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Just wondering if there is anything wrong with this in a legal sense. Does anyone know?
The forms are usually copyrighted - my MLS used to (not sure if they still do) sell the local “standard” forms for a nominal fee. In my area, the “standard” purchase agreement gets revised pretty frequently based on local disputes & case law. It’s probably safer to use the local standard form than to have an attorney draft your own (or use a generic form) because there are so many disputes that factor into the language.
I’ve never heard of any private party getting sued for copyright infringement for using a local form, the MLS isn’t a party to the contract & wouldn’t have any way of knowing that you did, but considering the $$ involved in the transaction, I’d personally try to buy a copy if I could, if nothing else just because the standard form is what buyers and sellers in your area are used to.
Lots of little “gotchas” in local contracts that aren’t always intuitive or “common sense” - I noticed one in my parent’s area that the default contract there gives away any propane or fuel oil in the tank to the buyer at $0 - that could be a several thousand dollar gift depending on fuel prices & tank sizes. I guess buyers there expect some free fuel & things like that could be a deal-kinker a day or two before closing, when people actually bother to read the docs.
Disclosures tend to be NC State forms, mandated by the NC Real Estate Commission.
Lead-Based Paint disclosure is a Federal requirement and readily available.
Offer to Purchase and Contract, and various addenda are copyrighted by NCAR, but if the FSBO is on MLS, the listing agent may be allowed to provide them to a "customer."
Some attorneys provide them to clients, expecting the client to use them to vet the contract.
So, it may be completely legitimate use. It may be less legit, too, if they just scraped old docs off line that someone posted.
Disclosures tend to be NC State forms, mandated by the NC Real Estate Commission.
Lead-Based Paint disclosure is a Federal requirement and readily available.
Offer to Purchase and Contract, and various addenda are copyrighted by NCAR, but if the FSBO is on MLS, the listing agent may be allowed to provide them to a "customer."
Some attorneys provide them to clients, expecting the client to use them to vet the contract.
So, it may be completely legitimate use. It may be less legit, too, if they just scraped old docs off line that someone posted.
Thanks for this. I underlined the one statement I did not understand. Do you mean to compare to someone else's contract?
Disclosures tend to be NC State forms, mandated by the NC Real Estate Commission.
Lead-Based Paint disclosure is a Federal requirement and readily available.
Offer to Purchase and Contract, and various addenda are copyrighted by NCAR, but if the FSBO is on MLS, the listing agent may be allowed to provide them to a "customer."
Some attorneys provide them to clients, expecting the client to use them to vet the contract.
So, it may be completely legitimate use. It may be less legit, too, if they just scraped old docs off line that someone posted.
Thanks for this. I underlined the one statement I did not understand. Do you mean to compare to someone else's contract?
Thanks for this. I underlined the one statement I did not understand. Do you mean to compare to someone else's contract?
Many FSBO's engage an attorney ahead of time, to be on board to review the Offers received.
There is agreement between the Bar Association and NCAR that members of the bar may use the standard forms.
So, some attorneys share the documents with clients as part of their service.
I have had sellers present forms to me that they received from their attorney.
Nope. My last two FSBOs I bought the forms packet for something like $100 extra on the flat fee MLS package.
A flat fee MLS package means you signed a listing contract. Technically not a FSBO.
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