REAL ESTATE AGREEMENTS 

What Are Land Purchase Agreements?

A land purchase agreement, or a land contract, is a written document used to sell and purchase real estate. This includes land, a house, commercial building, apartment, etc. It works as creating a system of payments for the buyer, similar to a mortgage; payments are made until the property is paid in full. After the signing of the contract, the legal title of the property transfers to the buyer by way of a warranty deed. Our Dallas real estate attorneys can advise you on a wide range of legal matters, including land purchases, home purchases, deeds of trust, land purchase agreements, and other commercial transactions involving land. When you work with our firm, you can rest assured you will receive direct legal counsel from a well-versed lawyer in business, corporate, and commercial law. Among other things, our real estate lawyers can help you understand the key points of land agreements:

• A land purchase agreement can also be referred to as a land contract;

• Both parties benefit from a land purchase agreements;

• A land contract installs monthly payments instead of cash at hand or instant full transfer;

• A seller has the ability to negotiate price;

• A buyer doesn't necessarily need the best credit score; and

• Ensures the legality and security of a safe title transfer.

If hired, a real estate attorney will attend the closing with the buyer and/or seller to ensure a smooth closing. Closing occurs when title documents are signed, money is paid, and the seller transfers the title to the buyer. Our Dallas real estate attorneys are there not only t review real estate documents but to oversee the legal and binding transfer of real property. 

How To Avoid Fraud When Buying Real Property?

Without due diligence, one of the most devastating frauds that can occur to a property purchase is title fraud. Title fraud occurs when a seller poses an owner, produced forged documents that have often been filed with the city or county, and sells the property to the unsuspecting buyer under false pretenses. This type-fraudster will fraudulently sell the title, take the closing proceeds, and often cannot be found after the sell give her or she used false identification (e.g., a fake driver’s license, fake passport, or other false identification documents). Once the fraud is discovered, it is often difficult to find the fraudster. Our Dallas real estate lawyers can assist you in managing any real estate transaction and help you avoid fraud.

How Do I Create A Land Purchase Agreement?

The initial step in arranging a land purchase deal would be to create a purchase agreement for a land contract. This document is signed by the buyer who makes an offer on the property for sale. Next would be to file a memorandum of a land contract, as well as the signing of it that includes both parties in the deal. Next comes drafting of the deed in order to transfer the legal title of the property, the seller should sign this at the closing of the deal. After that, prepare the closing statements, arrange titles insurance, and finally, if need be, contract professional or legal help to ensure the smooth transition of the title and to sort out any legal issues that may arise. Our Dallas property lawyers advise individuals, small businesses, entrepreneurs, and real estate companies and can assist you in preparing your land purchase agreement