Third party to write purchase contract for buyers... GoHomings

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Real Estate Agent with Fairfax Realty, Inc

I just got an email from Gohoming.. that going forward they will be writing purchase contract for buyers once the buyer's bid is accepted via their system.. How is this going to help the buyer?Having a third party draft the contract?

 

 

Going forward, we will write the contract for you! When the terms of your bid or offer are approved, our system will forward a ready-to-use, standardized Purchase and Sale Agreement. In the past, the buyer's agent was responsible for drafting the state contract and attaching the seller's addendum A. Now, you only need to have your buyer client sign and return the Agreement to continue with your transaction, saving you time and effort.

 

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Re-Blogged By Re-Blogged At
  1. Charita Cadenhead 03/30/2011 05:02 AM
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third party to write purchase contract for buyers gohomings

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Ambassador
758,987
Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

I am not familiar with GoHoming.  I'lm goint to look them up.  Keji I am not liking the sound of that at all.  Reblogged.

Mar 30, 2011 04:48 AM #1
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Linda K. Mayer
License # 01767321 - La Verne, CA
Realtor, SRES, SoCAL, A REALTOR YOU CAN TRUST

I actually don't like that at all. It's my license on the line no matter what happens so I would rather be a control freak and get it done right!

Mar 30, 2011 04:50 AM #2
Rainmaker
282,177
Keji Ogunleye
Fairfax Realty, Inc - Greenbelt, MD
GRI, SFR, KejiYour Realtor

Charita,

Exactly my point.. I don't like the sound of it at all. I will change to public post.

Mar 30, 2011 04:57 AM #3
Rainmaker
313,528
Glenn Roberts
Retired - Seattle, WA

Pretty silly system, if you ask me. Whose clients are the buyer's? Who benefits?

Mar 30, 2011 05:14 AM #4
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Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

This is one area that even I can say technology is hurting the system. I just don't understand how this helps anybody. No matter how much technology we put into the industry, it still comes back to face to face contact and interaction.

Mar 30, 2011 07:24 AM #5
Rainmaker
282,177
Keji Ogunleye
Fairfax Realty, Inc - Greenbelt, MD
GRI, SFR, KejiYour Realtor

The message is geared towards buyer's agent.. So buyer's agent input the bid and Gohoming will write the offer.. Since the system is setup for the seller to accept offer, the contract will be in favor of the seller and what about the regional issues that is already in our contracts... I'm not comfortable with them writing an offer for my buyer.

Mar 30, 2011 07:58 AM #6
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Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Understood Keji.  One of the primary objections is that there seems to be a continous effort to dilute the role of real estate agents and GoHoming is a perfect example of that.

Mar 30, 2011 08:14 AM #7
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I do not think it looks right. the buyer's agent writes the contract in favor of the buyer and the seller's agent can have the seller ask some things to be changed. Is there an attorney review ?

Mar 30, 2011 10:59 PM #8
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Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Keji...I looked at the site and see that it is all REOs.  Perhaps that is why it can be done that way.  Unfortunately they are diminishing the role of the real estate agent as Charita pointed out.  Anything that comes between the agent and the client bothers me.  Someone ends up having to pay them, either the client or the agent.  It is not a free service.

Kate

Mar 31, 2011 12:54 PM #9
Rainmaker
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Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

There is no way I'd use anything other than the LOCAL forms prepared, and reviewed by PMAR.  That's scary when a third-party wants to get involved with this. 

Apr 03, 2011 08:27 AM #10
Rainer
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Michael-Edward Cruz
Pacific Sotheby's International Realty - Newport Coast, CA
Michael-Edward Cruz - Newport Coast & Bay Front

I would not recommend anyone work with go homing, they control escrow, title, contracts etc. I tried for two days to get a correct settlement statement. There broker was rude and unhelpful. Completely aweful, would never do it again. I believe my buyer may even end up suing them over a credit they refused to honor. 

May 30, 2012 06:52 AM #11
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