A purchase and sale agreement (PSA) forms the basis of a real estate transaction. It embodies the agreement that is reached between all involved and it sets out the obligations of all parties. Properly preparing a PSA, and fully understanding all of its contents is important to ensuring that transactions do not become overly complicated and to avoiding future litigation. Retaining an experienced attorney to assist with the preparation or review of a PSA is an important step in any real estate deal. Vivid Niroula is an OKC real estate lawyer who assists with purchase and sale agreements for both buyers and sellers. Vivid examines every detail in each matter he handles. Contact us online or by telephone to schedule an initial consultation.
Real estate attorney negotiating, drafting, & reviewing, PSAs in Oklahoma
A purchase and sale agreement spells out the obligations and responsibilities of all parties involved in a real estate transaction. It states when the transaction is to be closed, the amount of the sale, what improvements (if any) are to be made in advance or after the fact, contingencies (such as zoning variances) which must occur before the deal can be completed, and more. A PSA that is poorly drafted, or which omits important information, can result in the deal being delayed or in the transaction falling through altogether. Worse is the fact that omissions in the PSA can result in lengthy and expensive litigation between all parties involved. This is especially true in matters involving distressed properties. The best way to avoid these types of issues is to have a properly prepared PSA which foresees various possibilities and contingencies while properly addressing their handling.
Vivid Niroula is an Oklahoma real estate attorney who assists with negotiating, drafting, and reviewing PSAs associated with commercial transactions. Vivid will use your initial consultation to gain an understanding of your overall goals and to begin reviewing any relevant documents. If the deal has not yet been agreed upon then Vivid will negotiate the terms of the PSA on your behalf. He will properly draft the agreement in a way that clearly addresses issues such as the purchase price, deposits and earnest money, timelines and dates certain, contingencies (such as those related to zoning and permitting), the conditions for closing, and clear remedies in the event that the deal falls through. If the other party is drafting the agreement, then Vivid will carefully review and redline any necessary sections. Once the agreement has been signed, then our attorney will keep himself available to help ensure that the transaction is completed smoothly. We are honored to serve the local community and this high level of service is our promise in each and every matter we handle.
In addition to Oklahoma City, we also assist individuals in Edmond, Norman, Mustang, Nichols Hills, Yukon, El Reno, Shawnee, Chandler, Stillwater, and throughout the rest of the state.
OKC lawyer assisting with all aspects of a real estate transaction
Our lawyer understands that the number of situations which can arise in a commercial real estate transaction are vast. This is why Vivid provides ongoing assistance with amendments and addendums to a PSA, ensures that the timelines for due diligence and financing are being met, and that closing is not delayed without good reason. He will work with all parties involved to resolve any issues. As part of this service, we assist with all aspects of the transaction, including negotiating commercial real estate sales, following through on due diligence during a transaction, managing financing, and more.
