Bassi, Vreeland & Associates, P.C.
Local Experience for over 70 years
Free consultation for medical malpractice and personal injury

How to protect a real estate transaction

Most people in Pennsylvania would not hesitate to hire a lawyer for a business transaction that was in the hundred-thousand-dollar range. However, not everybody decides to look for legal representation when the same amount of money is at stake in real estate purchases.

One possible explanation for this is that trained agents are there to advise home sellers and buyers. However, it is not uncommon for these agents themselves to be party to a real estate transaction dispute.

As explained on The Balance, one of the most common disagreements in real estate has to do with procuring cause of a sale. In plain terms, this is the idea that the agent who coordinates a closed deal for a buyer deserves the buyer's commission associated with the sale. One way that home buyers might avoid conflict on this point is by signing a representation contract with agents. Unfortunately, the standard contracts may not fully delineate all of the necessary duties and responsibilities of all of the parties involved.

FindLaw goes through some of the other potential pitfalls associated with buying and selling a home. There is significant potential for legal action surrounding:

  • Home inspection
  • Title and deed
  • Closing and financing
  • Purchase agreement

With the amount of money involved and the potential for dispute, legal advice and custom written contracts are typically just as important for real estate matters as they are for small business transactions. For investors or others who depend on a low average transaction cost to meet their goals, this level of attention to detail has the potential to be even more essential. However, there is sometimes no need for a custom contract: As mentioned on the FindLaw resource, even a legal consultation and minor research may be enough to provide enough context and analysis for a sale.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Washington Office
62 East Wheeling St.
Washington, PA 15301

Phone: 724-705-0146
Washington Law Office Map

Charleroi Office
111 Fallowfield Avenue
P.O. Box 144
Charleroi, PA 15022

Phone: 724-705-0146
Map & Directions

Contact Us Today

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy