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practice

Purchase Agreements

{h1}Purchase Agreements{/h1}
Recent transplants from the East Coast are often surprised to learn that the process of purchasing a home in Nevada does not require the involvement of attorneys.  Rather, licensed real estate agents handle the transaction from the initial offer to closing.  There are times, however, particularly in For Sale by Owner transactions when enlisting the help of an attorney can prevent serious problems down the road.  The adage “caveat emptor” – buyer beware - applies particularly in the purchase of residential real estate.  Serious damage to the property requiring expensive repairs can often be covered with a coat of paint or a carefully placed rug.  With respect to the condition of the property especially, a carefully drafted purchase agreement can ensure both parties’ short-and long-term interests are protected.  The expense of hiring an attorney to draft a purchase agreement is a small price to pay to avoid the protracted litigation that often results from disputes stemming from a poorly written document.