Re: CAR forms - Posted by Irwin(CA)
Posted by Irwin(CA) on December 30, 1998 at 02:08:03:
I usually use the CAR form because it looks “official” and seems to give some people a warm fuzzy.
I always accept (initial) the liquidated damages clause because it limits my liability to my small deposit when buying and provides access to the buyer’s deposit when I am selling. When selling, I try to get a relatively large deposit to help retain the buyer’s interest. By the way, I never lost a deposit nor have I had to retain a Buyer’s deposit.
I NEVER accept the arbitration clause because I don’t want some yutz arbitrator deciding an issue based on anything other than legal principles. If there is a problem, I want legal principles to apply. By the way, I’ve only had to go after a seller once in small claims court when he decided to reneg on our deal. In that situation, I recovered my expenses.
Hope this helps.