Texas Sellers: Don't Fall for this! Read Your Contract
I recently received a contract from a buyer's agent that stated that the Seller's Disclosure had not been received by the buyer prior to their making the offer. The document was on MLS, so I knew that was not the case. But... just in case the other agent hadn't seen it, I emailed them a copy and noted that we would be amending the contract to state that the disclosures had been received by the seller.
I received an immediate response from the buyer's agent letting me know that their broker was a stickler for details and wanted the seller to amend the seller disclosure to state whether the AC, Heater, and Stove were electric or gas, and the age of the roof. No problem. I assured the agent that I would have that information added to the disclosure and to them immediately.
The agent emailed me to let me know it was too late, they had already sent the contract to the buyer stating that the seller disclosure was not received and that there was no changed needed since the contract will be fulfilled when the amended seller's disclosure was received by the buyer.
The agent eagerly let me know that their buyer was waving their option period, and was ready to close as soon as possible.
That might all sound fine and dandy -- but Texas Sellers -- READ YOUR CONTRACT before signing!
IF the seller agreed to the contract as proposed by the other agent, they would, in fact, just be giving the buyer a free opt out period of 7 days. Not smart. No wonder they waived the option period! Why pay for one when you can get one free?
Paragraph 7B(2) was designed for properties where the seller has not completed the seller disclosure and the buyer has no information on the property. Not for written verification of whether or not an AC, heater, and stove are electric or gas (there is no propane tank and we ARE rural so it can't be on city gas) -- and the age of the roof (which the buyer already knew).
The agent knew the requested amendments could have been back to him before his buyers even had the contract signed. But hey... that agent represents the buyer.
I don't! 😊 I am representing the seller.
TEXAS SELLERS: Read your contract before signing, and do not give out free option periods to buyers!
Texas Sellers: Don't Fall For This! Read Your Contract
Note: Even when representing a buyer, I do not play games. Things like this cause animosity and animosity is exactly how people end up in court. Option Periods keep people out of court because it is CLEAR. It is the unrestricted right to opt out within a negotiated time period for a negotiated amount of money. When representing a buyer, I encourage them to purchase an option period instead of trying to sneak one in for free.
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