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Expert Advice on Buying a Home: An Interview with Sagar Parikh of Beverly Hills Law Corp., PC

By Sagar Parikh

Please tell us a little bit about your company and the services you offer.

Beverly Hills Law Corp., PC is a boutique law firm in Beverly Hills that helps clients in the areas of business, real estate, employment and entertainment law. We handle both litigation and transactional matters.

What are common things that you've seen go wrong during the purchase and sale process?

With regards to the purchase, buyers often neglect to have the purchase agreement and escrow instructions reviewed by an attorney. If it is a standard purchase agreement, then there is probably no need for this. However, if there are custom clauses added or any addendum to the escrow agreement, then these documents should be reviewed by a real estate attorney. It is easier for an attorney to catch problems before these agreements are executed than trying to assisting a buyer after the buyer has already entered the contract.

With the sale, the seller will sometimes neglect to make all of the required disclosures. This can lead to problems later on. A realtor and/or real estate lawyer should help the seller with this.

What are some of the main ways that a real estate lawyer can help when you're buying a home?

A real estate lawyer can help by advising the buyer as to any terms contained in the purchase agreement, escrow agreement and addendums. A real estate lawyer can also review all of these documents. A real estate lawyer can also help draft related documents if they are necessary, such as a seller financing agreement, wrap around mortgage agreement and leaseback agreement.

What is one of the biggest challenges for homeowners when it comes to closing?

Making sure the buyer has sufficient funds to pay for the property. Oftentimes escrow will fall apart because the buyer's loan does not get funded. A seller should be sure the buyer is preapproved before entering escrow.

How can a buyer help make sure the sale goes smoothly?

By being preapproved for a loan, having sufficient proof of funds, and making sure the buyer understands all of the terms of the documents they are signing.

What advice would you give to first-time home buyers?

Make sure you have a realtor and/or real estate lawyer by your side so you can have any questions or concerns answered, rather than guessing on what things in a contract might mean.

What's the best way for people to contact your company?

They may email me directly at SP@BeverlyHillsLawCorp.com, call us at 310-887-1338,

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