Purchase and Sale Agreements

The Purchase and Sale Agreement, like the Offer, is a legally binding contract which obligates the Buyer to perform certain tasks prior to closing. The Purchase and Sale Agreement names the parties to the transaction; legally describes the property to be sold; states what, in addition to the land and house, is included in the purchase; dictates what happens if Seller can not deliver title on the closing date; sets buyer’s deadlines and notice requirements for financing and inspection contingencies; and states what happens if buyer or seller defaults. Attorney Glover meets with clients, prior to the signing of the Purchase and Sale Agreement, to explain each paragraph of the Agreement, to negotiate the terms of the Agreement, and to add additional language to the agreement to further protect his client’s interests.