Monthly Archives: July 2013

PURCHASE AND SALE OF A BUSINESS UNDERSTANDING THE SELLER’S POINT OF VIEW For many business owners who have spent their lives starting and building up a business, selling it is the means of funding their retirement.  Others want to sell in order to finance another business venture or a trip around the world or up […]

Once all the contingencies in a contract for the purchase and sale of residential property have been satisfied, the parties are obligated to proceed toward closing. But what if, after all that, the buyer refuses to go through with the purchase? Sellers often assume that they get to keep the buyer’s deposit, but this is not necessarily the case. What if it is the seller who refuses to go through with the sale? The answers to these questions should be found in the contract, in a section usually headed FAILURE OF BUYER OR SELLER TO SETTLE.

Once a contract for the purchase and sale of residential property has been signed by both buyer and seller, and the attorney review period has concluded without cancellation of the contract (or with cancellation and reinstatement of the contract), it becomes binding on both buyer and seller. The seller must sell to the buyer, and the buyer must buy, except for CONTINGENCIES.

Once a contract for the purchase and sale of residential property has been signed by both buyer and seller, and the attorney review period has concluded without cancellation of the contract (or with cancellation and reinstatement of the contract), it becomes binding on both buyer and seller. The seller must sell to the buyer, and the buyer must buy, except for CONTINGENCIES.

As the housing market is coming back to life, there has been an uptick in the number of residential real estate transactions in recent months. For most homeowners, the attorney review process is among the more confusing elements of the purchase or sale of their home.