Menu Close Menu

Blog

Cold Feet II

Posted by Tim Lam | Oct 03, 2013 | 0 Comments

In part one, I mentioned that there are several pitfalls which can upset an attempt to complete the purchase of a home in the face of a seller who's trying to bail out on the transaction. If you're seriously committed to the purchase, make sure an attorney carefully inspects the purchase and sale agreement, even if it appears to be a standard form. There may be "fine print" conditions inserted into the language which can catch you out as non-compliant and give the homeowner an out if you haven't met them. Additionally, ensure that any time limitations in the contract have been met - if you haven't secured a home loan within a specific time frame, the contract may be invalidated. Have your ducks in a row from the beginning.

In California, the majority of home sales are conducted using the California Association of Realtor's standard purchase and sales form. In accordance with the CAR format agreement, you must demand to mediate the dispute to preserve your claim to attorney's fees.

About the Author

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Law Offices of Edward C. Ip & Associates

Edwardcip

Our law firm represents homeowners, landlords, tenants, contractors, subcontractors, architects, engineers and material suppliers. Because we have an in-depth knowledge of construction law, real estate law, and property law, we know how to find the facts, ask the right questions and get results.

Contact Us Today!

We try to work out disputes through negotiation, but we will never back down from a court fight. Our Los Angeles construction lawyers and real estate lawyers gather all the facts and then advise you about what makes the most economic sense for you.