Real Estate

The contract is the most important part of the real estate transaction.  People rely too heavily on what is said rather than what is put in writing.  If it’s not in writing, it’s basically not enforceable - and if not enforceable, it’s unreliable.  If you sign anything, whether or not you read or understand it, you have agreed to the contents and can be held or bound to its terms.  These rules apply if you are dealing with the seller, the buyer, your realtor, the other realtor, your lender, your home inspector, or anyone about the real estate matter, and whether you are signing a listing agreement, a sales contract or addendum thereto, closing and loan documents.

Because of these rules, the documentation in real estate and loan transactions is extensive and too often simply accepted and signed upon the explanation of “being standard”.  Very substantial dollar amounts are being received, paid or borrowed, often upon the explanation as “standard” by the realtor *, who only makes the commission if you sign the paperwork, or the lender *, who only gets paid if you close the deal and sign the loan papers.  When spending, borrowing or receiving such large amounts of money, doesn’t it just make sense to get advice or explanation of what you are being asked to sign - before you sign it - from someone you are paying to look out only for your best interests - instead of someone * who gets paid only if you sign all the papers?

*     Clarification (Apology) to all my Realtor, Mortgage Broker / Lender, Home Inspector and other professional friends and referral sources: You know I’m not suggesting that any of you don’t fully protect your clients’ interests.  On the contrary, any of you who refer your clients to an attorney do so specifically to make sure the client’s best interests are looked out for and protected.  Protecting our clients makes us all look good and assures our mutual success, reputation and future.