Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Can a Contract Smell Fishy?
When you are the listing agent and receive a faxed contract along with a letter from a lender it is normal to read the contract and try to read in between the lines. On the first go around it is for terms, price closing dates, seller contributions, special stips. The review of the contract is to double check the offer, making sure you get all the facts straight.  It is then a customary practice to touch base with the agent over the phone, again making sure you have all the pertinent details correct, and then call the lender before you contact the seller.  So far so good?
Then I like to read the contract for red flags...just to make sure what is the intent of the contract.  A short closing date with a low price is OK, because it shows a motivated buyer has the ability to get the seller out of a home quick!  So it is an important term.  Then there is the contract that that says they do not have real estate to sell in order to buy this current home, but the buyer does not want to close for 4 months!  A scary scenario for any seller to take the ... more

__________________________________________________
Are you on The Rain? Grow Your Network!