I don’t know exactly how it happened, but over time, REALTORS® and their clients stopped paying much attention to real estate paperwork. It’s not that we don’t do it anymore. In fact there is more paperwork required for a purchase or sale than ever before in this industry. The problem now is that no one thinks the fine print matters. Nothing could be further from the truth.
Everything we do in real estate should and does come down to the offer. Without a purchase contract, there is no leverage in a negotiation and no legal commitment to do anything that is being promised.
Critical ‘deal parameters’ outlined in the purchase contract include:
- Deposit money and terms for getting it back if things go sideways.
- Inspection and financing contingencies
- Buyer sale-of-home contingencies
- Deadlines for the buyer or seller to meet stated conditions
- Terms of the offer, including seller representations and warranties
I could go on for pages and pages here…
Instead, watch my video below and discover why this ‘piece of paper’ needs a long look long before the deal happens. Then give us a call or send us a message. We would love to hear your questions and concerns about your next real estate purchase or sale!