Which party's agreement is critical for a real estate contract to be enforceable?

For a real estate contract to be enforceable, it is essential that both parties involved in the agreement are legally competent. This means that they must possess the legal capacity to enter into a contract, which includes being of legal age, mentally sound at the time of agreement, and not under duress or undue influence. If either party lacks this competence, the contract may be deemed void or voidable.

Legally competent individuals can understand the terms of the contract, the obligations it entails, and the consequences of their agreement. Ensuring that both parties are competent protects not just the integrity of the contract but also the interests of all parties involved in the transaction.

While the other aspects mentioned—verifying income, completing inspections, and involving an attorney—could play important roles in the transaction or in best practices around real estate deals, they are not fundamental requirements for the enforceability of the contract itself. The existence of mutual legal competence is a cornerstone of contract law and is necessary for any binding agreement in real estate or any other context.