Originally posted on Mama Liz Blog I continue to be horrified with poorly written contracts -- Please when you are writing an offer to purchase a property, you want it to be enforceable.
You need to take extra caution to be sure that all your t's are crossed and your i's dotted.
1) Do not replace just one page of a contract, because that is the only page with a change. If there is ever a reason to go to court over the contract, you need for all the pages to look the same. If there needs to be a change on one page, the entire contract should go back and forth - getting the proper initials and dates. This was covered in Residential Real Estate Contract - Tip # 3 . Just because the "other agent"or the "other party" says to do it one way does not mean that the contract will be enforceable. Learn the correct way.
2) As stated in Residential Real Estate Contract - tip # 2, be careful with your financing clause.
3) As stated in Residential real Estate Contract - Tip # 1, one needs to be careful with your closing date.
4) So, Tip # 4 = Every blank on the contract should have something in the blank. If there is nothing to go in the blank, then you should put "n/a". Contract Tips are brought to you by:
Co-founder of AgentOwned Realty ]
843-725-5007
The AgentOwned Realty serves your real estate needs for:
Isle of Palms, Sullivan's Island, Daniel Island, North Charleston,
Summerville,Goose Creek, Moncks Corner, Santee, Manning, Sumter, Florence, & Myrtle Beach, all in South Carolina
Hi Liz, thanks for the tips. So many people have different opinions on contracts.
In the old days , a couple of years ago when there were tons of buyers, sellers would use flaws in the contract to get out of a deal and sell to someone else. Agents really do not know that flaws in a contract can make the whole thing void
Liz ---- thanks for stopping by -- you are right -- there are many opinions out there.
Charlie ---- good to see you here, my friend. Some agents have no clue ----
