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The Affiliated Business Arrangement Addendum- What it really means to you
When a buyer or seller is presented with a standard contract of sale that contract can now far exceed more than 40 pages. Among those pages is often found a page titled "Affiliated Business Arrangement Disclosure Statement"
It is not at all uncommon for the Realtor to present the contract of sale to the buyer/seller and to simply point and say "sign here, here, here and initial here, here, here." More often than not buyer/sellers will do just that without bothering to read any part of the contract, or alternatively, simply reading what they feel to be important to them, such as the sales price, the cost to be paid by each party etc.
Many of the provisions of the contract of sale are "boilerplate" and every contract of sale has basically the same language in it. It is always a good idea to have the contract reviewed by your attorney if you don't understand any of it's provisions. But, what I want to particularly address here is one of the addendums that is often attached to the standard contract of sale. Today we are going to look at the Affiliated Business Arrangement Addendum. (AfBA)
The Affiliated Business Arrangement Addendum is ... more
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