Purchase and sale agreements are a necessary component of the home-buying experience. After weeks, months, or years of searching for the perfect home, it can be tempting to rush through the paperwork.
But before you sign off on your purchase and sales agreement, take a look at the top of the page. Does it say “New Hampshire Association of Realtors Standard Form”? This should be a reminder that your purchase and sale agreement was designed with the realtor in mind, not to protect your best interests.
The most important thing to remember while reviewing the purchase and sale agreement for your new house is to make sure you’re getting what you expect. Often times, buyers and sellers verbally agree to certain things during negotiations, but those items are never included in the purchase and sale agreement. If those verbal agreements are not in the P&S, they are not enforceable. In addition, there are several deadlines in the purchase and sale agreement which you must be sure to meet. Make sure you review the document completely.
When Welts, White, & Fontaine attorneys review purchase and sales agreements for clients, they often recommend additions or other changes to the standard form which are designed to further protect the buyer. These changes depend on the type of real estate, whether the home is brand new, and your financing agreement. They are typically minor changes, but can help protect your investment and biggest asset.
If you’re purchasing a new home in the Nashua area or elsewhere in Southern New Hampshire, don’t leave anything to chance. Have the experienced attorneys at Welts, White, & Fontaine review your purchase and sale agreement. Please call us for more information at (603) 883-0797 or contact us through the form at the very bottom of the page.
Israel F. Piedra
This blog is intended for informational use only. The information contained herein should not be construed as offering legal advice or a legal opinion.