Real estate market experiences ups and downs, but regardless of where we are, we always have an astonishing number of residential real estate transactions every month. It is always recommended to hire a realtor to assit buyers and sellers, as they are the experts in this area and will be able to aggregate value with important insites about the property and location.
However, when buyers and sellers are confident enough to deal between themselves directly, a legal professional could draft a private contract of purchase and sale of residential real estate for them for a flat fee. Private real estate contracts allow sellers and buyers to complete a deal without having to go through a real estate brokerage.
What Are Private Contracts of Real Estate?
Private contracts are used to transfer real estate title between two parties. That is when parties have come to an agreement without using a realtor and would like to make it official without paying commissions.
With a private contract, you can sell / buy real estate without paying commission to anyone. The contract is binding if it is signed by everyone, dated, and has any monetary deposit. Private contracts are great when both parties have already agreed to all the terms, and / or they know each other.
If you choose to do a private purchase / sale, we recommend working with a legal professional, such as a notary public. For a flat fee, Zancope Notary can prepare the contract / offer for the buyer to send to the seller. Our service will simplify the process of a private sale and help both parties save on commissions that are charged by realtors.
Our team at Zancope Notary has decades of experience assisting buyers and sellers with legal matters. We pride ourselves on taking care of our clients and providing them with the most helpful information for their needs.
At Zancope Notary Public, our specialties are Wills and Estate Planning documents (Representation Agreement and Power of Attorney) and real estate. We are a full-service firm with two notaries full time at the office. We also offer real estate services for clients in Langley and throughout Greater Vancouver and the Fraser Valley. We can help you with buying, selling, and refinancing real estate, and provide family property transfers and independent legal advice.
If you have any questions about this article or estate planning, in general, or if you want to make an appointment with Zancope Notary Public, please contact us at (604) 260-6783.
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