Pay Attention to Details in Real Estate Transaction Documents

Through his firm, Treff & Lowy PLLC, attorney Joseph Treff provides legal counsel to individual corporate real estate investors. Joseph Treff represents clients who are pursuing complex development projects and/or structuring partnerships or joint ventures. He has specific expertise in drafting real estate transaction agreements.

According to the American Bar Association (ABA), technology has empowered attorneys to compile transactional documents and send them more quickly to the appropriate parties. However, the ABA cautions attorneys to do a thorough quality review of documents before sending them to recipients. Proofreading a transactional document can help attorneys avoid errors that may be detrimental to their clients. Attorneys should always double-check key facts, such as names of parties, dollar amounts, and time periods, to ensure accuracy.

In addition, attorneys should clearly mark all early versions of documents as “drafts” to indicate that they are not yet ready for signatures. During reviews of drafts, using the track changes function in word processing programs can spotlight proposed revisions. Often, parties may be clear about a transaction’s major points after discussion, but a transaction agreement document may provide the first opportunity for review of details. Careful attention to details can produce the results desired by both parties.

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