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Important Tips for Completing a Residential Contract for Sale and Purchase – Part 17: Attorney’s Fees and Costs

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Important Tips for Completing a Residential Contract for Sale and Purchase – Part 17: Attorney’s Fees and Costs

December 22, 2015
Tanishia Stokes
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Attorney’s Fees and Costs

Section 17 of the Contract discusses Attorney’s Fees and Costs. Here, it states that in signing this Contract, the Buyer and Seller are agreeing to bear their own costs and fees incurred in conducting the mediation and the attorney’s fees. The parties are also agreeing to equally split the mediation fee. In the event of litigation that is permitted by the Contract, the winning party must cover the cost and fees, including reasonable attorney’s fees, of the loosing party that were incurred in the litigation. Paragraph 17 will survive Closing and termination of this Contract.

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