draft. There are several reasons you need a lawyer to help draft or review your agreement, including:
- Handling the legal complexities of the document
- Putting contingencies in place, such as financing approval, inspection periods, and specific property conditions
- Helping to protect your rights
- Performing preliminary title work or public records searches
Failure to have an attorney review your agreement could leave you stuck moving forward with the deal, even if unfavorable issues arise along the way. Your attorney can help account for these items and provide you with a way to back out of the contract if necessary. While many residential agreements are available from the Texas Real Estate Commission, commercial agreements are generally much more complex and usually require the assistance of a lawyer.
Common Provisions of a Purchase and Sales Agreement
Commercial purchase and sales agreements are complex documents that address many different items associated with the transaction. Some of the items contained in the agreement are quite basic, like the names of the buyer and seller, the purchase price, and the address and description of the property. Other provisions of these agreements are more complex and may include:
- Due diligence details, such as inspection periods, zoning concerns, and other items
- Title and survey provisions
- Fixtures or other items to be included with the sale
- Warranties or covenants
- Closing details
Purchase agreements should include clearly defined warranties and covenants to protect all parties involved. A Houston contract formation and review attorney can help you make sure every detail is addressed in your agreement.
Schedule a Consultation With a Houston Purchase and Sales Agreement Attorney Today
Prior to entering into an agreement for the purchase or sale of real estate, make sure you consult an attorney. The purchase and sale agreement is often one of the first documents signed as part of the transaction, and the provisions of this document will affect nearly every detail of the deal. Make sure you protect yourself by having a Houston purchase and sales agreement lawyer on your side. Contact Porter Law Firm today to let us help keep you protected.