The parties to a contract must all be legally competent to enter into an agreement. This includes being of legal age and mentally competent at the time of entering the contract. You find out that a 15-year-old has inherited a prime piece of real estate and you really want it. Don’t have them sign a sales contract and expect it to hold up in court.
Whether it’s for a real estate purchase or a general business contract. even though a buyer and seller are the intended actual signing parties to the contract. Pre-printed forms can be advantageous.
By signing a disclosure such as a real estate agency disclosure, you are basically indicating that you have received a copy of the disclosure. Remember to read your disclosures and ask questions if you do not understand the content. An agency disclosure is not a buyer-broker agreement.
Real estate can be a complicated industry. There are so many wrinkles you have to smooth out before you actually move into your home from getting an agent, to finding that perfect dream home. Not.
Step 3. Include an "executor" provision in the contract, if the document can be amended. A possible clause you may want to include in a contract you are signing as executor is the following: "This contract is signed by John Doe as executor of the estate of Harry Doe.
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Mistakes to Avoid When Signing Residential Real Estate Contracts (Part 2) by James J. Cummings III on February 13, 2011 In Part 1 , we talked about some of the basic aspects of choosing the right contract forms and the fundamental information to be included.
Do you need a basic Real Estate Contract that is as simple as possible, while still containing the language necessary to reach a clear agreement.
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When is a real estate contract binding? "In general, an offer becomes a contract when both parties have signed," says Phil Lunnon, a Realtor with Lunnon Realty in Lakewood, CO. Once this happens,