All real estate sales contracts must be in writing to e enforceable per Ohio law. The writing can be on the back of a napkin or it can be a purpose-built multi-page document. You can guess which one causes less hair-pulling at closing. A good contract anticipates the most common sticking points and addresses head-on what happens when these contingencies occur. A good lawyer will draft the contract in anticipation of these possible problems.
A typical loan transaction involves over 100 pages of documents for the borrower to sell. Even the seller may have to sign 20+ pages of documents. It is important to have an experienced eye review all of them.
The most important aspect of any real estate transaction is prompt and open communication at all stages of the process. Without it, deals get stalled. We won't let that happen to you.
The bread-and-butter of a title company's work is the title commitment. This document, like a homeowner's insurance binder, commits the title company to issue a policy once the deal closes and the deed gets recorded. It also tells much more of a story about the deal than a homeowner's binder - it lists out what the title company requires to happen before issuing a policy and it lists all of the items it will not insure against. This document and its attachments is critical to review and investigate for potential problems.
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