Commerce Real estate – standard purchase agreements

Originally the majority of real estate purchases used standard preprinted contract forms provided as a service to real estate agents and brokers by their local Board or association. These purchase agreements/contracts of sale were written favoring the client, the seller.

Keys to your new home

Keys to your new home

Now the contracts favor the buyer.  Most buyer’s agents are utilizing these “pro-buyer” purchase agreement available through the same Boards and associations or prepared specifically for them by their legal counsel.   Whenever there are changes in technology or in court cases regarding real estate, the purchase agreements are modified so there won’t be legal loopholes.  Thousands of real estate transactions are done yearly using the same template purchase agreements.

Michigan homes for sale

Michigan homes for sale

You may also consider having an attorney, an attorney entirely on your side, review these pro-buyer purchase agreements.  I myself think it is not totally necessary and an additional expense to hire an attorney.  Many attorneys have no clue, nor the expertise in real estate law to be crossing off or adding to these standard purchase agreements.  BUT IF YOU WANT AN ATTORNEY GET ONE TO READ OVER the purchase agreement, please hire one.  I want you to feel comfortable and to be legally protected.  I may believe it is unnecessary but I will never verbally tell you not to hire an attorney.  In my past experience I have seen several attorneys come to the closing pick up their $250 and do nothing for their client.   If you are relocating to Michigan here are tips on Wayne County relocation amd Lakes in Hamburg MI

Keller Williams Realty

Keller Williams Realty

Now I’m not a real estate attorney, but I do not believe our real estate association or my company wants to get into litigation with anybody over a bad contract.  So I believe there has been many hours and consultation with attorneys over the years to put together the best purchase agreement possible for buyers and sellers.  Over the years these purchase agreements keep getting tweaked to make them better.  We use one purchase agreement no matter whether it is Homes for sale West Bloomfield Michigan or a lake house in Livingston County MI.

Just my thoughts on how good standard purchase agreements are now days.  I also offer a little home buyer perk.  I will buy you a lawnmower or kayak on any home you purchase and close through me. (up to $500 in value).  Do not let somebody else get the best home deals.  Join my Foreclosure VIP club and get the newest lakefront foreclosures and the newest lakefront listings emailed to you daily.

We try to help Michigan home buyers whether they are buying Commerce real estate or a home on a lake.  My goal is to give you the information you need to make a sound financial decision.  Here are four of our great lakes in southeastern Michigan.

So the bottom line is if you feel more comfortable with an attorney reviewing the purchase agreement do so.  I will never dismiss your worries.  If you are comfortable in the home buying process then the closing of your home will go smoother.  If you have any questions feel free to call or email me at yesmyrealtor@gmail.com

Posted in Buyer Tips, First time home buyers Tagged with: , , , ,

Search Homes

Untitled