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Updated over 4 years ago on . Most recent reply

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Contract Help Please

Norman Alsumairi
Posted

So I’ve been talking to a guy about selling his piece of land too me since he wants to move and start new. I want to get the exclusive rights to buy the property and/or have a contract that’s legally sound made so that I can purchase his property and take over ownership.

Do I need a lawyer for that or are there contract resources online from which I can get a copy of the contract from with a fill in the blank kind of format?

Thanks to anyone who helps I appreciate it. I’m new to this and I’m looking to hopefully start my legacy at 23 and snowball this deal into a bright future.

Most Popular Reply

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David Gotsill
  • Attorney
  • Tokyo, Japan
145
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David Gotsill
  • Attorney
  • Tokyo, Japan
Replied

@Norman Alsumairi - If you look through the real estate association information for the jurisdiction of the property, you should be able to find standardized form contracts for simple (i) purchase and sale and (ii) option to purchase transactions.  

Unless there is something particularly unique about this arrangement, it's likely that a standard form contract will suffice.  That said, if I were you I'd still have a discussion with an attorney, letting them know the history of the deal and what you feel are the risks from seller.  I'd speak on the phone to 2-3 before engaging one, as it's a good chance to get to know them and choose one with whom you can build a long-term relationship.  Getting a cheap contract is far less valuable than knowing someone you can turn to when an unexpected issue arises.

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