Happy Attractive Hispanic Woman Holding Sold Real Estate Sign and Keys in Front For Sale Real Estate Sign and House.
The current real estate market is red hot. That climate creates the opportunity for problems in real estate transactions. Today, with a huge shortage of homes, sellers often find themselves with dozens of offers to choose from. If an offer waives the right to a home inspection, that offer will be viewed as more attractive because it eliminates delays, and eliminates the buyers ability to negotiate a better deal because the seller might feel pressured to make expensive repairs.
On the other side of that coin, it is much more likely that a buyer may end up with a property that has lots of problems. Did the realtor neglect to mention pertinent problems? Was the property misrepresented in the brochures and advertising? In today’s market, that is much more likely to occur.
One of the worst real estate contract errors an agent can make is to change a contract once it’s been signed by both parties. If a buyer and seller have both signed the contract, it is legally binding in its current form. Neither you as the agent nor your clients can make any amendments to that document without the help of an attorney.
If the contract is not filled out properly – using nicknames instead of legal names, with spaces in the contract left blank, with incorrect or unreasonable closing and contingency dates, or using “Per Survey” instead of the actual lot dimensions – these errors can be expensive and difficult to correct. A competent realtor will not allow these things to happen.
Do you think you might have an issue with a realtor that might allow you to be compensated? If so, call out office for a consultation.
Ben Winter, P.A. focuses its practice in the areas of real estate law, Social Security Disability and Workers Compensation in St Petersburg, Florida. For more information, go to our web site www.benwinterlaw.com or call (727) 822-0100.