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Recent Articles
Real Estate Guidance
David A. Schweizer, Esquire
The purchase and sale of real estate is often the most significant transaction in a person's lifetime. Unlike New Jersey, Pennsylvania does not have a three day attorney review period that allows a person to terminate a previously signed contract. In Pennsylvania, once the contract is signed, the deal is final. Therefore, it is important to have an attorney review the contract of sale before it is signed. It is important to note that in transactions where there is no realtor involved, our office will prepare the contract.
The attorney's role is to explain the meaning of the various contract provisions and to identify which options are most appropriate for their client. This often requires the preparation of an addendum to carve out exceptions to the standard contract language in Pennsylvania, and to ensure that all of the client's wishes are included in the written addendum. This is important because in real estate, more than any other area of the law, a transaction is evaluated and interpreted based on the language of the written contract, without consideration of any oral promises or representations by either party. For sellers, the attorney engaged will ensure that the client is complying with all applicable ordinances and statutes that apply, and will assist the client in negotiating any issues associated with the property inspection or matters involving title. For buyers, the attorney will review the mortgage and title documents, assist in resolving any home inspection issues, and will explain to the client the significant differences between joint tenancy and tenancy in common ownership, if applicable.
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