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Old 07-28-2012, 05:42 PM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
Reputation: 30150

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Quote:
Originally Posted by Motion View Post
I understand that the forms they sell at Staples and Office Max aren't the same as the ones used by professional Realtors and Attorneys so my main question is what would be some of the problems with using those Staple and Office Max forms for transactions?
You need an attorney to review the forms and tell you how they may or may not be deficient for your use.

Licensed real estate agents are well-versed in the use of standard forms, but in most states we are out of our area of expertise when dealing with other documents.
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Old 07-28-2012, 05:54 PM
 
Location: Salem, OR
13,741 posts, read 31,556,293 times
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Quote:
Originally Posted by Motion View Post
I understand that the forms they sell at Staples and Office Max aren't the same as the ones used by professional Realtors and Attorneys so my main question is what would be some of the problems with using those Staple and Office Max forms for transactions?
Well the problem is that state laws change every year. Real estate agent forms are updated as new laws go into effect where the generic forms aren't. Most don't address disputes as well.
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Old 07-28-2012, 06:11 PM
 
Location: Austin
7,077 posts, read 16,889,211 times
Reputation: 9484
Quote:
Originally Posted by Motion View Post
I understand that the forms they sell at Staples and Office Max aren't the same as the ones used by professional Realtors and Attorneys so my main question is what would be some of the problems with using those Staple and Office Max forms for transactions?
When they are generic forms for the entire country, they don't address state specific and market specific stuff like what we call "The Option Period" in Texas and finance terms and HOA addendums and any of the potential 50+ addendums that are out there.
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Old 07-28-2012, 06:39 PM
 
Location: DFW - Coppell / Las Colinas
29,922 posts, read 34,526,470 times
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Also, for example they don't address our TX laws on issues like HOA documents and your rights. States handle issues differently and a one size contract has many holes.
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Old 07-28-2012, 07:51 PM
 
6,314 posts, read 8,641,450 times
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Quote:
Originally Posted by Silverfall View Post
Well the problem is that state laws change every year. Real estate agent forms are updated as new laws go into effect where the generic forms aren't. Most don't address disputes as well.
Ok I'll keep that in mind. That does sound like something to consider with those Staple forms.
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Old 07-28-2012, 07:59 PM
 
6,314 posts, read 8,641,450 times
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What about the forms offered by US legal forms? They seem to offer forms specific for different states.


Real Estate Contract Forms – Real Estate Purchase Agreements
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Old 07-28-2012, 08:39 PM
 
Location: Phoenix AZ
5,920 posts, read 10,440,488 times
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Quote:
Originally Posted by Motion View Post
What about the forms offered by US legal forms? They seem to offer forms specific for different states.


Real Estate Contract Forms – Real Estate Purchase Agreements
probably close to 90% of sales transactions go through realtors, and the form that those realtors use gets tried and tested in court more than any other, day in and day out. They have committees and herds of attorneys on the payroll, and when something unexpected happens in court, they revise the form, so it doesn't happen again.

That isn't to say that you *can't* write up a legal and binding contract on a piece of toilet paper - you can, and it will work. But the benefit of the realtor's form is that it is used by agent's on *both* sides of almost every transaction in most areas, and everyone *knows* what it says. There aren't as many "gotchas", or misplaced commas that make the meaning of a clause ambiguous. All the "common" disagreements have been covered & spelled out, and as a buyer or a seller, you don't have as much to worry about - there is an "out" for financing, there is a section about appliances, drapes, and water softeners. It isn't all-inclusive, but it's darn close.

For the record, you can actually *buy* a copy of our contract, even if you aren't using an agent, so it is available if you want it.
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Old 07-28-2012, 08:46 PM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
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Quote:
Originally Posted by Motion View Post
What about the forms offered by US legal forms? They seem to offer forms specific for different states.


Real Estate Contract Forms Real Estate Purchase Agreements
The correct answer is unchanged by selecting a different forms provider:

Quote:
Originally Posted by MikeJaquish View Post
You need an attorney to review the forms and tell you how they may or may not be deficient for your use.

Licensed real estate agents are well-versed in the use of standard forms, but in most states we are out of our area of expertise when dealing with other documents.
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Old 07-29-2012, 08:05 AM
Status: "October is the eighth month" (set 19 days ago)
 
Location: Just south of Denver since 1989
10,677 posts, read 28,491,129 times
Reputation: 6842
Our purchase contracts, written in plain English, are freely available on the real estate commissions website.

On a side note, it's a constant source of amusement what trained brokers put in a contract. I would be ROFL if I read a contract from someone without any training.
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Old 07-29-2012, 09:04 AM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
Reputation: 30150
Quote:
Originally Posted by 2bindenver View Post
Our purchase contracts, written in plain English, are freely available on the real estate commissions website.
Ours are not. One can see samples on the NCAR site, but they are private forms, and the State offers no standard forms.
I wonder how many states have standard forms readily available to consumers.

Quote:
Originally Posted by 2bindenver View Post
On a side note, it's a constant source of amusement what trained brokers put in a contract. I would be ROFL if I read a contract from someone without any training.
Oh, yeah. You can tell the "Pros" who think CE is a burden.
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