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.