The California Association of Realtors short sale addendum poses some interesting questions for San Diego Realtors and California Realtors.
I thought I might address a few of those issues in a series of real estate posts.
Today we will discuss the first line.
While this may seem elementary - I thought I should review it anyway.
Interestingly - the very first check box poses some issues. I have seen Realtors deal with the checkbox in an inconsistent manner.
Is the California Association of Realtors "short sale addendum" and addendum to the California Residential Purchase Agreement - a Counter offer - or other.
It would seem clear that if the buyer includes the addendum his broker should check the "California Purchase and Sale Agreement" box.
I have seen counters which still checked the box indicating it is an addendum to the California Residential Purchase agreement. I have also seen counters which checked the counter box.
If the only document in the counter were the short sale agreement that checking the first box might be a nifty move. But, in my opinion it would still be a counter.
What if no box is checked - do we have separate contract.
In short make sure you check the box you intend to check. If you are making a counter but calling it and addendum to the purchase and sale agreement - know why you are doing it.
In the next few days I will discus paragraph A. It has some very interesting choices which need to be discussed.
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