A sales contract is a contract where the seller commits to deliver the item to the buyer and to transfer its ownership and the buyer commits to pay the purchase price. The sales contract is concluded when the seller and the buyer agree on all the essential elements of the contract. A sales contract is probably one of the most common type of contracts, since individuals conclude them on a daily basis without the help of a contract lawyer. However, in some cases, a sales contract can be very complex, such as a real estate sales contract.
Such a sales contract requires a lot of formalities from the buyer and the seller, which is why it is recommended that a contract lawyer prepares it. This is not just about the contract details and clauses that need to be incorporated into the contract itself to minimize the risk of the client, but also to help with many formalities, without which such a contract may also be invalid. Such a detail is for instance the authentication of the seller’s signature, which may be done after all taxes have been paid. A real estate sale contract or any other sales contract is something that should be left to a contract lawyer in Slovenia.
A real estate sales contract is probably one of the most common and complex sales contracts. A sales contract for a property is almost always made with the help of a contract lawyer, with each party having its own. The reason lies not only in the drafting of the contract itself but also in the preparation. A buyer will conclude a real estate purchase agreement only after the contract lawyer has been able to inspect all the key documentation and public registers relating to the property itself and when he has given the green light that the conclusion is safe enough. The real estate sales contract will usually be prepared in advance by the seller, who will make sure that his rights will be protected in case of various breaches of the contract by the buyer.
Real estate sales contract
Once the real estate sale contract has already been concluded and no previous contract lawyer work and checking has been done, it may sometimes already be too late, since legal help and support in such cases is often no longer possible or is no longer effective. A real estate sales contract refers to different types of real estate. Thus, it can mean a house sales contract, an apartment sales contract, a land sales contract, etc. The real estate sales contract is deemed complete only when the seller has received payment and the buyer has achieved the transfer of ownership which is registered in the land register. Sometimes the transfer of ownership might not be possible due to pre-emptive rights of different subjects, such as the municipality pre-emptive right, etc. It is the job of the contract lawyer to check all these details in advance and obtain proper documentation.
House sale contract
A house sale contract is similar to other types of real estate sale contracts, but in practice may be even more complicated due to harder division of co-ownership and the possibility of a neighbor border dispute. Complications might also occur in connection with the fact that the house itself poses more risks than a piece of land, simply because it is more complex and there are greater possibilities something might be wrong or broken. A potential buyer should not only consult a contract lawyer, before buying a house, but also someone who is able to identify possible material house defects.
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