Real estate transactions have gotten more complex over the years. Three decades ago when I started in real estate, a purchase and sale agreement was two pages. Today it can easily be 20 pages with various addendums. Shakespeare didn’t mean it literally when he wrote in Henry VI, “‘The first thing we do, let’s kill all the lawyers.” But I think it is fair to say that lawyers are part of why real estate transactions have become exceedingly full of traps for the unwary.
Complex Real Estate Transactions
There are over 100 real estate documents in a real estate broker’s digital files, and within the typical contract to purchase a single family home, there are far more legal clauses than a normal human being can read or comprehend. Make a mistake in a contract and you could be hanging yourself. A wrong addendum, an ambiguous clause, an incorrect box checked, and you could find yourself in serious trouble. And that assumes good intentions on your part. So what’s the proactive strategy to avoid such nightmares?
Real Estate Transactions Made Easy
That sounds like the title to a book, Real Estate Transactions Made Easy. The truth is they are not easy, but there is a way to take the stress off your back and reduce the risk of a mistake. There are a thousand ways to make a mistake, and screwing up the negotiation process is just one of them. What is the key to a smooth purchase? There’s no question about it. The key is finding a very experienced, knowledgeable and professional real estate agent who is also . . . honest. Do your due diligence and spend some time on the Internet researching agents, and then communicate with him or her. Make a wise choice, because it is the first most important decision you will make buying a home. That’s how you assure that you will have trouble when it comes to real estate transactions.
Last Updated on September 21, 2019 by Chuck Marunde