When purchasing or selling a property, most Buyers and Sellers concern themselves with the financial aspect of the transaction and not the legal aspects of the transaction. A purchase and sale agreement creates a contract or promise to purchase or sell land. This contract or promise which legally obligates both parties to perform certain tasks must be in writing to conform to the Statute of Frauds. For the Seller this contract obligates the Seller to sell the property for a specific price, to provide a marketable title to the property, to assume the risk of loss and all taxes and insurance costs until the closing. An attorney reviewing the agreement for the Seller can advise the Seller to stipulate to certain spending limits on their exposure to title defects, repairs and in some cases closing costs. The Attorney could also advise the Seller to negotiate a different level of a deed other than a Warranty Deed if the Seller knows there is an issue with the title to the property. The Seller’s attorney will advocate in the Seller’s best interest…Read More
Rudman Winchell is a full service law firm serving the people, businesses and communities of Maine. With our vast legal resources and more than two dozen attorneys located in Bangor, we become a true strategic partner with the clients we serve.
Rudman • Winchell's Practice Groups
Individual • Family
Rudman Winchell attorneys provide expert guidance and on matters involving all aspects of Maine individual and family law including Divorce, Probate, Elder Law, Wills and Estate Planning.
Business • Corporate
Rudman Winchell business attorneys regularly represent clients in all aspects of business and corporate law.
Litigation • Trials
Rudman Winchell’s trial lawyers have extensive experience in both federal and state courts in a vast array of civil matters as well as criminal defense.
Municipal • Government Law
Rudman Winchell represents clients' interests in administrative and enforcement proceedings before government agencies and boards, including appeals.
Insurance • Workers Compensation
Rudman Winchell’s insurance law attorneys offer specialized representation to insurance companies and their insureds.
Real Estate • Property
Rudman Winchell has a broad Maine based real estate practice. Our real estate attorneys provide representation of banks and other lending institutions
Employment • Labor Law
Rudman Winchell’s experienced Employment and Labor attorneys advise clients on preventive strategies and positive solutions in Maine labor and workplace law.
Timberlands • Natural Resources
Rudman Winchell is located in the heart of Maine's industrial timberlands, and is a trusted partner of the timber industry and other natural resource based enterprises.
Healthcare • Hospitals
Rudman Winchell provides a comprehensive array of legal services to clients in the health care industry, throughout the state of Maine.
FROM THE ATTORNEY'S BLOG
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