So my partner and I recently stumbled on a piece of land we would like to purchase in cash. The seller agreed to wanting to sell it to us. Right now we are in a weird limbo in which it is just a verbal agreement because both sides are hesitant to sign the Purchase and Sale contract without a lawyer looking it over. The problem is, the lawyers are totally bombarded with work right now and there is no telling how long it will be.
My question is: how can we get this property “under contract” in the mean time? We are using an e-forms Purchase and Sale agreement and this sale is very straightforward with no contingencies.