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Please be on notice that purchase agreements drafted by real estate brokers contain enforceable provisions that are not desired by purchasers.
Namely, time limitations to bring a lawsuit against the seller and or the broker no later than 6 months after the closing and full release of broker’s responsibility to honor fiduciary duties. For example if the broker were to misrepresent the condition of the property and the buyer relied upon that misrepresentation there would be no relief for the purchaser due to the release provision. Accordingly, purchasers are better served by having the purchase agreement drafted by a real estate attorney-as opposed to a broker's form agreement. #realestate #realestateattorney
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Detroit trends for Real Estate in 2018-2019. Link https://www.realwealthnetwork.com/markets/detroit-michigan/
The attorney review clause allows Realtors to prepare residential real estate contracts and allows the buyer and seller to sign the contract, but allow each party the right to have an attorney review the contract within three business days after it is signed, and to disapprove the contract or to make changes to it.
Call Harry Ellman Law (248) 871-7958 or setup an appointment at harryellmanlaw.com
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Law Offices of Harry Steven Ellman
What is your favorite part of Thanksgiving? The local, Made in Michigan food? The family? The Lions football??
Carefully review the definition of Force Majeure in your lease to determine whether there is any express event incorporating events such as COVID-19 and, if not, whether the general language is sufficient to include COVID-19 and its consequences. If in doubt, it may be helpful to seek legal advice early in the process of a mortgage foreclosure or eviction.
#realestate #realestateattorney
Call Harry Ellman Law (248) 871-7958 or setup an appointment at https://harryellmanlaw.com
