Let's Get Real - Writing Offers Correctly the First Time

By
Real Estate Agent with Tropic Shores Realty - Ich spreche Deutsch!
http://actvra.in/54hs

Let's Get Real - Writing Offers Correctly the First Time

 

First impressions matter and that is true when making offers as well.  

One of my pet peeves is receiving offers written incorrectly or sloppily. Even though offer often do get changed in the negotiation process, the appearance and accuracy of the initial offer does transfer some expectations to the sellers of how a transaction will transpire should the offer be accepted and raise questions about the competency of the cooperating agent and even the diligence on the part of the buyer to follow through on the terms of the contract. 

Naturally, as a REALTOR® who works with many sellers, many offers cross my desk. Here are some recent examples of areas were of concern right from the get-go:  

 

  • Computations:  Our forms list offer price, initial deposit, amount (or percentage) for financing, and a "balance to close".  If the offer amount is $171,500, the deposit is $1,000 and financing is 47%, the balance to close is not $170,500! By the way, when I pointed this out to the buyers agent, the reply was, "I've always done it this way and never had a problem."

 

  • Time Frames and Dates: Make sure time frames make sense. Don't ask to close in ten days and also ask for a 15 day inspection period.  Use a calendar to figure out whether a closing date falls on a weekend or national holiday.

 

  • Use of Correct Forms: In Florida, contract forms were changed a month or so ago and reflect some significant changes.  By all means, throw out the old and use the new! There was a reason, real estate attorneys and the Florida Realtors organization got together to make these changes. 

 

Perhaps this all sounds very sticklerish on my part and maybe these are in fact three pet peeves!

Nevertheless, even if the actual terms of the offer will need some work, a clean and properly written offer will be looked upon more favorably by sellers than one that appears messy, disorganized and needing "house keeping" corrections that are a distraction from the actual terms. A little bit more attention, time and effort at the beginning could make the difference between an offer that is being accepted or rejected. 

 

 

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 For more information about Hernando County Homes and Land for sale including Spring Hill and the communities of Timber Pines, Glen Lakes Golf and Country Club, Silverthorn, and Hernando Beach , please call or visit my website!

Let me help you find Your Place in the Sun!

 

Silvia Dukes PA, Broker Associate

Tropic Shores Realty, 3441 Deltona Blvd, Spring Hill, FL 34606

Phone: 352-584-7441    Email: SilviaDFL@yahoo.com   Website:  www.SilviaDukes.com

 

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Copyright (c) Silvia Dukes 2006-2017.  All Rights Reserved. 

Listing and real estate market information is current as of the date it was posted but subject to changes.

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Rainmaker
813,652
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

It should all make sense in the end Silvia and if it doesn't after proofing the contract there are going to be problems. There's no fun in that!

Apr 30, 2017 07:57 AM #3
Rainmaker
3,226,682
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Silvia, we do see many very poorly written offers, and have had them rewrite versus writing a very long counter.   This way if it does get accepted, it is cleaner for the lender.  Great entry.

Apr 30, 2017 08:09 AM #4
Rainmaker
940,740
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

A poorly written contract often just throws up red flags all over the place.  Equally annoying are contracts that are practically illegible. 

Apr 30, 2017 08:41 AM #5
Rainmaker
2,434,409
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

Silvia,  It does not sound sticklerish to me. The contract represents the agreement between the parties. It is essential that it be correct to avoid conflicts.

Thank you for participating in the contest.  

Apr 30, 2017 09:15 AM #6
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Anna Banana Kruchten CRS,CRB
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Siliva I've seen some real crazy offers come across my desk over the years. The worst one was an empty offer - seriously, the whole things was intialed, signed and dated but there were no terms at all - nothing.  Empty offer!

Apr 30, 2017 02:37 PM #7
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Northern VA

It's sad to see a contract come in with a 30 day financing contingency, but a settlement date for two weeks.  ????  Sometimes it's pure laziness on the part of the buyer's agents.  They go into the last offer they wrote for that buyer and think they have changed everything.  NOT.

Apr 30, 2017 03:42 PM #8
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Kristin Johnston - REALTOR®  What really boggles my mind is when people think it's ok to submit offers with obvious errors. 

Jeff Dowler and these things come up when presenting the offer to the sellers. Doesn't give them a very fuzzy feeling

 

May 01, 2017 05:26 AM #9
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Kevin J. May that's true, there are enough issues that can come up, there's no need to deal with things that can easily be avoided.

Joan Cox yes, a rewrite is often the best way in these cases!

Susan Haughton I agree, if you know your handwriting is not the greatest, try writing in block letters. 

 

 

May 01, 2017 05:29 AM #10
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Kathleen Daniels thank you, I included a photo and don't know why it didn't show up (it did before it was published).

May 01, 2017 05:31 AM #11
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Anna Banana Kruchten, CRS .... all blanks means the seller gets to put in whatever they want!  :-)

Chris Ann Cleland that's a classic example!

May 01, 2017 05:32 AM #12
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

It would be my pet peeve to get a handwritten contract to start with. Welcome back!

May 01, 2017 07:16 AM #13
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Joe Pryor thank you, it's been a long time.  Yes, I would prefer a printed document. 

May 01, 2017 09:23 AM #14
Rainmaker
594,785
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Not sticklerish at all.  I am 100% in agreement with you. -Kasey

May 03, 2017 08:17 AM #15
Rainmaker
4,270,818
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thank you very much for sharing your pet peeves.

I hope you are enjoying a most productive week.

May 04, 2017 05:54 AM #16
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Whenever there is a change in forms they the errors mount up and there is lots of sorting and correcting to do. It is a frustration to those of us that know how to take the time to read it and do it right the first time.

May 04, 2017 06:37 PM #17
Rainmaker
1,582,085
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

There are times when I wonder how agents got their license! Writing a contract is so critical! You did a great job on this post!

May 06, 2017 05:03 PM #18
Rainmaker
1,308,771
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

This is a great pet peeve... and how about when they can't even get the property correct, either a wrong address or tax map ID?  And don't the principal brokers ever look these things over?  No excuse for sloppy contracts.

May 06, 2017 08:56 PM #19
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Kasey & John Boles I'm glad I'm not the only one thinking that way. 

Roy Kelley thank you and you as well.

Debbie Reynolds not to mention all the things that can get lost or overlooked if not done right from the start. 

 

May 08, 2017 08:21 AM #20
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Patricia Feager thank you, contract writing unfortunately is not covered in the licensing classes. It's something you have to and should learn right after though!

Georgie Hunter R(S) 58089 incorrect addresses/tax id's may result in all sort of issues if not caught early on!

May 08, 2017 08:38 AM #21
Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Eventually you will get good enough that I don't feel like second nature or brushing your teeth.:)

May 08, 2017 09:50 AM #22
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