Or something else that would be ridiculously futile in the whole scheme of things. We all try the baby steps to fixing a problem, but sometimes there is no point. If you have that many holes in the boat, it ain't gonna float!!!!
I took a call from a panicked new agent today that made me smile....writing your first offer can be nerve racking to say the least. I remember that first offer...I bet it took me two hours and then my manager came in and spent another hour with me, re-writing it! No point in turning in a shipwreck!
Protecting the client is your primary focus! Most people only buy a few homes in their LIFETIME! As a REALTOR®, you will be responsible for explaining that 4 page contract in Iowa hundreds of times....if you make it through the first one, that is....
Contingencies are of utmost importance. From beginning to end, this contract was just jacked up....to say the least.
--The buyer was not pre-qualified at the time of the offer. The agent tried to pre-qualify the buyer themselves and based on their "calculations" the buyer could afford the home. Wrong answer.
--The buyer did not have an adequate down payment for conventional financing. And yep, you guessed it. It was being sold as is. Wrong answer.
--The buyer had waived all inspections. They were competing for the property and thought that it would make their offer stronger. Wrong answer.
You name it, and it was just like putting a bandaid on a geyser....there was no saving this one!
Take your buyer to a lender to be qualified, go over the property disclosure thoroughly, NEVER recommend that they waive their inspections, even in a multiple offer situation.....among other things....
In this business it is not about whether or not you will be sued....it is a question of how many times and for how much! Keep that Error and Omissions Insurance in place, you will surely need it!