Real Estate Law

Have Real Estate Law Questions? Ask a Real Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Real Estate Law
This answer was rated:

RE: Selling Lot of land in Ohio to Utility Company. I

utility company third party agent...
RE: Selling Lot of land in Ohio to Utility Company. I utility company third party agent negotiated a sale price for a lot I own. I thought I would simply sign a deed and get my payment. Next thing I get is some document to sign from the utility company that says, "OPTION for the sale of Real Estate." The option is 6-months and can be extended for another four months. Does this sound reasonable? Possible 10 months for me to just hang out and wait for them to do their due diligence and contingent upon receiving approval of the location by state electric board. Does this sound normal? FYI: The price they offered, after hard negotiations, is probably over fair market value.
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 2 hours by:
9/6/2017
Damien Bosco
Damien Bosco, Attorney
Category: Real Estate Law
Satisfied Customers: 3,129
Experience: Helping you with your legal questions.
Verified

Hello: My name is ***** ***** I am an attorney. Please give me a moment to review your question. I may ask some questions to clarify issues.

Ask Your Own Real Estate Law Question

It is not unusual. However, you should be paid for giving an option to purchase. An option is not a final sale. Are you receiving money to sign the option? In other words, you are holding back from selling the property to another person, so you should be paid to do so. And if the option is exercised you would receive the full sales price. If you want to discuss further, let me know.

Ask Your Own Real Estate Law Question
Customer reply replied 3 months ago
I'm giving up option to sell to others for 6 months with power company offering $5k earnest but entire earnest is refundable if for any reason they choose not to buy lot with numerous contingencies like land testing, utilities board approval etc. Let's say purchase price is $50,000 for the lot of land. What % or amount is normal as non refundable deposit? I believe utility company also has 4 month extension option. From how contract reads I could even up with $0 after 10 months if they back out...seem fair? I'll push back if necessary

These deals are negotiable. The option price is usually nonrefundable even if the other side pulls out. That's the whole purpose of giving an option. We can discuss more if necessary.

Ask Your Own Real Estate Law Question

Hello. I have not heard back you. Are you still looking for help on your question? If so, please let me know. Thank you.

Ask Your Own Real Estate Law Question

Hello: I am following up to see if you still need further help. If so, please let me know. If you are satisfied with your answer, please provide a positive rating between 3 and 5 stars so you can pay me for the service I provided to you. Best regards.

Damien Bosco
Damien Bosco, Attorney
Category: Real Estate Law
Satisfied Customers: 3,129
Experience: Helping you with your legal questions.
Verified
Damien Bosco and 87 other Real Estate Law Specialists are ready to help you
Ask your own question now
Ask Damien Bosco Your Own Question
Damien Bosco
Damien Bosco
Damien Bosco, Attorney
Category: Real Estate Law
Satisfied Customers: 3,129
3,129 Satisfied Customers
Experience: Helping you with your legal questions.

Damien Bosco is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

11,052 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,763 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,532 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,918 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
The rest of my question is a real estate agent listed the
the rest of my question is a real estate agent listed the home. The listing expired in june. The owner has requested in writing that the active status is taken out of the MLS as owner has signed with … read more
Ray
Ray
Lawyer
Doctoral Degree
7,532 satisfied customers
When it comes to profitability on Real Estate, I'd like to
When it comes to profitability on Real Estate, I'd like to know what is the profitability coefficient (like how many % of the full price of the property I can charge as rent in case I decide to rent i… read more
WiseOwl58
WiseOwl58
JD Honors Graduate
3,624 satisfied customers
Real-estate for condo in Jalisco mexico Looking for
Real-estate for condo in Jalisco mexicoLooking for strategies to mitigate attempts by developer to repossess condos in My possession after purchase and completed all payments of sale . pending conveya… read more
WiseOwl58
WiseOwl58
JD Honors Graduate
3,624 satisfied customers
Looking for a real estate attorney in sonoma county, that
looking for a real estate attorney in sonoma county, that can review a case that I have against well's Fargo Bank for fraud & predatory loans. … read more
N Cal Atty
N Cal Atty
Doctoral Degree
59 satisfied customers
I need a real estate lawyer who knows real estate in Oregon
I need a real estate lawyer who knows real estate in Oregon I need a lawyer who specializes in real estate law in the state of Oregon. I am quitting my current property manager and I will be managing … read more
Irwin Law
Irwin Law
Juris Doctor JD
7,059 satisfied customers
Minnesota real estate - Is homestead property immune form
minnesota real estate - Is homestead property immune form judgment creditors and federal tax liens- how is a homestead created? … read more
Ray
Ray
Lawyer
Doctoral Degree
7,532 satisfied customers
This matter is regarding real estate but I don't see that
This matter is regarding real estate but I don't see that option or tab listed. … read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,052 satisfied customers
I have a real estate question. Pennsylvania, no, It involves
It involves my 90 year old mom and the transfer of her home to me...possibly… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
When it comes to profitability on Real Estate, I'd like to
Hi,When it comes to profitability on Real Estate, I'd like to know what is the profitability coefficient (like how many % of the full price of the property I can charge as rent in case I decide to ren… read more
Michael Bradley
Michael Bradley
JD
1,136 satisfied customers
I am looking for a cancellation of contract for real estate
I am looking for a cancellation of contract for real estate form … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,102 satisfied customers
A real estate contract states that if financing can not be
A real estate contract states that if financing can not be obtained within the stated time frame, the contract is null and void. If financing can be obtained at a future date, can this contact be rein… read more
Gerald, Esq
Gerald, Esq
Juris Doctor
3,089 satisfied customers
My real estate agent and i completed a real estate
my real estate agent and i completed a real estate transaction back in November of 2007. there has been a problem with the transaction and i would like to take her to small claims court. however, i wa… read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers
Are you a Real Estate Attorney? California. My partner and
My partner and bought a home we had for 22 years he is not on Title and I… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,763 satisfied customers
In commercial Ohio real estate is their such an agreement as
In commercial Ohio real estate is their such an agreement as a NNN lease that is also a land contract installment which offers some type of equity ownership during or after the lease terms ?… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Looking for a Real Estate Lawyer to come out and talk with
Looking for a Real Estate Lawyer to come out and talk with our community about HOA. The builder of our homes just turn over everything to the community with really explaining anything. We are look for… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I have a real estate question related to Florida Real Estate
I have a real estate question related to Florida Real Estate law. … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,720 satisfied customers
Real estate law I'm the seller i signed real estate contract
Real estate law I'm the seller i signed real estate contract now i dont want to sell I initialed the contract instead of signing the sale price was illegible so the seller sent an amendment for me to … read more
Damien Bosco
Damien Bosco
Attorney
3,129 satisfied customers
It is not a real estate problem it is about a person that
it is not a real estate problem it is about a person that was evicted and nowher to go … read more
Damien Bosco
Damien Bosco
Attorney
3,129 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x