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Addendums, subject to, contingencies, etc. What those blanks say are the most important part.
The addendums are fill in the blank too. The part that asked if there are addendums to attach, gives a list of about 10-12 and you check the box and attach the form. You could always check the "other" box, but for each contingency, there is a fill in the blank form.
My real estate attorney tells me the CA Bar Association doesn't even provide them with purchase agreement forms.
Get a narrower brush.
Just because the Bar doesn't provide purchase agreement forms does not mean that you cannot use an attorney to prepare a real estate contract. I would be pretty terrified if my attorney just provided me with the Bar's standard purchase form.
What I was hinting at is every person in every state has access to an attorney to help them with buying or selling..... contract law. With the help a lawyer you can protect yourself better than a real estate agent template.
No, because our contracts are written by attorneys. We have a broker/lawyer committee who creates our "fill in the blank" contracts. These are contracts that you can't strike through as they are Promulgated by the state of Texas. Why do you need an attorney to "fill in the blank"?
Why do you need a realtor to charge an extra % or flat fee to do what you are already paying an attorney for and is more than qualified to fill in the blanks?
Addendums, subject to, contingencies, etc. What those blanks say are the most important part.
There are times when a bank will only speak to the attorney as well. I've experienced this and they needed paperwork from me, but for some reason they couldn't/wouldn't ask me directly. Maybe they wanted it in their attorney's files? Who knows.
There are times when a bank will only speak to the attorney as well. I've experienced this and they needed paperwork from me, but for some reason they couldn't/wouldn't ask me directly. Maybe they wanted it in their attorney's files? Who knows.
Happened to us in Illinois some years ago. Bank would only speak to my (the seller's) attorney. The bank said they were the buyer's attorney.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Originally Posted by TheCityTheBridge
Just because the Bar doesn't provide purchase agreement forms does not mean that you cannot use an attorney to prepare a real estate contract. I would be pretty terrified if my attorney just provided me with the Bar's standard purchase form.
Well, back in the early 80's, we had a client who took our standard WA real estate form to his attorney, who then retyped it WORD FOR WORD on legal pleading paper and charged him $200 for the effort!
I don't have any issue with taking a contract form to one's attorney to review it, but I do have an issue with a buyer going to an attorney who either has to start from scratch or has to modify one of his own existing prior agreements (with the myriad number of variables that our forms incorporate with check boxes) at an hourly rate.
I'd also like to point out that the real estate forms we use, are prepared by a staff of 20 attorneys updated every 6 months to reflect legislative and case law changes. An attorney that only handles real estate is probably OK, but I think most attorneys handle all sorts of cases and can't possibly be as up to date on real estate as the ones that provide us with our forms.
Well, back in the early 80's, we had a client who took our standard WA real estate form to his attorney, who then retyped it WORD FOR WORD on legal pleading paper and charged him $200 for the effort!
I don't have any issue with taking a contract form to one's attorney to review it, but I do have an issue with a buyer going to an attorney who either has to start from scratch or has to modify one of his own existing prior agreements (with the myriad number of variables that our forms incorporate with check boxes) at an hourly rate.
I'd also like to point out that the real estate forms we use, are prepared by a staff of 20 attorneys updated every 6 months to reflect legislative and case law changes. An attorney that only handles real estate is probably OK, but I think most attorneys handle all sorts of cases and can't possibly be as up to date on real estate as the ones that provide us with our forms.
Yikes for the word for word retyping. I'm definitely in agreement that a buyer/seller, if they want to use an attorney, should only use an attorney who specializes in real estate. Actually, the same can be said for any legal work. And I would certainly expect any realtor to use forms that are updated by attorneys to reflect changes in legislation and case law. It is good to hear that is happening.
In your case, I would think that an attorney would be the most effective, cost-efficient way to go for both of you. The buyers/tenants have lived in the house for almost two years. They know what it's like. To ask you to provide repairs for things that they might have broken in the first place is a little odd, IMHO. And why do you assume that you have to pay closing costs? That's a negotiating item -- I sure wouldn't offer. They WANT your house -- why give money away? Why would your tenant/buyer need an agent to buy a house they have lived in already? Seems like an attorney would do the job for them, too.
Did their agent from their initial lease have any language about leases that convert to sales in their lease contract? You are obligated for a certain percentage if that was the case. Look at your lease contract and see.
If you absolutely feel like you need an agent, then have your agent do it for a flat fee. They don't have any marketing costs, listing costs, etc., you're just paying for their time to oversee and negotiate inspections, etc., in areas where you may not have a lot of expertise. 3% when you already have a buyer is nuts.
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Well, back in the early 80's, we had a client who took our standard WA real estate form to his attorney, who then retyped it WORD FOR WORD on legal pleading paper and charged him $200 for the effort! 
