Take a look at my interview with Leanna Martens, a professional realtor, on how a real estate lawyer helps buyers and sellers. And if you’re buying or selling property in Alberta, please consider us at RMLO Law LLP
In real estate, as in all facets of life, things change. A detailed contract or written agreement can protect your investments, but you’re still vulnerable if you don’t follow the terms exactly. A client of mine organized a joint venture with 15 investors to buy an apartment building in Alberta. They used a written Joint Venture to structure the deal, but later changed some aspects with only verbal agreement. This Tale is about what happened when one of the investors passed away and lawyers for the deceased’s estate began insisting on the original terms of the Joint Venture.
It’s sad to say, but there are dishonest people out there. Some real estate buyers, sellers, lawyers, and realtors will try to pull the wool over your eyes. A classic trick unscrupulous people use is to slip a clause into a document or take one out without you noticing. Luckily you can protect yourself from this and keep them in check by making sure to read contracts thoroughly, as well as to reread them after every round of negotiation and/or amendments. Vigilance is a necessary aspect of due diligence.