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purchase and sales contract

Understanding A Purchase and Sales Contract: What it is and How binding it is

One of the most important documents you need when trying to buy a piece of real estate is the purchase and sale contract. It is a document that can serve different purposes to the seller and buyer alike and sets the pace to close the transaction.

However, there are a lot of bad contracts out there. And most times, it would take a good understanding of what a purchase and sales contract is to tell the difference between the good and bad. But, it is not enough to just be able to tell the difference. You should be able to know exactly what you agree to and what is expected of you to acquire your desired piece of real estate.

This is the reason this article is worth reading. Now, let’s start from the very top.

 

WHAT IS A REAL ESTATE PURCHASE AND SALES CONTRACT?

A real estate purchase and sales contract can simply be referred to as the document that removes ambiguity or brings clarity to the buying and selling of real estate. To further explain, it is a document that contains the expectation of both parties involved in the transaction.

A real estate purchase and sales contract spells out the transaction details and the responsibility of both parties during the transaction. This means that the primary use of this contract is to facilitate the buying and selling of real estate but it is not an indication that the transaction is complete.

Are you wondering why?

It’s because you are entitled to another document once the purchase process is complete. The document you get after you close the deal is called The Purchase Agreement. It is quite different from the purchase and sales contract as earlier stated. A purchase agreement only carries the information that certifies that you now own the property.

So, the quickest way to understand this and tell both documents apart is this: a real estate purchase and sales contract provide guidelines and open up negotiations while a purchase agreement serves as proof that the buyer has successfully purchased the property from the seller.

However, this brings one important question to mind: how binding are real estate purchase and sales contracts?

 

HOW BINDING IS THE PURCHASE AND SALES CONTRACT?

The real estate purchase and sales contract is a legally binding agreement, just as much as any contract you know. How so? You may want to know. Since signing it doesn’t mean you have acquired the property just yet.

True, that is the case, but it is legally binding because it can be used as a reference if one party is not upholding their end of the deal. In a real estate purchase and sales contract, there are terms and conditions which have legal implications once they are violated.

 

HOW THE REAL ESTATE PURCHASE AND SALES CONTRACT WORKS

A real estate purchase and sales contract becomes activated when the parties involved sign it. At the moment it is signed, it represents the commitment of the buyer and seller to complete the transaction. And usually, there are cancellation penalties when either of them defaults. 

To avoid these penalties, both parties are expected to negotiate to agree on favourable terms and conditions that would form the basis for the sale of the property. With these requirements penned down the participants in the agreement are guided throughout the transaction.

The point of having a contract is to be able to layout specific requirements and acceptable methods that facilitate the sale of the property. During the period of negotiation, both parties decide on how to deal with everything in the purchase process, from financing to the transfer of ownership.

 

WHAT YOU FIND IN A REAL ESTATE PURCHASE AND SALES CONTRACT

  1. Participants in the agreement

This is usually the first information you find in a real estate purchase and sales contract. The parties involved in the purchase process are generally identified before every other detail follows. This part of the contract specifies who the buyer is and who the seller is, and also goes further to give a brief description of who both parties are.

However, it is possible to have multiple persons playing as the buyer or seller. In this case, every person

representing the buying or selling party, whichever the case may be must have their signatures on the contract to show their agreement.

  1. Purchase and sale agreement

This part gives the document its name. The purchase and sale agreement section is the most important part of the real estate purchase and sales contract.

In this section, you’ll find a lot of legal terms that spell out who does what, at what time, where and how it would be done. This is also where the relevant rights are laid out so both parties are aware and on the same page as to what would happen.

This provision in the contract is set to achieve three things:

  • Inform both parties about their responsibilities and their rights.
  • Bring both participants peace of mind, and
  • Guarantee the commitment of both participants.
  1. Restriction clauses

Restriction clauses in the real estate purchase and sales contract is used to create and set boundaries to the provisions we mentioned earlier.

These restrictions will prohibit involved participants from going beyond the signed contract. And the violation of these rules would of course attract some legal consequences.

  1. Completion

This part informs what would happen once the purchase process is complete. It contains information such as other documents the buyer is expected to receive; also further actions the buyer is expected to perform to officially finalize the transaction.

Now that you have an idea of what a real estate purchase and sales contract should look like, how do you write one to facilitate the sales of your property?

 

HOW TO WRITE A REAL ESTATE PURCHASE AND SALES CONTRACT

The first step is to define the following:

  1. The address of the property to be purchased, as well as all required legal descriptions.
  2. The buyers’ names and addresses.
  3. The property’s price and the terms of the purchase.
  4. The closing date and costs.

With this information on hand, you can get a contract template online to follow, tweaking it a little to suit your purpose. But this is just one stressful way to go about it which may lead to future complications unless you have a property lawyer that would go through it after you are done.

But let’s show you a better way! The better way is to have a property lawyer draft the purchase and sales contract for you. Why? Because they are the expert in this field plus their services will save you a lot of complications in future.

But still, there is a more remarkable way to get this done.

How would you like to have a professional real estate purchase and sales contract made and at the same have your property sold? Yes, it’s possible.

Alexander Nelson Consulting is a real estate marketing company that can provide you with such a service; that dual package. We have an in-house legal team that will take care of the contract and our clients benefit from our various marketing platforms where we can have your property sold.

 

CONCLUSION

One thing worse than a lack of contract is a badly worded one. So you see why it is important to have the professionals in on this.

The purpose and significance of having a real estate purchase and sales contract is to make the intentions of the involved parties clearer. This is one goal that following the golden rules of advertising gives no result and effective sales techniques will come up short in helping a seller accomplish his sale.

Email: enquiries@alexandernelson.com

 

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personal brand

3 Strong Reasons to Sell Your Personal Brand as a Real Estate Business

Creating a personal brand for your real estate business may seem like a very simple thing, but do you know that it can be your most powerful asset that could change your sales results?

Think of organizations that have now become household names. How do you think they were able to achieve such publicity? Let’s face it! It wasn’t because they had the catchiest names or the best real estate marketing strategy. It was because they created a personal brand that’s relatable to the minds of their target customers.

In creating such brand personality for their businesses, they were able to get people to understand who they are, what they offer and the value they provide.

Now it is your turn! Let’s learn how you can define your brand.

 

DEFINING YOUR PERSONAL BRAND

As stated earlier, selecting a catchy name for your real estate business is not the primary aspect of personal branding. Though your business name distinguishes you from other real estate businesses, it will not do much to improve your sales unless a distinct quality service or product is on offer. But this is not to say that you shouldn’t be succinct when naming your business.

To define your personal brand, there are four things you need to figure out before you can brand yourself right and create the identity people want to get behind.

–         Brand Statement

–         Brand Values

–         Brand Attributes

–         Brand Aesthetics

 

BRAND STATEMENT

A brand statement is among the first things you need to figure out to rightly brand your real estate business. Brand statements are short descriptive sentences that explain what you do and highlight what makes your company unique. Usually, a sentence or at most three sentences, a brand statement summarizes your expertise, mission, passion and promise to potential clients.

But here is the reason you should have one. An accurate and memorable brand statement is the best way to relate what you do to people without boring them with the details. It is also the commitment you wish to communicate to your customers and the target market as a whole.

Perhaps, you have one now that doesn’t quite capture your unique selling points? Not to worry, you can tweak it to have them included since you need them to differentiate your value proposition from that of your competitors. No rule states that your personal brand statement cannot be changed. However, organizations only change or tweak their brand statements when the existing one doesn’t describe or communicate their business focus as they grow.

 

BRAND VALUES

It is advisable to figure out your brand values before you craft your brand statement. This implies that you’ll have it easier crafting a relatable brand statement if you already know the value you would offer.

For example, Alexander Nelson Consulting is a niche marketing and sales company in Nigeria, and we cater to real estate businesses, real estate investors, real estate agents and professionals alone, thus, our unique value propositions are these:

– We offer creative solutions to real estate businesses to enable them to achieve their set goals, and

– We match and connect home buyers/investors to suitable properties making the sales and purchase faster and a less-daunting experience.

These statements immediately clarify and communicate the benefits customers stand to gain when they choose to do business with us.

Another aspect of personal brand values you need to define is your core values. What are the guiding principles that drive your business? Customers are very keen on that information. This is because your cores values inspire the trust and loyalty you need to ensure your business’s success.

So think about how you carry out your business operations and the value you offer while doing so and begin to articulate it to form your brand values.

 

BRAND ATTRIBUTES

Your brand attributes form a part of your personal brand identity. They are qualities or characteristics that define your real estate business as a whole irrespective of what you do or sell. It also hints at your overall personality as an organization.

To identify your brand attributes, you need to look at your business as a person. Then, write down how you would describe it, with at most five different adjectives.

With this exercise, you will be able to discover your brand personality, decide and set the tone and voice for your company.

 

BRAND AESTHETICS

If we say that brand attributes project the personality of your company, then it is safe to say that brand aesthetics emphasize it. That is why the visual representation of your company is important. It demonstrates and establishes your brand personality, tone and voice.

Brand aesthetics begins with choosing the right colour or colour combinations but it doesn’t stop there. It also covers your graphics designs, your logo and its shape, your brand text and other elements that are crucial to identifying your business when communicating a message.

If your brand look expresses your company’s personality just right, you would be able to make a remarkable impression on your target audience. And when you do, you become memorable. Then, your customers will be able to tell your brand from a distance with just these brand elements even without them seeing your business name.

Having all of these figured out would help you create a personal brand identity that sells.

 

REASONS TO SELL YOUR BRAND

1. To stand out from the crowd

The first reason to sell your personal brand is to stand out from the crowd: differentiate yourself from your competitors.

Once you have successfully created a likeable and relatable identity, your customers and the market as a whole would be able to recognize your real estate business. They would be able to see your business as a distinguished brand that provides several quality services or products for their use.

2. To inspire trust, customer loyalty and build credibility

When you sell your personal brand as a real estate business, people trust the solutions you provide. You become a to-go expert when they need such services or products that you offer.

With more customers comes the word of mouth marketing that will build you a sterling reputation and good credibility in the real estate business.

3. Brings Focus to Your Business

Selling your personal brand brings focus to your real estate business. It helps you reorganize your priorities and ensure you are reaching the right people.

Paying attention to your core offering as a real estate business will establish your authority in the field and emphasize your value proposition.

 

CONCLUSION 

In summary, you need to be authentic and consistent with branding if you want your real estate business to become a household name: not just a household name, but one that delivers on its promise.

Branding your real estate business may seem like a simple thing, but you know that it can be more complex than it looks. But, the good thing is that when done right it can improve your sales results.

At Alexander Nelson Consulting, we offer brand consultancy services that would assist you in creating a unique and impressive brand identity for your real estate businesses. We also provide other marketing services that would help you increase your brand awareness among your target audience.

What are you waiting for? Now it is your turn to define your brand.

 

Email: enquiries@alexandernelsonconsulting

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sales and marketing advisory services

5 Convincing Signs You Need Sales and Marketing Advisory Services for Your Real Estate Business

In today’s fast-changing and competitive real estate market, you need some form of expertise to tip the scales in your favour. Now more than ever, it is crucial to be well-positioned to take advantage of every opportunity to increase sales and attract new businesses. This is the edge that sales and marketing advisory services provide. It helps you position your business to achieve higher prospects and maximizes your returns.

Do you wish to know how to get your business on the right track to accomplish your set goals in this demanding market environment? Let’s start from the very top.

What are Sales and Marketing Advisory Services?

Sales and marketing advisory services are helpful recommendations given by experienced sales and marketing consultants to support your business in achieving growth goals.

These services enable you to make decisions that would impact the development and growth of your business positively. The advisory services that span the entire sales and marketing process are what points you in the right direction.  

Why does Sales and Marketing Advisory Services Matter?

Sales and marketing advisory services help you identify winning strategies to move your business forward. Professional advice from an expert can give you valuable insights to improve your business and provide objective answers to pertinent questions you may have.

There are several other benefits of sales and marketing advisory services. With such expert advice, you can develop techniques and tactics to deliver projects on time and within budget, plus get the guidance and moral support needed to undertake a project. Also, sales and marketing advisory services expose the different perspectives in marketing and sales ideal for your business.

Signs You Need Sales and Marketing Advisory Services

Getting expert advice to scale your real estate business can happen at any time. It could be when you are just starting or at the moment you wish to expand your market reach. But, usually, your need for advisory services may not follow these timelines. So, the question is, how do you tell when you need assistance to get your business where it ought to be.

Here are five (5) signs that show you need sales and marketing advisory services.

  1. Lack of Structural Approach

A process-oriented approach is what sets you apart from your competitors. There may be times when finding the next profitable opportunity is not the issue, but the method of delivery. At those times, you need sales and marketing advisory services – you need expert advice.

Having a structured approach gives you the “divide and win” strategy where every project is broken down into several smaller modules and is easily completed. This approach births consistency which your valued clients can trust.

  1. Growth strategy and Planning

Your need to grow and expand your business reach is another indication you need sales and marketing advisory services. Experienced sales and marketing consultants have a proven track record of implementing time-tested processes that can guarantee your business growth.

To achieve your growth goals, first, they help you develop an effective sales and marketing strategy. Next, they assist you to deliver better results through mentorship and their resourceful network.

  1. Coaching

Do you perhaps require training to reach your goals faster? Sales and marketing professionals can provide you with expert guidance at every step.

With sales and marketing advisory services, you can get the knowledge and appropriate tools you need to set yourself up for success in the demanding market environment.

  1. Scale-up Support

Sales and marketing advisory services give you the support you need to scale your business. It exposes areas where it is necessary to take action to improve your sales and marketing.

Drawing from a range of experience across different markets, sales and marketing consultants help you identify gaps in your strategies that need to be fine-tuned and various opportunities available.

  1. Product-Market Fit Analysis

If you need to determine how suitable your product is for the market, it is essential to get a product-market fit analysis from the experts. You can get a detailed market analysis to match the right services/products to the right prospects.

Sales and marketing advisory services gives you access to the information that can go a long way to create demand for your offers and ensure rapid business growth.

Also, it can help you discover and determine how to reach the right customers using the best sales channels.

Find a Trusted Advisor and Maximize Your Returns

Now that you understand the benefits of sales and marketing advisory services and signs to tell when you need them, finding a trusted advisor to guide you in your sales and marketing process is all you need to make a world of difference.

At Alexander Nelson Consulting, we share our expertise to build you a roadmap to grow your real estate business. We help you develop productive strategies and action plans to grow your business. Also, we give you suitable recommendations that drive better results. Let’s help you improve your bottom-line and customer satisfaction.

Phone number: +234 904 000 6627, +234 904 000 6628

Email: info@jamescubittfm.com

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ANC RETREAT

ANC Retreat: Our Wonderful Moments At Ilashe Private Beach

Yay! We had our first annual retreat last year on December 11, 2020. It was an exciting time for everyone represented at the company. We had lots of fun and experienced wonderful moments at Ilashe private beach. Our gathering was one of its kind.

Alexander Nelson Consulting is an advisory, sales and  marketing company that offers bespoke real estate business solutions. We had our business launch at mid-year 2020, and we were anticipating the retreat. As the Covid-19 pandemic ushered a new era in the work environment, we embraced the new normal of operating virtually.

Honestly, we thought we would have to resort to having our retreat virtually too. But an adjustment to the restrictions on social gatherings made it possible. Our management spared no expense in making the anticipated event worthwhile.

ANC RETREAT

How We Started The Retreat

The retreat began with a boat ride to the beach. As the boats glided out of the harbour and bobbed onwards, the sea was a captivating sight. It was quite mesmerizing.

On arrival, the program was in full swing. We prayed and sang, giving thanks to God for a successful year no matter how challenging it was, then we had our first delicious meal with flavoured selections from the drink stand.

Soon after, we were engaged in various fun activities from tennis to swimming, horse riding to dancing and several other activities keeping ourselves entertained.

ANC RETREAT

It was a sight to behold as our director, Mr. Sesan Olukoya joined in the fun party. We had lunch, another sumptuous meal, and we all went back to having more fun.

Some photographers captured our beautiful and thrilling moments as we made memories. We had a question game, and there was a tie among four staff members. There was a dance competition to break the tie, and the best dancer went home with the prize.

As the retreat came to a close, we had dinner while enjoying chit chat among ourselves.

ANC RETREAT

How We Ended The Retreat

Our director formally appreciated the efforts of the staff members during the year. He mentioned he had more expectations next year and he was looking forward to our cooperation to achieve them all. We were all smiles recounting our beautiful moments as we took a boat ride back to shore to our different destinations.

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