The sale or purchase of real estate is what one traditionally thinks when one thinks of real estate.  The  market today in Michigan is flooded with homes for sale, and a majority people have been involved with, or have at least considered, a real estate sale or purchase transaction at some point in their lives.  Real estate brokers and agents handle a good portion of the market in such transactions, but an attorney can be of great assistance.

The Purchase Agreement Sets the Stage

The most important stage in the real estate sale or purchase is the purchase agreement, which is the contract between the buyer and seller that, like other contracts, defines the terms of the transaction between the parties and sets their rights and obligations.  Once signed by both parties, a purchase agreement is normally binding and is often difficult to undo.  Therefore, legal advice is the most valuable before one signs a purchase agreement, even though there are many steps that follow in the sale or purchase of a home.

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