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Don’t Real Estate Purchases Just Use Standard Form Contracts?

August 18, 2015 by Marc Jacob

A “standard form contract” is really just a contract like any other. It is drafted for the benefit of the client who hired the lawyer to draft the contract. Buyers and Sellers should therefore be very concerned that the terms in the contract were not written for their benefit.

Who was the contract written for?
Who was the contract written for?

For example, most of standard form residential contracts we see are drafted for a local, private, association of real estate brokers and agents. The lawyer(s) who drafted those contracts did so on behalf of that association to help its members facilitate home sales in the most efficient manner possible. The drafting lawyers may not have been not very interested in giving the Buyer (or Seller) the protections that Buyer (or Seller) would want to have in a fully negotiated agreement.

This leaves Buyers and Sellers in danger. They often think they are protected because a contract is called “standard” and many people use it. But without modifications to that contract based on the specifics of their deal, the protections Buyers and Sellers want are probably not in that “standard” contract.

If you would like our office to review your contract or draft a custom one, please contact us at 314.862.2237 or email at mjacob@marcjacobesq.com

Filed Under: Real Estate

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Recent Posts

  • GUEST BLOGGER: Organizing Your Home Buying and Selling Paperwork: Tips for a Smooth Process
  • What Should I Do After I Purchase a Property at a Tax Sale in Missouri?
  • What are the Five Most Common Questions We Get Asked About Quiet Title Suits?
  • Tax Sales & Title Issues in St. Louis County
  • GUEST BLOGGER: Retirees Looking To Homestead Can Use These Tips For Buying A Property

Categories

  • Business Law
  • Quiet Title Suits and Tax Sales
  • Real Estate
  • Tax Sales and Quiet Title
  • Uncategorized

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  • Home
  • About Us
    • Mission Statement
    • Marc Jacob
    • Jace Brotherton
    • Firm News
  • Real Estate
    • Real Estate
    • Commercial LL – Tenant Law
    • Lawyer to Buy A House?
    • Motel/Hotel Purchases and Sales
  • Business Law
    • BOI Filing
    • Business Law
    • General Counsel
  • Not-For-Profit
  • Law Blog
    • Law Blog
    • Legal Resources
  • Contact Us