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For most of us, the purchase of a home will be the single largest investment we make in a lifetime. Murphy & Volbrecht, S.C. would like the opportunity to assist and guide you through this important process.
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The first document created to begin the transaction is the "Offer to Purchase". That is a document which sets forth the terms under which the transaction will come to a close.
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If an attorney at our firm is not immediately available, you can have your real estate agent put an Attorney Approval Contingency in the Offer. An attorney's input however, can be crucial in drafting that offer because it controls and sets your rights and responsibilities relative to the purchase. Once signed by all parties it is a binding contract and a failure to follow it can lead to serious penalties.
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Often the Offer to Purchase is not immediately accepted because the Seller may want a few changes. The Seller may prepare a document entitled a "Counter Offer." If you agree to the changes, you as Buyer can sign the Counter Offer and reach an agreement. The Offers to Purchase with the changes in the Counter Offer then constitute the contract...
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A simple real estate transaction is really not so simple anymore. All parties to the transaction run risks and liabilities that were never even thought about just a few years ago. A residential Real Estate transaction requires expertise that will focus on the fundamental, yet critical issues involved in a residential real estate transaction, from the initial listing and offer - to purchase through the closing.
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