Legal and Negotiations
Probably the most underrated aspects of my job, is the Legal paperwork associated with a real estate transaction. Not enough goes into training new salespeople on how to make sure a contract is written legally. Most of the focus is on the marketing ability of agents to get new clients. Yet, it is the first thing a private sale will call me about when confronted with drafting an Offer. This is where we stand out, and show how valuable our services are. One mistake in an Offer, can have dire consequences.
The Agreement of Purchase and Sale is the offer document used to facilitate a contractual arrangement between a Buyer and a Seller. How conditions are inserted and which ones to utilize is very important, especially, when coordinating Sale of Property offers and clauses associated with them. There are different Legal forms for drafting offers depending on the type (ie, commercial or residential) of property a realtor is dealing with. Each comes with its own set of rules and regulations. Having experience and knowledge in zoning, bylaws, and city regulations can be of particular value.
I have negotiated hundreds of contracts over the years for both Buyers and Sellers. The negotiation process can be a delicate one depending on the personalities involved. It is important to have a mediator in between finding common ground for both. This can take the pressure off the two parties, knowing that they are being properly represented, and don’t actually have to meet each other for fear of offending the other.
Some common costs to consider when purchasing a home are: Legal fees and Land Transfer Tax, Home inspections, Home insurance, Moving costs and Utility hook up fees. I will always address these costs so my clients are fully aware of their financial responsibilities beyond the downpayment and mortgage.
For more information on Legals and Negotiating, Call me today!