When you are purchasing a house, you have the option to enter into an oral contract. However, if you instead enter into a written contract, you will have a much easier time holding your contract up in court in the future. Otherwise, your contract might not be enforceable and you may not be able to enforce the contract if something goes wrong.
Enforcing the Contract
In states such as Ohio, the contract can only be enforced if it is put in writing and signed. You will need to speak with real estate attorney services to find out how you will be able to recover your property if you do not have a written contract. In some cases, you will be able to recover your property under the grounds of unjust enrichment.
Your Credibility Vs. the Other Party
Part of the reason why you need a contract is that it can affect your credibility in the eyes of the court. If you do not write a contract that specifically lays out your terms, the courts are less likely to be sympathetic. Even if you feel like you trust the other party, such as if they are a friend or family member, do not find yourself in the difficult situation of having a legal battle with a family member when you don't have a contract.
An attorney can help you as you are writing the contract. The attorney will also help you from the moment the contract is signed to the negotiation period and the closing of your sale. Writing a contract and selling a home can be a complex process because you will need intimate knowledge of state, local, and federal laws.
Situations Where You Will Especially Need an Attorney
Depending on the state you reside in, you may be required to use real estate attorney services to sell your home. Even if it is not required in your state, you will want to hire an attorney if you have any liens on your home. You will want to make sure that all your liens are paid correctly.
If you are carrying out a short sale, you will need to go through extra steps to complete the process and will need help from an attorney. Also, if you inherited the home, you may need an attorney to help you sort through the ownership documents. While attorneys do charge fees, you'll always be better off in the long-run.
Reach out to a real estate attorney to learn more.
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