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What is A Real Estate Investment Breach of Contract?

| Oct 5, 2015 | Commercial Real Estate |

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Any developer of California real estate will very quickly become familiar with the necessity for a real estate contract. Many feel comfortable identifying various aspects of the contract and advantageous elements to include for their transaction. Purchase contracts pertain to any house or other real property. They are enforceable agreements specific to geographic regions. Certain criteria are required to appear in any purchase agreement, i.e. signatures from both the buyer and seller involved in the transaction, the sales price agreed upon, the date of the transaction, etc. It seems simple in theory, but it’s actually quite complex.

Due to the complexity of the sales contract or purchase agreement, developers can benefit from the experience and knowledge of a California real estate and land law attorney. An experienced real estate lawyer can carefully review any contract agreement prior to finalizing the transaction. It’s the most efficient method of avoiding future problems.

When property owners or previous property owners have a dispute regarding the transaction that is not specifically addressed in the original purchase agreement, it could quickly escalate into a legal dispute rendering the property in question useless and potentially uninhabited while the dispute is settled in court. This could take months or even years depending upon the extent of the litigation process that is involved.

To avoid problems with your property after the transaction is completed, get in touch with a California real estate and land development attorney experienced in your region. It’s best to obtain legal assistance before there’s a problem as a good attorney can help you to avoid situations that result from a breach of contract.

What is a Breach of Contract? A Breach of Contract results any time that any party involved in a purchase agreement (buyer or seller) does not uphold their end of the agreed upon terms specified in the contract. When this happens, the contract is considered “breached.”

If you fear a breach of contract or if you would simply like to take steps to avoid the potential eventuality, contact The Law Office of Retz & Aldover LLP today. We can assist you in handling what is often a frustrating and confusing situation by reviewing the situation, assessing the breach, and facilitating the most efficient resolution.