Once your attorney has reviewed and discussed the contract with you, you might be ready to sign! As exciting as it will be to have a contract you can sign to complete the deal, once the contract has been signed by both the Buyer and Seller, both parties are legally bound to its terms. The purchase contract is the most important step in buying or selling a home. It may be too late after you’ve signed the contract to apply any of the helpful advice and counsel of your attorney. If you don’t have time to review the contract with your attorney before signing, then you should include a provision in the contract that states the contract is subject to the review of the Buyer/Seller’s review and approval within an agreed-upon time frame. This will provide both parties additional time to sit down with their attorneys, review the contract, and allow for the possibility to negotiate the terms, if required.
