The Agreement of Purchase and Sale is the foundation of completing any purchase or sale transaction, as Agreements which create the terms of purchase, sale or financing of real estate, are required by law to be in writing.
In all instances of either purchasing or selling a property, a written Agreement of Purchase and Sale must be executed by both the purchaser and seller.
It is imperative that you have a clear, complete and effective agreement to govern your real estate transaction. Most disputes over real estate transactions are the result of poorly drafted or misunderstood agreements. Ideally, to ensure a proper understanding and an effective agreement, you should receive input from a lawyer at the earliest stages of your transaction.
Following the execution of an Agreement of Purchase and Sale, a lawyer shall be required to act for both the buyer and seller to complete the transaction.
This is because lawyers are some of the only individuals who have been granted authority by the Land Registry Office to amend, transfer or register title to a property. Individuals who are not lawyers and who do not hold a position within the Land Registry Office itself, cannot themselves effect the change or transfer title to a property in a real estate transaction.
As a buyer’s lawyer, we will work with you to ensure you acquire good title, free from liens and other encumbrances. We will arrange for title insurance for your property, work with your lender to ensure that your financing is received, and take all of the necessary steps to ensure that your purchase is successfully completed.
As a seller’s lawyer, we will ensure that any mortgages or Lines of Credits currently registered against title to your property are discharged and paid-out and that you receive your net sale proceeds following the completion of your Sale.