Top Five Provisions to check before signing a Real Estate Contract!!!

Top Five Provisions to check before signing a Real Estate Contract!!!

When the time comes for you to sell your home it may seem like a very daunting process. If you are using a realtor, he or she should have the contract properly filled out before you sign anything (if you are not using a realtor, I can make sure the contract is filled out correctly for you). However, the contract is a 13 page document that you have never seen before and with which you are not familiar. What should you check before signing it? Below are the top five provisions you should review before signing your real estate contract:

FIVE PROVISIONS TO CHECK BEFORE SIGNING A CONTRACT

  1. Purchase price
  2. Personal property to be transferred
  3. Real estate tax proration
  4. Plat of survey inspections
  5. Closing cost credits, if any

If you review those five specific provisions and all five of them seem correct, you are safe to go ahead and sign the contract. If the seller accepts it by signing it, forward the fully signed contract to your real estate attorney as quickly as possible. There is a short time period during which your attorney can propose changes to any of the provisions that may be incorrect in the contract. This is called the attorney review period.

Don’t worry if you feel this is too daunting a process to handle yourself, let us become the law firm that you know, like, and trust by handling it for you.

Your time is just as important as mine, that is why all meetings are by appointment only at either one of my convenient office locations: 200 West Main Street, St. Charles, Illinois 60174 or 136 Kimball Street, Elgin, Illinois 60120.

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