Your happy real estate friend is the Executed contract

Here is a tool, that will take all parties in a real estate transaction to the closing table, or settlement as it is technically called. When every thing goes well in a real estate transaction, the culmination is a completed real estate sales contract, an executed contract. To have an executed contract, the contract must be valid. For it to be valid, certain ingredients must be included: a legal purpose, both parties having  capacity to go into a contractural relationship, an  offer and acceptance of that offer, the contract must be in writing and signatures included, and there must be some consideration (money for example). Agents learn this in real estate school.

 To have an offer and acceptance, both parties need to understand what the real estate contract is asking for, and what is the obligation of each party. The real estate agent’s job is to assist with preparing the offer for his or her customer, and to answer questions about the clauses. If the buyer or seller needs further clarification or understanding, than a lawyer is a good source to go to, but be prepared to pay lawyer fees.

 The important point with real estate sales contracts is that every important issue needs to be addressed in writing: who pays what, what are the dates in which events must be completed, how can the contract be amended, what are the contingencies, and what contingencies would be of advantage to each party.

The real estate contract tells a story. Each real estate transaction is a unique story. No two transactions are the same, just like no to pieces of property are the same. Something is always going to be different, and special for that event in time.

Kenneth Fach, REALTOR, ePRO
Weichert, REALTORS-Anchor
1607 Village Square Boulevard, Suites B 103
Tallahassee, Florida 32309
Direct/Text 850-339-5753  http://KennethFach.com

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