Legal Question in Real Estate Law in Pennsylvania

Article of agreement

I am considering a home purchase by an article of agreement and want to know what I should be aware of in terms of property taxes and home insurance

Asked on 4/10/07, 10:52 pm

1 Answer from Attorneys

Miriam Jacobson Law Offices of Miriam N. Jacobson

Re: Article of agreement

I don't know what an "Article of Agreement" is. I do not recommend any home or other real property purchase except by an agreement of purchase/sale, with title insurance and settlement services provided by a recognized title insurance company. At the settlement, the seller signs and delivers a deed transferring title to you, and you pay the purchase price and other adjustments and buyer's closing costs. You may also take a mortgage loan for part of the purchase price. The mortgage documents are signed at the same settlement.

You should consult a real estate attorney in the county where you are buying the home to assist you. This is a major investment for most people, and you should get legal representation to protect your interest in the home and your investment.

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Answered on 4/11/07, 10:42 am

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