Do I need a lawyer to help with the Purchase and Sale agreement?

Additional Information:

If I have an experienced real estate broker helping me find a house, why do I need a lawyer to help me with the Purchase and Sale Agreement?

ATTORNEY ANSWER:

A real estate broker is trained to help individuals find the right home, but they are not lawyers, and a Purchase and Sale Agreement is a legal document that sets forth the rights and obligations of the Buyer and the Seller. If you are either the Buyer or the Seller, then you want to make sure that your rights are protected. The so-called Standard Purchase and Sale Agreement usually is modified to reflect certain matters that the parties have agreed to, not only with respect to inspection issues, but also with respect to what would happen if the deal falls apart, and what if any contingencies there are, such as a mortgage contingency. Whether you are the Buyer or the Seller, you should always have a lawyer represent you.

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