How many contract forms are too many?

By
Real Estate Agent with The Diamond Group @ Keller Williams

When I first started in this business there were two pages to a purchase contract and I used carbon between the two pages and asked clients to press hard when signing.

That was then and this is now!

Today on a typical buyers transaction I am using the following contracts and forms:

 

 

Residential  Buyer/Tenant  Representation Agreement

1-4 Family Residential Contract (Resale)

Third Party Financing Condition Addendum

For Your Protection: Get A Home Inspection

General Info. And Notice to a Buyer

Info. About Prop. Insurance for a Buyer or Seller

Information About Brokerage Services

Information About Special Flood Hazard Areas

Inspector Information

Intermediary Relationship Notice

Non-Realty Items Addendum to Contract

Protect Your Family From Lead in Your Home (if home is older than 1978)

Protecting Your Home from Mold

Amendments

Buyers Walk Thru and Acceptance

Sellers Disclosure

Lead Based Paint Addendum

 

 

And a few more if necessary, Phew!

 

 

Is this being overcautious?    It is important to disclose everything I can to the buyer or the seller and have them be aware of any possible pitfalls too.  My Broker likes me and now that I'm mostly paperless my file cabinets aren't spilling over and I'm feeling like I'm doing my part to go green

I guess in this ‘lawsuit happy society', it pays to be over cautious.  And most of all a happy client is an educated client!

Posted by

The Diamond Group of Keller Williams Realty

'A Cut Above The Rest'

4747 S. Loop 289 Suite 110

Lubbock, Texas 79424

 

806.771.HOME (4663)

thediamondgroup@kw.com

www.lubbocktxhomes4sale.com

 

 

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Comments (3)

Ellie Penaranda
239.776.5077 Downing-Frye Realty - Naples, FL
Naples Florida Real Estate - Waterfront & Beach Co

Don't want to give my age, but I loved those days with the 2 page contract.  Good post.

Nov 14, 2010 10:22 AM
Kathy Denworth
Century 21 Schwartz Realty - Islamorada, FL
Realtor in the Florida Keys, Islamorada, Key Largo

I had to laugh when we got our newest contract AND the addendum's. We were at a board function to introduce them. We received 52 pages of addendum's. I brought to the attention of the instructor that we were missing the "A Black Cat used to live here" addendum!

Nov 14, 2010 10:23 AM
'The Diamond Group' 'A Cut Above The Rest'
The Diamond Group @ Keller Williams - Lubbock, TX
Lubbock Texas Real Estate

Oh wait Ellie, didn't I mention, I was helping my mother.......drats, I've been outted..........I'm old, but young at heart. lol........yes the two pages were good

Wow Kathy, can they come up with a few more for us.....I know it is meant to protect us and the consumer, but really; hmmm, the black cat one.......I better see if we have one in Texas

Nov 14, 2010 10:26 AM

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