In almost any real estate transaction, the primary document that is the focus of all parties involved is the purchase agreement. When this agreement is signed, many of the varying aspects of the transaction are locked into place. As a result, any disputes about purchase agreements can be conflicts that are heavily focused on the details of the document – the wording and phrasing that will, in all likelihood, ultimately resolve the dispute.
It seems that the purchase price listed in the purchase agreement is rarely the source of disputes – that number, after all, is fairly easy to determine. But, it can be the little things that bubble up into a dispute, such as what fixtures will transfer with the property, prior disclosures of issues that affect the property and even unknown liens against the property. Even though a purchase agreement may be in place and the parties may feel compelled to follow through with the transaction regardless of any disputes, it is important to be aware of potential legal options.
Attention to detail is crucial when the purchase agreement is drafted. If you get the first step right, it is less likely that any disputes will arise.
At our law firm, we understand that businesses and individuals in Nevada have a lot on the line when they are entering into a purchase agreement for a real estate transaction. This type of move can be quite significant, financially speaking. For more information about how our law firm attempts to help Nevada residents with purchase agreements and other real estate law issues, please visit our website.