Home : Blogs : Ronda Myers-Waters : Ronda's Blog

What Clauses do you add to your contracts?

I was curious on what clauses you add to your contract to protect your clients. I know that state laws are different but I know that there are clauses that can be used in one form or another in each state.

I have used:

The property must appraise for at least purchase price or contract is null and void.

The property must be in the same condition or better as seen on date of showing.

The home inspection must be acceptable to the buyers.

Since I have been only in the business for a year I know that there are many agents with a wealth of knowledge. I'm hoping you will share these clauses with others.

Thanks in advance for you responses.

Posted by Ronda Myers-Waters on 04/20/2007 01:37 PM

Comments (2)

contracts, buyers, sellers, realtors, clauses

2 Comments on What Clauses do you add to your contracts?

APR

2007

Rhonda, I'm not a big fan of adding clauses to a contract. In Florida most everything is covered on the back of the contract in the standards. Additional clauses do have their place just make sure they are not redundant. I get offers sometimes with 2 pages of extra clauses and everything they have put in is already in the "fine" print on the back. The larger national chains are notorious for this. I guess they are just trying to cover their rear ends. I do like this one though " If you don't close my seller is keeping your escrow deposit" :)

APR

2007

Our standard contracts for our MLS covers what you add. Keep doing that. Dates are very important. An important consideration is to be kept informed of the loan status and to have a firm commitmnet by such and such date, so your clients are not strung along. Its' smart to ask for help. And its' even smarter to ask your supervising Broker for help.

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?