What Classifies as a Real Estate Transaction?
A real estate transaction involves the process of buying, selling, or leasing property. This can include residential, commercial, industrial, or land transactions. Key components of a real estate transaction include:
Listing Agreement: An agreement between a property owner and a real estate agent to market and sell the property.
Offer and Acceptance: A potential buyer makes an offer that the seller can accept, reject, or counter.
Purchase Agreement: A legally binding contract that outlines the terms and conditions of the sale.
Due Diligence: Inspections, appraisals, and title searches to ensure there are no issues with the property.
Financing: Securing a mortgage or other funding for the purchase.
Closing: Finalizing the transaction with the transfer of funds and the deed
What Steps Should You Take After a Real Estate Transaction Dispute?
Gather Documentation: Collect all relevant documents, including contracts, emails, and correspondence related to the transaction.
Attempt Resolution: Try to resolve the issue through mediation or direct negotiation with the other party.
Consult an Attorney: Seek advice from a real estate attorney to understand your rights and potential remedies.
File a Complaint: If necessary, file a formal complaint with the appropriate regulatory body or take legal action in court.
What should you bring or have on you when contacting the law office?
Identification: Valid ID for verification.
Property Documents: Deeds, titles, and any other documents proving ownership or interest in the property.
Contracts and Agreements: Copies of all agreements related to the transaction, such as the purchase agreement, listing agreement, and any addendums.
Communication Records: Emails, letters, and notes from phone calls related to the transaction.
Inspection Reports: Any reports from property inspections or appraisals.
Financial Documents: Proof of financing, mortgage documents, and any receipts related to the transaction.
Dispute Details: A written summary of the dispute, including key dates, events, and the parties involved.
