Why to Real Estate Agreements Have to Be in Writing?

November 27, 2024 • Estimated Reading Time: 3 minutes

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Real estate agreements must be in writing due to the Statute of Frauds, a legal principle that requires certain contracts to be documented to be enforceable. This law is crucial because real estate transactions often involve significant sums of money and complex terms. A written agreement provides clear evidence of the parties' intentions and the specifics of the deal, reducing the risk of misunderstandings or disputes. It ensures that all parties are on the same page regarding the property's sale terms, price, and any conditions that must be met. By requiring written documentation, the law protects both buyers and sellers, offering a reliable reference point if disagreements arise.