WHAT AM I SIGNING?

So, as you might have guessed, there is a lot of paperwork in real estate… And a lot of places for you to sign your life away. READ YOUR PAPERWORK. I don’t know if I can express that enough. That being said, when you find a house that you want to make an offer on, it’s crunch time. I would rather you ask a million questions ahead of time than try to learn what you’re signing while you’re signing it (you’ll be happy you did). For that reason, I’ve uploaded some of the basic paperwork for you to read over at your leisure. Feel free to reach out with any questions.

Real Estate Sale Contract

Let’s start with the big daddy of contracts. When an agent puts in “An Offer”, this is it. This contract is the written agreement between buyer and seller to transact real estate. The buyer agrees to pay an agreed-upon amount for the property. The seller agrees to convey the deed to the property. The terms include, but are not limited to:

-Price

-Sales/closing target date

-Deadline by which the offer (this contract) expires

-Earnest money deposit amount

-Details about who pays for inspections, survey, title insurance, etc.

-Details about adjusting utilities, property taxes and other fees

Exclusive Buyer Agency Contract

The Exclusive Buyer Agency Contract is what binds the buyer to the agent. It’s kind of like dating. If you sign the contract, you agree that we’re not going to see other people. I’ll help you with what you need, and you’ll put an offer in on a home using me. If at any point you decide you don’t like me anymore, we can break up with no hard feelings and you’re free to see other agents.

Exclusive Right to Sell Contract

This is very similar to the Exclusive Buyer Agency Contract, except it deals in listing your home. The contract states that I will do everything in my power to sell your home quickly and effectively. If, for some reason, you feel like I’m not doing enough to sell your home, you’re free to kick me to the curb. However, I doubt you’ll want to 😉

UREKC Franchise Disclosure

This is the franchise disclosure for United Real Estate – Kansas City. It basically says that we are an independently owned and operated franchise, and by signing, you are okay with that. It does not say in the Franchise Disclosure, but it will say in the Real Estate Sale Contract, that we have a Broker Administrative Commission Fee of $530. That Broker Administrative Commission Fee is charged to you (the client), and handles paying the people behind the scenes for making sure all of the paperwork is 100% correct when the transaction closes.

Sellers Disclosure Addendum

Ahhhh, the Seller’s Disclosure. Probably my favorite form. This contract discloses everything about the home. Anything the current property owner knows about the property is right here on this document. It’s like snooping without snooping. As always, READ YOUR PAPERWORK, because there might be something on the Seller’s Disclosure that is a big dealbreaker to you. Like, no toilet in the Master Bath or a Roof Age of 100.