Negotiate and Draft Contracts Like a Pro
Contracts are the foundation of any business exchange. A well written agreement will keep both parties to the transaction honest, happy, and deter unnecessary litigation. Our core belief is that every contract we draft (or negotiate) for you should:
- Make you money
- Increase your equity
- Limit your exposure/liabilities
- Eliminate potential headaches
Get a Contract Drafted or Reviewed – Sinai Law
Lots of law firms will draft and negotiate contracts for you. What makes our service different?
- Fast – we are able to provide custom contracts that are tailored to your needs within 48 hours of notice (in most cases). We know that in many cases speed is just as important as the price. We get to work right away and will provide you with a first draft within 24 hours of engagement.
- Unrelenting Representation – our guiding principal is that a good contract cam both make you money and save you a lot of headaches. We’ll use every part of our toolkit to make sure you are in the best position to negotiate anything.
- Experience – we’ve negotiated hundred of commercial contracts, purchase and sale agreements, residential and commercial leases, release agreements, and settlements.
Types of Contracts we Love to Draft and Negotiate
- Purchase and Sale Agreements – most PSAs are prepared by agents to the transaction, not attorneys. While it may not matter in most cases – agents are often unprepared (and unable) to tackle legal disputes that could come up during escrow. Sale of real property such a house or commercial property are complex transactions that could result in expensive litigation. Always have an attorney review the PSA and make changes to reflect your negotiating position. And don’t forget – agents only make money if the deal closes – always have an attorney review the PSA because unlike agents – our compensation is not tied to a successful sale of the property.
- Commercial Leases – agreements to lease a commercial space are often long, complicated, and very consequential. Very often, commercial leases could be over 10 years long, and have a dramatic effect your the property value. If you are about to sign a long or short term commercial lease – have Sinai Law review the lease and let us offer you our thoughts. A lease is much more than the monthly rent and term.
- Business Contracts – if you are not sure about a business you are about to sign – it is best to contact an attorney and have them review it, than sign it and not understanding it. At Sinai Law, review any type of business contract and can provide you details explanation about each provision and suggestion on how you can edit the contract to improve your position and eliminate future liability.
- Release Agreements and Settlement Agreements – these types of contracts usually come after agreeing to resolve a legal dispute with another party. In order to make sure both parties abide by the terms agreed to, a lawyer drafts a settlement agreement that specifies who pays who, the timeline, and a satisfaction of claims between the parties. Signing a release agreement does not necessarily mean the other side won’t sue you again. Always have an attorney review or draft your release agreement.
- Cash for Keys – these are unique agreements that landlord and tenants enter into where the landlord offers the tenants a sum of money to leave the premises and cancel the lease. This is common in rent control cities where tenants can stay in the unit indefinitely. In most cases, property owners who just bought an apartment building and want to increase rent/renovate the unit will offer long term tenants money so they can renovate the unit and increase the rent. Knowing the right amount in cash for keys agreements is important, but not the only factors. Most cities regulate the manner in which parties can enforce those contracts – so it is important to contact an attorney.
- Wholesale Real Estate Contracts – selling real estate contracts is a popular way to make money in real estate when you have no seed money to invest. Wholesalers call property owners and secure a contract to purchase the property for a low price, then quickly assign the contract to an end buyer for a profit, or double escrow. The contract used is the only protection for the wholesaler to ensure payment.
- Employment Contracts – California is an at-will employment state, but it is your contract that you negotiate before employment that could affect the terms of separation. With proper legal representation, you can avoid legal pitfalls and secure yourself a better future.
The 5 Biggest Mistakes in Business Contracts
- Not Negotiating – everything in any contract is negotiable before you sign it (and sometimes, even after!). The best time to ask for a contract amendment is before you sign it. When you are handed a contract – it is usually drafted in favor of the writer, not you.
- Contracts can be Changed at Any Time – just because you signed and agreed to a contract does not mean it is set in stone. Our practice at Sinai Law is specialized in re-negotiating contracts before they expire to better reflect a changing environment and business realty. Obviously it is harder to negotiate a contract amendment after signing one, but not impossible.
- Breaking a Contract is Not a Crime – a contract should make sense to both sides at the time of signing and throughout its life. When it is no longer viable to abide by the terms of the contract, it is sometimes smart to part ways and either amend or reach a contract resolution through a mutual settlement. Remember, it is not a crime to end a contract before its expiration date.
- Contracts have to be Legal in Order to be Enforceable – just because parties agree on terms does not mean those terms are enforceable. For example, for a residential lease in California, a landlord cannot ask for more than 2 months worth of security deposit (3 for a furnished unit). This is true even if both parties agree about a higher deposit.
- Not Using an Attorney – using a lawyer to review a contract before you sign it (especially if the contract was written by the other party) is essential if you are about to enter a long term relationship like a commercial lease or a purchase and sale agreement to sell property. It could help you avoid costly mistakes and even improve your standing in the negotiation by changing key parts of the agreement.