pennsylvania agreement of sale: Where does the balance lie in the new PAR Agreement of Sale? - 02/24/10 06:03 AM
How will the new Pennsylvania Agreement of Sale be viewed by agents, buyers and sellers. Where does the balance lie between buyer and seller?  
There have been some major changes and the agreement looks very different. One agent asked me while we were going over these changes in a class "Is this Agreement more in favor of the buyer?" My response was to ask how she viewed the current agreement. Many of those present agreed that the current, the 2005 version is very favorable to the buyer and leaves the seller without many teeth.
I think going over this new agreement that several … (1 comments)

pennsylvania agreement of sale: How the 2010 Pennsylvania Agreement of Sale changes affect you. - 02/05/10 07:52 AM
Every year the Pennsylvania Association of Realtors reviews different forms. Last year the Pennsylvania Agreement of Sale was given a review in light of comments from Realtors using the form. These changes are just about to be released with the new version of the Agreement of Sale in 2010. There are a lot of changes to language but let's discuss a few of the highlights.
How will these changes affect you as an agent, a seller or as a buyer? As an agent you need to become conversant with the new forms and what changes have been made and how these affect … (2 comments)

pennsylvania agreement of sale: An Explanation of Pennsylvania Agreement of Sale Part 9 - The End - 12/11/07 07:33 AM
PA Agreement of Sale Part 9
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7
Part 8
The three paragraphs that start this page are all important to understand as they impact the agreement, its breach and any damages the seller can recoup.
Paragraph 28 deals with Representations. How I usually sum sub-paragraph A up is that everything needs to be written down and signed by everyone that they agree with what is written down. Don't accept anyone's word, the seller, the buyer or either of the agents in the transaction, any brochures or promotional material or even advertising. Only what … (0 comments)

pennsylvania agreement of sale: An Explanation of Pennsylvania Agreement of Sale Part 8 - 12/09/07 11:03 AM
 PA Agreement of Sale Part 8
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7
Part 9
Paragraph 21 deals with Maintenance and Risk of Loss. I have actually blogged on this and a good example of this is Why you need to keep your home insured until settlement. There are three parts to this paragraph.
Sub-paragraph A states that seller will maintain the property, grounds and fixtures specifically listed in this agreement in their present condition excepting normal wear and tear. Sub-paragraph B deals with any system or appliance breaks or fails before settlement. The seller has two basic choices. 1) … (0 comments)

pennsylvania agreement of sale: An Explanation of the Pennsylvania Agreement of Sale Part 6 - 11/30/07 07:46 AM
PA Agreement of Sale Part 6
Part 1
Part 2
Part 3
Part 4
Part 5
Part 7
Part 8
Part 9
We are nearing the end, I promise. Sorry this has taken so long to post in its entirety, let me know if this helps. Sometimes trying to explain it is as wordy as what you are trying to explain or worse. There is an official explanation that you can purchase which is available from Pennsylvania Association of Realtors.
Page 6 continues with Paragraph 15 dealing with the Status of Sewer. The type of sewer system is marked in part A. Part B deals with Individual … (0 comments)

pennsylvania agreement of sale: An explanation of Pennsylvania Agreement of Sale Part 5 - 11/16/07 09:52 AM
PA Agreement of Sale part 5
Part 1
Part 2
Part 3
Part 4
Part 6
Part 7
Part 8
Part 9
Page 5 of the Agreement of Sale is quite simple. I always find that pages 1 thru 4 take the longest to complete, after that it moves much faster.
Paragraph 12 handles Wood Infestation inspection contingency. Obviously this can be waived or elected. If waived our usual paragraph 27 the Release is agreed upon as well.
If elected the number of days is selected again running from the execution of the contract. Paragraph A says the inspection is at the buyer's expense and will be carried … (0 comments)

pennsylvania agreement of sale: An Explanation of Pennsylvania Agreement of Sale Part 4 - 11/08/07 06:11 AM
PA Agreement of Sale Part 4
Part 1
Part 2
Part 3
Part 5
Part 6
Part 7
Part 8
Part 9
Paragraph 10 headed Inspection Contingency Options is the controlling paragraph for the 4 following paragraphs. It describes the 2 options available between the buyer and seller and the possible results under these options.
Option 1 applies within the contingency period as selected and stated in paragraphs 11-15. There are three possible results of the inspections.  1) The buyer can accept the property as it is and release all parties under paragraph 27. 2) If the buyer is not satisfied with the inspections the buyer … (0 comments)

pennsylvania agreement of sale: An explanation of Pennsylvania Agreement of Sale Part 3 - 11/01/07 02:14 AM
PA Agreement of Sale Part 3
Part 1
Part 2
Part 4
Part 5
Part 6
Part 7
Part 8
Part 9
A short post today to complete Page 3.
Page continues with Paragraph 7 revised in September 2005 which is a warning about meeting deadlines. If the agreement is contingent upon inspections and/or repairs, insurability, environmental conditions etc, if these are not carried out by the times stated in the agreement it is the same as if the contingency has been waived and the Buyer accepts the property and agrees to the RELEASE stated in Paragraph 27. This is one of the duties of the Buyers agent … (0 comments)

 
Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) Rainmaker large

Nick Vandekar, 610-203-4543

Tredyffrin Easttown Realtor, Philly Main Line

Devon, PA

More about me…

Long & Foster Real Estate Inc 610-225-7400

Address: 92 Lancaster Avenue, Devon, PA, 19333

Office: (610) 225-7400

Mobile: (610) 203-4543

Email Me

Some thoughts and ideas about Tredyffrin Easttown Real Estate that might help you when you buy or sell.


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