The Attorney Approval Process of a Real Estate Transaction
Are you going through a real estate transaction and want to know about the attorney approval process? Check out this educational video by Buffalo Real Estate Lawyer Richard H. Cole to learn more. If you have questions about your real estate purchase or sale, contact us to schedule a consultation with an experienced real estate lawyer.
- One can enter into a contract before attorneys ever see it. The Erie County Bar Association contract, which is widely used in Western New York, allows attorneys three business days to review and approve a contract after they receive it.
- The essential point is that, within the allotted time, an attorney can either approve the contract, conditionally approve the contract (if there is a need for clarification or an item that was left blank by mistake), or disapprove the contract.
- If the attorney disapproves the contract, the transaction is over, but if the attorney approves the contract conditionally, the parties can meet and work through the conditions until they are resolved and the contract has an unconditional approval.