Understand the Purchase Agreement Before You Sign
A real estate purchase agreement determines far more than the purchase price. It establishes deadlines, inspection rights, financing terms, title requirements, closing obligations, and consequences if either party fails to complete the transaction.
Heban, Murphree & Lewandowski, LLC helps Ohio buyers, sellers, investors, business owners, executors, and trustees understand those terms before a preventable contract problem becomes an expensive dispute.
What We Review in an Ohio Purchase Agreement
Our attorneys review the complete agreement, applicable addenda, disclosures, counteroffers, and transaction-specific documents. We look for unclear language, missing protections, conflicting deadlines, and provisions that may expose a buyer or seller to unnecessary risk.
Ohio contract requirements matter. Ohio’s statute of frauds generally requires an agreement involving the sale of real estate to be in writing and signed by the party against whom enforcement is sought. The agreement should also identify the property and state the material terms clearly enough that the parties’ obligations can be understood and enforced.
Ohio also continues to recognize statutory dower rights. Even when only one spouse is listed as the property owner, the other spouse may have an interest that must be considered and properly released as part of the transaction.
Purchase Agreement Review for Ohio Buyers and Sellers
For Buyers
A buyer’s review should focus on whether the agreement provides enough time and authority to investigate the property before the buyer becomes obligated to close.
We review financing, appraisal, inspection, title, survey, zoning, environmental, insurance, and due diligence provisions, along with the buyer’s ability to terminate or renegotiate when a problem is discovered.
For Sellers
A seller’s review should clarify exactly what the seller must provide, repair, disclose, or complete before closing.
We also examine the buyer’s contingencies, earnest money obligations, closing deadlines, default remedies, possession terms, and circumstances under which the buyer may cancel the transaction.
Residential and Commercial Purchase Agreements
Residential purchase agreements commonly address financing, appraisals, inspections, residential property disclosures, fixtures, possession, and the return or forfeiture of earnest money.
Commercial transactions often require a longer and more customized due diligence process. The agreement may need to address zoning, permitted use, environmental reports, leases, tenant records, operating expenses, surveys, access, utilities, financing, entity authority, and the assignment of contracts or licenses.
HML Law reviews both standard-form and customized agreements. We can explain the proposed terms, identify provisions that require attention, and help negotiate appropriate revisions.
Purchase Agreements Involving Probate
A purchase agreement involving estate property may require more than an ordinary real estate review. Before committing to a closing date, the parties should determine who has legal authority to sell, whether an Ohio probate estate must be opened, whether the will grants a power of sale, whether court approval is required, and whether title can be transferred as anticipated.
Probate property sales can require additional authority, notices, approvals, consents, or court proceedings depending on how the property is titled, the terms of the will, the fiduciary’s authority, and the requirements of the probate court.
Ohio’s residential property disclosure statute contains several exemptions that can apply in estate-related transactions. The agreement and closing documents should identify the applicable exemption rather than assume that every inherited property sale is treated the same way.
HML Law Can Review Provisions Addressing:
Working With Your Real Estate Agent, Broker, and Title Company
Real estate agents, brokers, lenders, inspectors, surveyors, and title professionals each play an important role in a transaction. An attorney provides a different service: evaluating legal rights, obligations, risks, remedies, authority, and contract language.
HML Law regularly works alongside real estate professionals when a transaction involves unusual terms, estate property, deed problems, title defects, commercial due diligence, ownership disputes, or other legal concerns.
Bringing an attorney into the transaction does not replace the real estate agent or title company. It gives the client legal advice focused on the contract and the client’s individual interests.
Common Purchase Agreement Problems We Identify
Unclear Deadlines
Inspection, financing, appraisal, title, and closing deadlines should be specific and internally consistent.
Weak Contingencies
A contingency should explain the condition, applicable deadline, required notice, and what happens if it is not satisfied.
Earnest Money Disputes
The agreement should identify where the deposit will be held and when it may be refunded, released, or forfeited.
Title and Ownership Problems
Liens, easements, deed restrictions, probate interests, marital rights, trusts, and unresolved ownership interests can affect title.
Missing Property Terms
The agreement should clarify whether appliances, fixtures, equipment, leases, warranties, permits, and other items are included.
Informal Side Agreements
Repair promises, credits, possession arrangements, and negotiated terms should be documented in writing.
How Our Purchase Agreement Review Process Works
Send the Agreement
Provide the proposed contract, addenda, disclosures, and related documents.
Explain the Transaction
Tell us your role, concerns, and any important signing or closing deadlines.
We Review the Terms
An attorney evaluates the agreement and transaction-specific legal concerns.
We Explain Your Options
We discuss the language, possible revisions, negotiations, and due diligence.
Finalize the Agreement
When appropriate, we assist with revisions, addenda, deeds, or probate documents.
Why Choose HML Law?
With over 100 years of combined legal experience, HML Law assists clients throughout the Toledo area, Northwest Ohio, and across Ohio with real estate, probate, estate, deed, title, and contract matters.
That overlap is particularly valuable when an apparently straightforward property transaction involves an estate, trust, deceased owner, fiduciary, inherited interest, disputed title, or last-minute deed problem.
Frequently Asked Questions About Ohio Purchase Agreements
Should I have an attorney review a purchase agreement before signing?
Whenever possible, yes. Once an offer is accepted, the agreement may become binding subject to its contingencies and termination rights. Reviewing the contract before signing generally provides more opportunity to identify risks and negotiate changes.
Can an attorney review a standard Realtor purchase agreement?
Yes. A standard form can still contain important choices, deadlines, contingencies, addenda, and transaction-specific terms. An attorney can explain how those provisions affect your purchase or sale.
What documents should I send for review?
Send the complete agreement, addenda, counteroffers, property disclosures, inspection materials, title documents, surveys, leases, and any written promises or concerns related to the transaction.
Can HML review residential and commercial agreements?
Yes. HML Law reviews agreements involving homes, rental properties, vacant land, investment property, offices, retail space, industrial property, and other commercial real estate.
Can HML help when the seller is an estate or trust?
Yes. Estate and trust transactions may involve fiduciary authority, probate proceedings, specialized deeds, disclosure exemptions, court approval, beneficiary concerns, and additional closing requirements.
What if I have already signed the agreement?
Contact an attorney promptly. Your options will depend on the contract language, applicable contingencies, notice requirements, deadlines, disclosures, and the specific problem that has arisen.
Real Estate and Probate Resources
Have an Ohio Purchase Agreement Reviewed Before You Sign
HML Law helps buyers, sellers, investors, business owners, executors, trustees, and property owners understand their obligations before a preventable contract problem becomes a costly dispute.
This page provides general information and does not create an attorney-client relationship. The appropriate legal review depends on the agreement, property, parties, deadlines, and facts of the transaction.