When negotiating your purchase and sale agreement, it is important to write and include in your contract everything agreed by the buyer and seller.
If there is a subsequent verbal agreement between the buyer and the seller, get it down in writing and include it in the main contract. For example, if the seller agrees to fix the roof prior to the closing, ensure to have this in writing.
Failure to do this can be very costly as it may be difficult to prove and enforce the verbal agreement later if the roof is not repaired.
You don’t want to end up in court trying to prove and enforce the verbal agreement as this is usually financially costly as well as time wasting.
It is always important to get everything down in writing! 📝
Do you have further questions regarding your purchase and sale agreement or need a review of your contract? Contact us today, we’ll be happy to help. Info@ibitoyelaw.com
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