Selling your home puts you back in the world of Texas real property law, a unique and often tricky legal realm that involves practices and problems not seen in other transactions. Whenever a contract is introduced (even a standard agreement form) the terms and language should be explained to the seller, and revised whenever necessary. A lawyer can help you avoid some of the common problems with a sale, and also determine if any resulting agreement has been properly executed.
Sellers often sign brokerage agreements that do not address a number of legal problems. This happens because realtors typically use standard forms, believing they can cover all circumstances, or can be easily customized for unusual conflicts. A real estate lawyer has the experience and training to deal with these problems.
In most real estate transactions, the seller signs a brokerage contract with a realtor. When the agent identifies a potential buyer, they negotiate with them until one side walks away or an informal agreement is reached. Both parties then work to enter into a formal, written contract with a purchase and sale agreement. The buyer then seeks a commitment for financing, and the title is searched to confirm proper ownership.
At closing, the property is transferred from the seller to the buyer, and the seller receives the purchase price agreed to in the contract. This seems straightforward, but sales rarely reach closing without a hitch. With so many potential legal pitfalls, sellers are wise to arm themselves with the guidance and counsel of a real estate lawyer.