If you look at most contracts you’ll find that they are written in lawyer-speak or legalese which is to say that they make little sense to the average person that doesn’t deal with them everyday. Real estate forms are no different but that is to be expected. With property values starting at several hundred thousand and going into the millions these contracts have to cover many aspects of the deal. The standard clauses contained within the agreements are written to protect the Buyer, the Seller, and the Realtors, so an understanding of what the agreements say is absolutely necessary.
In addition to the standard clauses there are custom clauses that are inserted by Realtors in a schedule as part of the agreement. Extreme care must be taken here as these clauses can be written in such a way as to hide an aspect to the deal that, if written in plain English, the other party would never agree to. Using an experienced Realtor can help you here.
Along with the complex nature of these forms and agreements one will quickly realize that there are a lot of forms to sign but each is absolutely necessary. One thing that can help is to explain these forms early on in the process and fill out the forms that can be filled out immediately. This way the amount of paperwork is minimized when it comes to making an offer or looking at an offer to purchase. A good Realtor will help you with this.
In short, a Realtor can help prepare the Buyer or Seller by providing an explanation of what to expect in an offer so that the standard clauses do not need to be read in-depth during the offer presentation. Instead, you can concentrate on the custom clauses and the terms of the deal.
Below you will find downloadable versions of the most common agreements with the plain English explanations. Feel free to download and familiarize yourself with the contents should you ever have to sell or buy a home.
Call Richard at 416-277-8025 and make the home buying and home selling experience a simple and rewarding experience for you and your family.