I believe the errors and ommissions insurance is to cover the realtor for any errors and ommissions on their part, not the seller’s part.
To use a realtor for any purpose other than using one to FIND you a buyer is waste of money! Why would you want to pay 6% commission just to be represented by a realtor if you are procuring your own buyer??? Just for the use of their contract??? That is what attorneys are for! Use an ATTORNEY to represent you and draw up your contract if you need one and pay a few hundred bucks for it rather than thousands to some realtor which is NOT an attorney!
If you need help in finding a buyer then THAT is what you use a realtor for. Other than that you don’t need a realtor and a realtor would be the last person I would use for ANYTHING other than having one to list my property to help find a buyer quicker!
Hello,
I bought Carltons 200. course 4 mos, ago and trying to sell my house yet he does not include a real estate sales contract for the “seller” only a darn fine one for the buyer??
Does anyone have a good sales contract that leins toward the seller??? I reside in Nevada, if anyone has one of these.
Thank you in advance for your kind help and words.
Best regards,
Bill
Not to put too fine a point on this, as a REALTOR, but anyone can get their State specific contract forms from a legal stat. store. The local Board of Realtors can also Sell them to you. You can probably go to PlanetRealtor.com and find links. Your state bar association website might have them. A local real estate attorney might have them; a title firm - if you close at title company and not law office - will have them or can direct you to them.
I would not use the Sheets contracts because I would want the most up-to-date contract with all the currently required disclosures and addendum language.
You can also pay a real estate agent who may or may not be a Realtor to do the contract for you. When I buy out of my area, as I frequently do, I have someone - arms length- write it up for me and walk it through closing.
You have a lot of options, just be sure your contract is the most current for state law.
best of luck!
Carleton’s sales contracts are part of his “deals”. Carleton advises using Realtors, who have contracts favring the Seller. He designed his contracts to favor Buyers. You can also get a dandy contract from your realtor. If you are a FSBO, (Carleton uses realtors and I advise you to also) then go to the legal board here and get a contract there. A realtor has Errors and Ommissions Insurance that will cover you in the event you have a disgruntled buyer downstream. Plus Realtors have forms customized for their state and fine toothed by staff attorneys who want to protect all parties from negative blow back after the deal.
However, if you want to fly without a net, go to the legal forum here.
GOOD LUCK!!!
Posted by Gary De Pury on July 14, 2002 at 19:58:58:
OK, you don’t want to pay a realtor, or an attorney, but you still gotta close, so go to a title company and have them write the contract for you, no skin off their nose, your the one who knows everything that you don’t need any help! Or do you??? www.DePury.com