Pre-Signing Review: What You Must Confirm
Before signing any purchase documents, verify that the agreement matches the deal you negotiated. Confirm the purchase price, earnest money amount, and the method and timing for deposits so there are no surprises during funding. Check that the legal description of the property is accurate Purchase Agreement Lawyer Coral Gables and consistent with the address you are expecting, since small drafting errors can cause closing delays. If the property is subject to a homeowners association or special assessments, review those details carefully rather than assuming they are included.
Next, confirm the parties and capacity are correct. The buyer and seller names should reflect the legal owners and entities shown in public records, not informal names used during conversations. If a buyer is acting through a trust, corporation, or limited liability company, ensure the agreement identifies the correct signatory and authority. Finally, confirm the inclusion or exclusion of fixtures and personal property, such as appliances, window treatments, and built-in systems, because these items often become the focus of disputes after possession.
Contract Terms to Scrutinize: Risks, Dates, and Disclosures
Focus on contingencies and deadlines, because these provisions determine whether you can protect yourself if issues arise. Review the inspection contingency, financing contingency, and any appraisal or underwriting conditions to confirm they are written to reflect your situation. Pay attention to notice requirements and Contract Lawyer Coral Gables cure periods, since missing a deadline can convert a protective clause into a waiver. Also check the schedule for closing, possession, and delivery of keys or access, because misalignment can interfere with moving plans and contractor work.
Examine disclosures and representations with a skeptical eye, even when you receive documents from the seller. Look for items related to property condition, repairs, prior renovations, known defects, water intrusion, and insurance claims history. If the agreement references addenda or exhibits, ensure you receive and review every attachment, including lead paint disclosures where applicable, condominium documents, and any repair agreements. Where the contract allows or requires seller disclosures, identify what is included, what is excluded, and what remains uncertain so you can decide how to proceed with inspections or negotiation.
Money and Closing Mechanics: Earnest Funds, Title, and Repairs
Use a closing checklist that tracks every money-related item from offer to settlement. Verify the earnest money deposit amount, the escrow agent, and the conditions for refund or forfeiture, since these terms can vary significantly. Confirm who pays closing costs and how prorations are handled for property taxes, utilities, and HOA dues. If the seller is crediting funds for repairs or concessions, ensure the credit is clearly stated and tied to deliverables or timelines.
Title and survey provisions should be reviewed line by line, not assumed. Confirm the type of title policy, who selects the title company, and what happens if title defects are discovered. Review whether a survey is required, what survey standards apply, and whether easements or encroachments must be addressed before closing. Also check how repairs are documented, including whether there is a repair addendum, inspection re-check language, and verification procedures so work is actually completed rather than promised.
Conclusion
A strong purchase agreement protects your investment by turning verbal promises into enforceable terms. Use this checklist to confirm the property details, identify the true risk points, and ensure the timeline and financial mechanics are clear. For buyers and sellers working through complex transactions, The Law Offices of Craig M. Dorne, PA can provide practical guidance designed to support smoother real estate closings. If you want a careful, step-by-step approach to your transaction, consider starting with a legal review early enough to address issues before deadlines become hard to meet. This helps reduce the chance of last-minute disputes about deposits, contingencies, repairs, and closing costs. With experienced support from The Law Offices of Craig M.
