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All depends on the State in which the transaction takes place. I've dealt with two: Cal and AZ.
The number of pages in the Cal. contract was over 100 and the number of pages both the seller and I had to initial/signed were far more than I recall.
My RE agent stated in the contract the property I was selling was under the Ellis Act restrictions. However, my attorney later advised it best to add a letter spelling out those restrictions.
The inspection report along with other pertinent documents were provided to the buyers agent before the contract was signed. All papers were later initial/signed by both parties except the inspection report which showed 40 grand in repairs were needed. .
Now, I liked my agent. He brought me buyers off market and got me asking price. However it was my own due diligence which got me the docs I needed. To close the deal without the inspection report having been signed off on would have been have been a major mistake.
Why wouldn't my agent make it clear having the buyer sign off on the inspection report was important especially in this deal?
Why did I have to repeatedly ask for a copy initialed by seller?. This was all done by docusign. Takes no time to sign/return. All my agent told me was the sellers agent was waiting on the buyers to return it.
No, best to get the deal closed and both agents go home a winner.
Three months later if the seller gets sued that's his problem.
UPDATED:
The seller finally signed th release contract and take the deposit to move on. They need my signature. Now i don't know what is hidden because they already schedule mediation and their house is still on market. Oh well, i asked my agent and he said once i sign, i only lose my deposit. Nothing else. I guess they're just bluffing. I will review the form tonight to make sure there is no hidden "cost" but thank you to all of you. Your inputs helped me a lot.
Have you asked a lawyer whether you actually have to give back your deposit?
Yes I did. He gave me many resolution but to get back my deposit is a longer process so from the beginning I decided to forfeit it. Like I said, it is the seller wants more money from me beside the deposit. so I kept fighting.
For clarification the below has been posted again:
All depends on the State in which the transaction takes place. I've dealt with two: Cal and AZ.
The number of pages in the Cal. contract was over 100 and the number of pages both the seller and I had to initial/signed were far more than I recall.
My RE agent stated in the contract the property I was selling was under the Ellis Act restrictions. However, my attorney later advised it best to add a letter spelling out those restrictions.
The inspection report along with other pertinent documents were provided to the buyers agent before the contract was signed. All papers were later initial/signed by both parties except the inspection report which showed 40 grand in repairs were needed. .
Now, I liked my agent. He brought me buyers off market and got me asking price. However it was my own due diligence which got me the docs I needed. To close the deal without the inspection report having been signed off on would have been have been a major mistake.
Why wouldn't my agent make it clear having the buyer sign off on the inspection report was important especially in this deal?
Why did I have to repeatedly ask for a copy initialed by the buyer? This was all done by docusign. Takes no time to sign/return. All my agent said was the buyers agent was waiting on his client to return it.
No, best to get the deal closed and both agents go home a winner.
Three months later if the seller gets sued that's his problem.
Yes I did. He gave me many resolution but to get back my deposit is a longer process so from the beginning I decided to forfeit it. Like I said, it is the seller wants more money from me beside the deposit. so I kept fighting.
If you had already spoken with an attorney and decided to forfeit your deposit why the mediation hearing?
For clarification the below has been posted again:
All depends on the State in which the transaction takes place. I've dealt with two: Cal and AZ.
The number of pages in the Cal. contract was over 100 and the number of pages both the seller and I had to initial/signed were far more than I recall.
My RE agent stated in the contract the property I was selling was under the Ellis Act restrictions. However, my attorney later advised it best to add a letter spelling out those restrictions.
The inspection report along with other pertinent documents were provided to the buyers agent before the contract was signed. All papers were later initial/signed by both parties except the inspection report which showed 40 grand in repairs were needed. .
Now, I liked my agent. He brought me buyers off market and got me asking price. However it was my own due diligence which got me the docs I needed. To close the deal without the inspection report having been signed off on would have been have been a major mistake.
Why wouldn't my agent make it clear having the buyer sign off on the inspection report was important especially in this deal?
Why did I have to repeatedly ask for a copy initialed by the buyer? This was all done by docusign. Takes no time to sign/return. All my agent said was the buyers agent was waiting on his client to return it.
No, best to get the deal closed and both agents go home a winner.
Three months later if the seller gets sued that's his problem.
Please. The CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS is 8 pages and the attached BUYER'S INSPECTION ADVISORY is 2 pages. It actually is smaller than the NV one though very similar.
The seller wants more than deposit. I refused. So they want us to go to a mediation. But if we sign this release form. It will be also canceled
You forfeited your earnest money over a drywall repair?
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