Real Estate Contract Law

Real estate contract law governs agreements related to buying or renting residential properties. These contracts outline the rights and obligations of both buyers (or tenants) and sellers (or landlords). Key elements include the property description, sale price, payment terms, and timelines for closing or moving in. To be enforceable, contracts must be in writing, signed by both parties, and include essential terms. If a party doesn't fulfill their obligations, the other may seek legal remedies, such as damages or specific performance. Understanding these laws helps protect interests and ensures smooth transactions in residential real estate.