Buying and selling Real Estate in Pinellas county, being a Realtor, listing agent or selling agent. When do you disclose?
When do you add an addendum to the contract?
I could not believe it, but than again, people never stop to amaze me.
One of my agents got an offer on her listing, only contingency was 1031 exchange, no inspection, not mortgage, on condo docs, no property disclosure, nothing.(That is scary) but hey, we are working as a single agent for the seller and it was a wonderful offer. Everybody singed it, we were under contract. About a week later my agent called me and said, Anne can you please take a look at this, I have received all these addenda from the buyer's agent that my seller is supposed to sign? ! Well, I perfectly understand why my agent was confused. What on earth is the buyer's agent thinking? We have a contract, you negotiate; add addenda and terms while it is still an offer. Once the offer is signed by everybody it becomes a legal binding contract. You can't just change it or add to it. . . Needless to say, we informed our seller by phone about the situation and he did not sign any addenda .We agreed that yes, we will provide access to the property for inspections etc but keep in mind it is NOT part of the contract and therefore not enforceable. So please, next time make it part of your offer, not every seller is that easy going. Buyers and sellers need to make sure that all their issues are negotiated before the last person signs the offer.
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Anne, good for you and your seller sticking to the original terms of a ratified contract. Sounds like the buyer has an inexperienced agent. Hope all goes well and it closes with no hitches.
Thanks for the post Anne.
Not the first time or the last this has happened.
Best of luck
I come across situations like that often here in the Miami area where addenda are left out and pages are not initialed or signed. Time is of the essence here is not always followed too closely, so many times contracts are in danger of becoming invalid due to a laissez-faire mentality on the part of agents.
Does the Buyer's agent have another job? Sounds like real estate is not their main stream of income and if so, it won't be for long. That's a law suit waiting to happen!
Hi Anne,
It does amaze you, doesn't it. People just never learn, but that is what makes the rest of us stand out from the crowd.