All real estate purchase and sales are hybrids, being dictated by a combination of state laws, governing contracts, and real estate. Purchase and sale agreements vary in complexity and length depending on a variety of factors (such as the relationship between the parties, whether signing and closing are simultaneous or separate, the size of the deal, the type of concurrent estate, the real estate being purchased, and the liabilities being assumed.) John Onal & Associates works with its clients to negotiate the material terms in the letter of intent, the purchase price, the due diligence periods, and any other conditions precedent to closing. We use our insight and expertise to offer clients a quick turnaround on their transactions to maximize financial benefits while minimizing their risks.
As with any contract, real estate purchase and sale agreements must comply with the basic principles of offer, acceptance, and consideration. From the beginning, John Onal and Associates guides its clients in taking the precautionary steps to avoid binding themselves to terms without realizing its wide-ranging impact on the transaction. More specifically, John Onal & Associates offers clients services in:
• Drafting, negotiating and finalizing the purchase and sale agreement.
• Examining title and curing deficiencies and conducting any other due diligence.
• Performing any other conditions precedent for closing, such as third-party approvals.
• Drafting, reviewing and approving closing documents.
• Closing the transaction on the closing date and ensuring the delivery of the closing documents in exchange of the purchase price.