Legal Information About the Real Estate Contract

The conclusion of final agreement between a seller and a buyer is the Agreement of Purchase and Sale. We know it as the real estate contract.

There are five mandatory requirements for a contract under contract law:

1. The name, address and contact data for the seller(s) and buyer(s).

2. A clear description of the property. We prefer the tax map and parcel number but a street address, or other clear description will do. Such as “parcel known as Hudson Farm, being 456 acres more or less fronting on west side of US Route One and County Rd. 264, being about 9 miles north of Rehoboth in Sussex County Delaware. The final description on the deed at settlement will contain the Book and Page number where it was purchased, a survey description and tax map ID. For the contract any clear description that could ONLY be the property being sold is sufficient. This can be the Tax I.D. number.

3. The price and terms of payment. For instance: cash at settlement in thirty days from the date of this contract. Here should also be noted the deposit or consideration which may be as little as one dollar BUT is normally 10% of the purchase price.

4. The date of the contract.

5. Signatures of all sellers and buyers.

Although the contract need not be written on the form provided by the Realtor, it is customary to do so. On larger properties a simple note is often written which include the above 5 items and says that a full contract will follow. Then, the short contract is followed by another formalized contract drawn up by the attorney for the buyer or the seller. That is then reviewed and usually changed to some degree by the attorneys for the other side of the transaction.

On larger and more complicated properties the contract can go to dozens or even hundreds of pages. The five items here must be included but hundreds or thousands of other items may need to be included for some properties.

Most contracts today, for residential homes, are written on the standard contract form authorized by the County Board of Realtors and provided by the purchaser’s Realtor. The deposit money, or earnest money as it is sometimes called, is usually deposited in the escrow account of the selling Realtor.

Until all of the items above are included and ratified by all parties there is not a contract but only a “contract in progress” or an “offer” as we call it. This can be an offer to sell or an offer to buy and there may be several counter offers going back and forth as negotiations continue.

When everything is finalized the fully written and agreed upon document is said to be ratified. Even then the contract is not fully enforceable until it is conveyed, and received, in writing to all parties. THEN and only then can it be said to be a full and complete and enforcable contract.

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About Personal Injury Lawyers

A personal injury lawyer in Toronto provides legal representation to those people claiming that they have been injured either psychologically or physically. Such injuries must have occurred through the wrongdoing or negligence of an individual, a company or a government agency. These lawyers have more knowledge and experience in law regarding civil wrongs, economic damages and social disrepute that may be caused by an accident to one’s property, reputation, rights or physique.

These Lawyers have added responsibilities which include ethical and professional responsibilities that demand, in addition to the legal duties of filing complaints in court, arguing the cases and drafting the legal documents, the lawyer offer legal advice to the injured person. Before taking a case however, the lawyers usually interview the prospective clients, evaluate the cases, and identify the issues that would build a stronger compensation case. 

Like other injury lawyers, the lawyers start by examining the situation leading to the injuries that his or her client has. Depending on the nature of the injuries, he or she is able to know what kind of claims to press and the amount of compensation to seek. Some of the cases that a personal injury lawyer has to examine include medical malpractice, car accidents, products that cause injuries, animal injuries, humiliation, injustice and psychological injuries. Through all these, the lawyer guides the injured person by explaining his or her rights under the law and examining the different legal options available. The personal injury lawyers also takes time studying the nature of the injuries, gathering enough evidence to warrant just compensation in a quest to ensure that the injustices committed against the injured persona are corrected. 

Unlike other injury lawyers, a personal injury lawyer deals with each client one at a time. This means that instead of sharing his attention and time between different clients, the personal lawyer dedicates his entire efforts on a single case until it is resolved. They also provide expert advice on personal injury, handle the various aspects of claims that arise in a personal injury case and explain the repercussions of personal-injury insurance. Through out this process, personal injury lawyers in Toronto strive to get just compensation for and behalf of their clients in order to ease some of the pain or suffering caused by the injuries.

Some of the cases that the lawyer in Toronto has top deal with are injury compensation claims arising from car accidents, workers compensation, public liability claims, occupier liability claims, medical negligence, hospital negligence, professional negligence and insurance contract claims.  In Toronto today, there are quite a huge number of lawyers. As such, the injured persons need not have difficulties contacting one when the need arises. However, seeing that personal injuries need quality representation, people should consider settling for a lawyer who have successfully represented other clients before.  As such, contacting one with enough referrals is necessary.

Injury Lawyers and Legal Information (Car Accidents, Slip and Falls, Etc)

Ajax and Whitby are communities that have grown dramatically in recent times. While some injury lawyers have opened offices in the area, there is not the same presence of injury lawyers as there is in larger financial centers like Toronto, Ontario. While you may ultimately choose to retain a lawyer that practices in Ajax or Whitby, it can be a good idea to meet with at least one lawyer in Toronto or the surrounding area to see a contrast between the available law firms and the available resources to invest in your case. Injury cases often require significant financial investments by the law firm, and it can often be important to know whether the law firm has the financial resources necessary to represent you to the conclusion of the lawsuit.  

However, you do want to ensure that you hire a lawyer who is willing to come to Ajax or Whitby as necessary. Some lawyers in Toronto will commence your lawsuit in Toronto, which will mean that you will have to make a number of trips into Toronto. However, others who have a number of cases in Ajax/Whitby, are happy to start the lawsuit in Ajax/Whitby, have the discoveries in Ajax/Whitby (ie: at Durham reporting) and to have the trial there. This is an important question to ask. Some Toronto lawyers are quite willing to hold some meetings in Ajax/Whitby when necessary.

Ideally, you do not want a Toronto lawyer who thinks of themselves as a “big city lawyer”. Ajax/Whitby are still relatively small communities, and a lawyer may need to eat a “slice of humble pie” before getting up to address a jury made up of members of the community. You may well need to consider that and to consider how to strike a balance between the need for a firm with financial resources and a lawyer that a jury will listen to.

When you first speak with the lawyer, ask them whether they have cases in Ajax and Whitby. You should also ask them what types of cases they have handled (ie: car accident, slip and fall). Ask them to send you some decisions in cases that they have argued.