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Many buyers and sellers of real estate make the common mistake of hiring a lawyer to review their Agreement of Sale – after they have signed it. The time to seek legal advice is at the time of the negotiation of the Agreement of Sale is being negotiated, not after it is signed. The Agreement of Sale establishes the majority of the legal rights between a buyer and seller of real estate, and since every parcel of real estate in the world is unique, there are important provisions of every Agreement of Sale that should be negotiated, regardless of the size of the transaction. Another common mistake in real estate transactions is to assume that there are “standard forms” of agreement which have to be used. While it is true that there are commonly accepted terms and provisions which should be addressed in all real estate contracts, each agreement should be tailored to the unique characteristics of the property and unique circumstances of the parties. An experienced real estate attorney can efficiently draft contract provisions to address the specific needs of each transaction and actually speed up the contract process. Daniel O’Connell is an experienced real estate attorney. For over 30 years Mr. O’Connell has represented both buyers and sellers of real estate in all types of transactions ranging from “handyman special” starter homes to complex portfolios of multi-national real estate syndication firms. Mr. O’Connell has managed shopping centers and apartment complexes for real estate limited partnerships, and negotiated precisely timed sales and difficult financing for clients in rapidly declining real estate markets. With his experience in the suburban Philadelphia real estate market, Mr. O’Connell sees each real estate transaction as a unique opportunity to create value and meet the needs of his client.
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