How a Consumer Hired a Lawyer to Review a Purchase And Sale Agreement in Illinois
See real project results from ContractsCounsel's legal marketplace — this project was posted by a consumer in Illinois seeking help to review a Purchase And Sale Agreement. The client received 8 lawyer proposals with flat fee bids ranging from $375 to $2,250.
Review
Purchase And Sale Agreement
Illinois
Personal
-
Less than a week
$375 - $2,250 (Flat fee)
8 bids
80 pages
How much does it cost to Review a Purchase And Sale Agreement in Illinois?
For this project, the client received 8 proposals from lawyers to review a Purchase and Sale Agreement in Illinois, with flat fee bids ranging from $375 to $2,250 on a flat fee. Pricing may vary based on the complexity of the legal terms, the type of service requested, and the required turnaround time.Project Description
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Lawyers that Bid on this Purchase and Sale Agreement Project
Principal Attorney
16 years practicing
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Corporate & M&A | Venture Capital, Private Equity & Web3 Counsel | Real Estate Transactions
10 years practicing
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Business and Real Estate Attorney
38 years practicing
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10 years practicing
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Other Lawyers that Help with Illinois Projects
Other Lawyers that Help with Purchase and Sale Agreement Projects
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15 years practicing
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Partner
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Other Purchase And Sale Agreement Postings
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Purchase and Sale Agreement
Washington
Earnest money in a purchase and sale agreement?
I am in the process of buying a house and have been presented with a purchase and sale agreement. I am confused about the earnest money portion of the agreement and would like to understand what it means and how it will affect the transaction. I am particularly interested in knowing what happens to the earnest money if either party decides to back out of the agreement.
Merry K.
Good morning. I am a WA State attorney, and I have reviewed numerous purchase and sale agreements (PSA), and have bought and sold numerous pieces of property in WA and CO. You are wise to ask this question. Since you are the buyer, normally your buyer's real estate agent would prepare the PSA for you to use, after discussing with you. Since you said a PSA "was presented to you" I"m wondering whether you are buying a new home from a building contractor. In any event, the purpose to an earnest money payment is to hold the home for you and let the seller know you are interested. In most cases, however, the seller can keep your whole earnest money payment if you back out of a purchase for reasons that are not protected in the PSA. For example, if you write your offer contingent on your subjective approval of an inspection report, or write your offer contingent on obtaining financing at terms you approve of, either one of these terms can get you out of the contract and also have your earnest money returned to you. There should be language in the PSA that clearly states what happens to the earnest money and how much earnest money you are providing. I hope that that is helpful. If you continue to have questions, I urge you to have an attorney review any and all documents, including those for loans, prior to signing anything.
Purchase and Sale Agreement
Washington
Governing law in a purchase and sale agreement?
I am in the process of purchasing a business and have been presented with a Purchase and Sale Agreement. I am looking to better understand the governing law that would be applicable to this agreement, and any potential implications for the agreement. I am looking for advice on the law that would be applicable to this Purchase and Sale Agreement, and the potential implications for the agreement.
Merry K.
Good morning - I am a WA State attorney. The purchase and sale agreement should, itself, specify the governing law that would be applicable; if that term is not already part of the PSA you were presented, it should be added. If you are buying a business in WA, normally the PSA will say that WA law will apply, but if you are buying a franchise, it's possible that the PSA will say something like that law of Delaware may apply. Washington has good governing law for this type of agreement. I also suggest that you discuss any concerns with your buyer's agent, and possibly request a WA State attorney to review all the documents before you sign anything.