Anyone who has done Real Estate business knows that the paperwork involved is not your standard readers digest or back of cereal box type reading. Sure, it is submitted in separate multiple documents all with headings and purposes and the intent is to make sure that what the clauses are saying take place or don't
BIRTH OF CLAUSES
When you get a moment, actually look at the paperwork objectively and for no particular reason. WHY? You will discover with little or no effort how it came into being and what it's purpose is. Remember that the clause was born out of necessity from problems that were litigated and to prevent problems too.
WHOSE DRIVING?
Everything in these documents, contracts or agreements are necessary and recommended and time has proven this true enough. Standard operating agreements of which all escrow companies are familiar with are a must and they drive the transaction.
PAUSE HERE
Why all the paperwork and high-sounding words and small print? Because the stakes are so high and the gains and the losses so real that the paperwork is used as a kind of PAUSE feature to help all involved slow down and make sure that this is what we all want to do and how we want to do it
ARE YOU SURE?
Some clauses are so powerful that they require separate initials. Even whole pages require it now a days as well. Signatures are not only standard, but the writing out of your name clearly plus the date and other information is a way of slowing it all down for a LOOK SEE and make sure
HEY MURPH
Discussion prior to signing is mandatory. WHY? Murphy's law of if something can go wrong it will may kick in and those clauses are like claws even talons that tear into the flesh of the matter holding whoever agreed to it strongly and with a sound grip. The time to express doubt is long gone after you have signed. Doubt is more effective upfront
YOU CAN CHALLENGE THE BOILER PLATE
Many people become intimidated by standard, multiple-paged, prepared, small print type paperwork and don't realize that they can object to a clause or ask to have it removed or modified if it is not to their liking after it is explained. Already prepared contracts are intimidating and imply they are correct. They may not be unless you agree to them
$$$$
If earnest money is involved, it is important to apply the brakes and come to a complete stop. Anytime money is changing hands, slow it down. Another dynamic equally important is a specific performance clause where you have to do or not and by a certain time. These can be costly mistakes if not handled
CLEARING OUT THE FILES
I pulled an old file the other day and the time to keep it expired and it was so thick and full of documents with signatures and I couldn't help but think that in its moment, it was very important and instrumental in Real Estate changing hands safely. Now, at some point, to some people, it remains trash...
SEEK HUNKY DORY
Today, when someone signs their name and or initials something, you can sure a contract was formed and on its way to being executed. If done correctly, then the expected promised and agreed to results appear and all is hunky dory.....
If not...the words....IS THIS YOUR SIGNATURE will be the battle cry before the battle....
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