Friday, April 29, 2011

Mean what you say when you make an offer on a property!


You can probably think back to your childhood and remember an adult or mentor or friend telling you that you should mean what you say. That adage rings true when it comes to writing offers on real estate, too.

Often times buyers (and sellers for that matter) request special options be put into an offer, if X then Y, etc. Although TREC's Broker-Lawyer committee has worked very hard to make the special provisions section of the contract smaller and smaller, agents are still trying to stick something in there to modify the terms of the promulgated contract form. You may wonder what the big deal is... this article from bankrate.com does a great job in illustrating why this portion of our forms continues to get smaller. The article also helps better understand how, if you must use this section, to best protect yourself so that your intent is clear and enforceable.

What's the best way to protect yourself in a transaction? Hire a quality real estate professional to represent your interests. You know where to find us!

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