Buying or selling real estate is a major financial undertaking. Purchase agreement disputes can disrupt a residential or commercial transaction, potentially costing the parties time and money. At North Raleigh Law, I assist individuals and businesses in North Carolina during real estate contract disagreements. My firm also represents clients involved in lease conflicts. You can rely on our experienced lawyers for effective guidance when you are faced with a contract issue during a property transaction.
Purchase agreements are contracts that provide the terms and conditions parties must accept to complete a real estate transaction. Once signed by the buyer and seller, these contracts are legally binding. If one party fails to meet the contract terms, a legal dispute may arise. A few common examples of real estate contract disputes include:
Before signing a purchase agreement, be sure that you clearly understand your rights and obligations, as well as those of the other side. The same goes if you are entering into a contract to lease a property. I can review the agreement for you and address any questions or concerns that you may have.
What if a buyer learns in the title search that there is a lien for unpaid debts on the subject property? The seller is generally responsible for paying off liens before the closing. If this does not happen, the purchase can be canceled. My firm will advise you about your legal options if the home you are purchasing has liens against the title.
If one party backs out of a contract, there might be questions about what happens to the following types of funds that have already been put forth by the parties:
Every real estate purchase agreement dispute is unique. You count on me for sound, personalized guidance based on your particular circumstances and goals.
Sellers in North Carolina are required by law to disclose known defects. If you have not yet closed on the home or other property and are just learning of a known problem that was not disclosed, you may be able to cancel the purchase. If you bought a home or other property and have discovered problems that you believe the seller hid or lied about, I have the real estate litigation experience necessary to investigate the situation and advise you about possible recourse, including filing a lawsuit against the seller to pursue appropriate financial relief.
North Raleigh Law assists North Carolina property buyers, sellers, lessors and lessees with real estate purchase agreement disputes. To schedule a consultation, please call 919-436-1105 or contact me online.