Contracts

Feb. 3, 2020

Time Frames of a Purchase Contract

Minding time periods of a purchase contract is an essential element of our Realtor duties. An expiration date of any of the given time periods can result in a Buyer losing their deposit or the Seller failing to close on their property.

Three important time periods to consider are:

  1. Loan ...
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Feb. 3, 2020

Look Around: Is Someone Sabotaging Your Sale?

A house just won’t sell and you may be stumped as to why– and occasionally someone may be sabotaging your sale. Some real estate professionals have found that the saboteur is a neighbor or even the seller’s own child.

In one situation highlighted in The Wall Street Journal, a real ...

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Nov. 27, 2019

How Can I Get Out of a New Construction Condo Contract?

Question: Several years ago, I signed a contract to buy a new construction condo unit. I have made all the required deposits, and we are six months from closing. I found out I have to relocate for my job. What can I do? – Don

Answer: Many things can happen ...

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Nov. 26, 2019

See you in court! 10 ways agents typically get slapped with lawsuits

Real estate agents are particularly vulnerable when it comes to getting sued. With tons of details, multiple clients and valuable properties, it’s all too easy for things to slip through the cracks.

Even the slightest mistake could end up costing you a lot of money, a lot of stress and ...

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Nov. 18, 2019

Dear Anne: What Does ‘Withdrawn’ Really Mean?

ORLANDO, Fla. – Dear Anne: My listing agreement with a seller is for six months, but this seller and I had a falling out three months into the listing. Advertising this property did not come cheap, and the cancellation fee would enable me to recoup my expenses, but the seller ...

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Oct. 23, 2019

Riders, Addenda and Disclosures, Oh My!

ORLANDO, Fla. – If you don’t know already, there are several types of disclosures, riders or addenda that could be used in the course of a transaction. Will you have the same ones in each transaction? Probably not, as each transaction is unique. But knowing when a particular disclosure, rider ...

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Posted in Contracts
Oct. 22, 2019

Agents must send copies of escrow checks – right?

Florida Realtors Legal Hotline gets many questions about the rules governing escrow deposits – and many come from listing agents upset because they haven’t received proof, or at least notification, that the buyers made deposits by the dates stated in the contract. Here is an overview of the most common ...

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Posted in Contracts, Escrow, Purchase
Oct. 18, 2019

What If Someone Fails to Completely Fill Out a Contract?

Some contract “blanks” have a default, such as “3 days if left blank.” But others – sometimes important ones – do not. A quick hint: If there’s an asterisk near the line number, a blank should be reviewed. And remember that key dates and timeframes are important.

If your ...

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Posted in Contracts, Purchase