Updated: Jan 23, 2021
As a Transaction Coordinator, I handle a lot more files a month than the typical Realtor. The average is about 30 closings a month and up to 60 open files at any given time. That kind of volume means that I've seen it ALL. Extreme requests for repair. Up to 5 different transactions all contingent on each other. Hidden HOA companies. Escrows that have gone smoothly and escrows that have almost made me want to quit my job and move to another country.
The most common issues arise from a contract that was not completed correctly, understood correctly or explained correctly.
By the time a contract comes across my desk, it has already been fully executed (usually) and the terms have already been agreed to. Most agents are shocked to find out during the middle of a transaction, that what they thought they had agreed to, is not the case.
Below is a breakdown of 9 things to know and remember the next time you are writing a contract for your Buyer or reviewing one with your Seller.
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Have any other tips or lessons you've learned writing up or reviewing a contract? We would love to hear about it! Send us your thoughts to: email@example.com or leave a comment below.