How to Prevent Litigation in Real Estate Contracts
Real Estate Litigation Lawyer
When you buy or sell property, you will be required to enter into a real estate contract. Both parties are expected to follow all the terms laid out in the contract. However, litigation over real estate contracts still occurs from time to time and can be expensive and stressful.
Here are a few ways to prevent litigation in real estate contracts.
Create a Clear Contract
To avoid ambiguities and misunderstandings, it’s important to establish a clear real estate contract from the get-go. It should include direct language that’s easy for everyone to understand. If certain elements in the contract aren’t completely clear and complete, they can be misinterpreted. One of the parties may try to get out of the contract or do something that goes against the contract as a result.
Follow the Terms of the Contract
Although this might seem obvious, not all parties in a real estate contract take this seriously. One of the most effective ways to avoid real estate disputes is to simply abide by the terms of the contract. This includes abiding all deadlines outlined in the contract. That’s why it’s important to fully understand the terms of the contract. If you’re unsure about something, you shouldn’t hesitate to ask your real estate lawyer for clarification.
Likewise, if you notice that the other party isn’t abiding by the terms of the contract, you should notify them as soon as possible. Communicating promptly may mitigate the issue quicker.
Make Changes in Writing
There may come a time when you or the other party wants to amend certain terms of the contract. If this is what you want to do, it is crucial to do so in writing. A simple handshake won’t do. If litigation should arise in the future, you will at least have a written record.
Have a Real Estate Lawyer Review the Contract
Whether you are buying or selling property, it’s in your best interest to have an experienced real estate lawyer look over your real estate contract before you sign it. Even if the other party seems trustworthy, you still want to protect yourself. A lawyer will explain the terms of the contract to you and make sure that it reflects your best interests.
If you are facing real estate litigation, you may want to get in touch with a real estate litigation lawyer, like one from Eric Siegel Law, today.l