Bill has brought up a very important subject.  There are many views on this one.  Even a few where the attorney says go for it.  I don't know why a Professional in law would tell anyone to write a contract that is not enforceable.

If you have not read this yet, it will make you think.  Make sure and read Bills's additional comments as they bring additional thoughts to this issue.

Via William Feela Realtor 651-674-5999 No. Branch,MN (WHISPERING PINES REALTY):

I showed up at my buyers home to write of the contract on a property that they love.

They knew I was coming.  I even told them that if we dont' get this in by tomorrow morning, it will be to late....Per selling agent.

When I walk into the house, something just was not right.  Both husband and wife were laughing and very relaxed.  They were very excited that the search was finally over.

I sat down and told them that I could not write the contract at this time for they were not of sound mind.  they looked at me..."What do you mean?"

"You both have had way to much to drink!  By law, this contract could be voidable and It would be on my head.  so, because of that, I will NOT write the contract."

Legal binding contracts are only legally binding if the parties are of sound mind.  That includes not being under the influence of drugs or alcohol.   If for some reason they decided to walk, they would just have to say they had to much to drink and were not thinking straight and that the agent knew we were drinking.

This couple lost out on this home.  They were not real happy about it, but after a few days Mr. Buyer had had a chanced to call someone and then understood where I stood.  "We won't be doing that again!"

Buyers and sellers need to be of a clear mind and it is up to us to make that judgment when we deal with them.  Don't' think so, just talk to one of your local judges and you WILL find out fast.

I was told of an agent that was sued by his clients and lost when he did a legal contract with his clients and they were not of a CLEAR mind.

Buyers and Sellers...Do yourself a favor and take this to heart for you could be the loser in this also!


 
Posted by Vern Eaton /Realtor 320-630-6995 on 03/30/2012 03:20 PM   Comments (5)  
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5 Comments on I am sorry, but I am unable to write the contract at this time.

MAR
30
2012
386,594 Points 3 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

This would also apply to old folks that seem to be quite forgetful.
5:10pm • #1
MAR
31
2012
1,401,043 Points 54 Featured Posts Outside Blog Called Shot Master

Vern Thanks for helping get this issue out front.  Many people I believe are in deniel

Rob...you are very right.
7:07am • #2
235,664 Points 1 Featured Post Called Shot Master

Vern, this is an important issue and one each person needs to think about themselves.
7:23am • #3
261,443 Points Called Shot Master

It is important and is also shows professionalism when you excersise ethics.
5:20pm • #4
APR
04
2012
522,834 Points 10 Featured Posts Outside Blog Called Shot Master

That was nice of you to reblog Bill's post.  You know, if you do one more original post, we can welcome you into the 200K club tomorrow. (Oh, and ten comments, of course. 
1:43pm • #5


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