A Lease is a document that is both a contract and a conveyance of an interest in property, the interest being the right to occupy and use the property for a stated period of time, or term. The landowner is the lessee and the person taking possession of the property is the tenant. The term of a lease may be short or long (leases of 99 years or more are sometimes used). Leases may provide for their own renewal. Historically, leases were used only to rent real property. Increasingly they are used to rent personal property, especially expensive farm machinery, motor vehicles, industrial machines and business equipment.We can help you with writing a commercial or residential lease. Contact the Law Office of John A. Best for a consultation and we will help you decide what direction you may want to go regarding your specific problem.
Offer to Purchase
Once you find the home or business you want to buy, the next step is to write an offer that begins negotiating a sales contract with the seller. Since this is just the beginning of negotiations, you should put yourself in the seller’s shoes and imagine his or her reaction to everything you include. Because of the huge dollar amounts involved, especially in today’s litigious society, both you and the seller want to build in protections and contingencies to protect your investment and limit your risk.
In an offer to purchase real estate, you include not only the price you are willing to pay, but other details of the purchase as well. This includes how you intend to finance, your down payment, who pays what closing costs, what inspections are performed, timetables, whether personal property is included in the purchase, terms of cancellation, any repairs you want performed, which professional services will be used, when you get physical possession of the property, and how to settle disputes should they occur.
Buying a home or commercial property is a major event for both the buyer and seller. It will affect your finances more than any other previous purchase or investment. The seller makes plans based on your offer that affect his finances, too. However, it is more important than just money. In the half-hour it takes to write an offer you are making decisions that affect how you live for the next several years, if not the rest of your life. The seller is going to review your offer carefully, because it also affects how he or she lives the rest of their life.
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A land contract involves property with a dwelling on it. The seller agrees to transfer title to the property once the buyer pays the purchase price in installments. In the meantime, the buyer has the use of the property, but the seller keeps title to it as security in case the buyer does not make the agreed payments.
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Counter offers are generated by a home seller after a buyer has submitted an offer to purchase. Typically, counter offers will state that the seller has accepted the buyer's offer subject to the following particulars.
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