With the voluminous paperwork created in any escrow, it is easy to miss the little things....and the little things can cost exhorbitant amounts of money. Here are a few things you may want to check:
Does your fax machine and computer have the right day and time?
This becomes vital when 2 contracts come in and you need to prove which one came in first. It also will become vital when you need to prove you sent something in a timely manner.
Did you date and time your Agency disclosure?
By law, you must have a signature on your agency disclosure before you even begin to write a contract. If sued, an attorney can claim there was no fiduciary understanding if you did it bass ackwards.
Did you read the details of the pest report?
You come to an agreement regarding who is paying for what on the pest report and you think you know the total cost. All signatures are in place. Then you discover that little print that says a supplemental report is needed. The buyers think that they are getting a total clearance. The seller thinks that they know the expenditures. The supplemental may have thousands of dollars in cost that were not allowed for.
Did the seller check the box that said that all additions were done with permits?
Did the seller tell you verbally that he personally enclosed the back porch? Hmmm...may be a problem there!
Does the buyer think that the freestanding stove is staying? Does the seller think that their classic Wedgewood, freestanding stove is going with them?
Even if the stove is stuck between two cabinets, don't assume that it stays. Many agents have purchased their clients a new stove because they "assumed" something.
These are just a few examples. In real estate, the devil is in the details. Be sure the devil doesn't bite you!
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