Call me picky, but I don't let buyer clients sign blank forms.

By
Real Estate Agent with Keller Williams Realty - Lakeside Market Center

Oh, the wonderful world of bank owned properties!

Let's see, first the sellers disclosure is stamped:  "Exempt" or some such other language.  The bank owners have never lived in the home so they surely cannot attest to the condition of the home unless they have inspected it.  I get it.  My buyers get it.

What I don't "get" is this The Federally mandated lead base paint disclosure form is sent to buyers agents blank.  Not a bit of wording on it, not even the catch all: "Sorry, I don't know, have never tested the home, do your own due diligance."

I don't know about anyone else, but handing my buyer clients a blank form that is important to any purchase transaction in the US to just sign, date and initial willy nilly gives me the wilies.

What I have done since I first saw this blank lead based paint disclosure is this - I write the following language above the spot for the buyer clients to sign:

"As of the date of purchasers signature the sellers have not provided disclosure and purchasers are signing an incomplete form."

They are then given the opportunity to indicate whether they are waiving the right to have a lead based paint inspection, or whether they wish to conduct one. 

How do all of you handle this when you see it?  Surely it cannot be something that is typical only in my area.




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Rainmaker
2,798,800
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Kris:  I wish it were only bank-owned listings that present blank forms for buyers to sign. It makes me CRAZY.  What about the illegible docs we get from title and escrow ... no one can read them and yet we cannot close unless we sign.  I write on the documents ... illegible ... required to sign yet cannot read!

Regarding your specific question - the banks don't know ... complete the form to the best of your ability ... advise your clients regarding lead based paint and their right to inspections ... you will lose the battle with the bank/seller!

Oct 21, 2009 02:34 AM #1
Rainmaker
786,820
Mike Jaquish
Realty Arts - Cary, NC
919-880-2769 Cary, NC, Real Estate

Kris,

I hate open blanks in forms.

I love that Zipforms 6 has a button that puts N/A into any open spaces on the current form!

Oct 21, 2009 03:55 AM #2
Rainmaker
346,007
Jenny Kotulak
RE/MAX Real Estate Centre Inc., Brokerage - Oakville, ON
Broker - Oakville Ontario Real Estate

Hi Kris,

I think it's all about CYO these days.  Having your clients sign to acknowledge is the right way to go.  We have forms in our office that we are to get our buyers to sign should they wish to forego putting in a finance or inspection condition.

They are to sign stating that we recommended these clauses but they have decided not to add them to the offer.

 

Oct 21, 2009 05:35 AM #3
Rainmaker
2,771,153
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Kris, That's interesting, I don't even know if lead paint has to be disclosed here although I would guess it must be.  I love your idea of writing something in so the buyers can make their own decisions.

Oct 21, 2009 10:41 AM #4
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

They want all our signatures witnessed and all teh "t's" Crossed and they are very sloppy with the way the sign and prepare there papers and seem indifferent when I ask them to complete the documents to the same standard they require.

Oct 21, 2009 03:32 PM #5
Rainer
340,913
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

Kathleen,  I haven't had that happen yet (knock on wood) but would feel much the same as you do - illegible, not going to work.

Mike, I do the same things on my purchase offers.  It's the docs that come to me blank that I cringe about.  Frustrating for sure.

Jenny,  Not just covering us, but making sure our clients are covered also.   Thing surely have changed haven't they?

Carole, The lead based paint disclosure is Federally mandated, I think that's what makes me so ornery about blank ones :-)

Terry and Bonnie,  Oh yes, let's not forget to make sure every I is dotted :-)

Oct 21, 2009 11:57 PM #6
Ambassador
2,299,387
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Signing blank forms leaves someone wide open to possible changes... just never a good idea.

I always put N/A in the blanks unless it's one of our forms that says something like _______ (3 if blank). 

 

Oct 23, 2009 12:17 AM #7
Rainer
494,722
Lynn911.com ~ Dallas Real Estate Agent Top Team
Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com - Dallas, TX

Kris what I am amazed about in school they state never leave anything blank when completing a contract... how many buyers agent forward me sales offer signed by buyer blank !

Nov 05, 2009 02:36 AM #8
Rainer
334,174
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

No i think that is very smart never sign blank forms

May 27, 2011 04:15 AM #9
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Rainer
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Kris Wales

Real Estate Blog & Homes for Sale search site, Macomb County MI
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