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The Definite Guide to Offer To Purchase And Contract Form

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Check How to Enter the Offer To Purchase And Contract Form

so today we are going to go over the.offer to purchase and contract.and remember this is not a contract.written by the north carolina real.estate commission.this is actually written by the.association of realtors in cooperation.with the bar association they write it.for the use.of realtors you'll see in just a moment.down at the bottom of the page.the realtor logo which means that it is.used specifically for.the industry you can't just give a copy.of this to.your friends and family unless you were.involved in the transaction.exactly so chris i know you love to.start at the very top of this.and that's going to be with our title.the offer to purchase and.contract why is that so important to you.well it seems kind of simple but it is.one form that serves two purposes when.you make an offer when the buyer.typically.makes an offer it's an offer to purchase.then when the seller accepts it.and it's communicated back to the buyer.it becomes a contract you don't need a.separate form for that.i agree all right well let's go down to.section one the terms and definitions.because for the next two and a half.pages or so we're really going to be.defining.all of the different terms that are in.the contract.and starting with the seller and the.buyer.because it literally says this contract.is between the seller and buyer.i don't see the word agent or firm or.anything.here this is about the seller and the.buyer.that's it keep in mind for uh test.purposes it's going to be.extraordinarily important to know.uh the parties of a contract i will get.into some.information later of why it's important.to know that the agent is not.part of this contract for example think.compensation compensation does not show.up here.because as candice said the parties are.the seller and the buyer exactly.all right so moving on to section c we.have the property.and you'll notice we have the street.address.but we also have a place for the legal.description.the street address of course is one two.three happy street or anything like that.we know what's really important is this.legal description.and there's a place where you have if.you have it a plat.reference there's the plot book and.slide number.we got a pin or pid number yeah.remind them what the pin uh stands for.so that's the property identification.number.yeah typically a tax type concept and.your bic will show you how to find that.and where to get that information.right and look we even have talking.about the deed book over here at page.there because we know that there are a.lot of recorded documents at the.register of deed so we want to refer to.that recorded deed yeah simply put my uh.my point.on property description is more is.better than less.it nails it down to one definitive.property that's exactly right.okay so our next section is the purchase.price.and that's going to be talking about.well what is it that the buyer is.offering to the seller.right yeah this is where your main.negotiation is going to take place and.keep in mind if that does change keep in.mind the concept of a counter offer so.this is our starting point so to speak.so if i was helping a buyer fill this.out i would start.by putting in a an offer price so maybe.it.is 250 000.that's what i'm offering and then i'm.going to go ahead as a buyer and say.well how much do i want to give you in.due diligence.and how much do i want to give you in.earnest money.so of course there's no set amount of.due diligence or earnest money because.that would be breaking.well it's a breaking what.i was going to say breaking um just the.rules about telling people there have to.be minimums.or normals for anything no there's no.standard.yes no price fixing yep so let's just.say.in this one we want to give how much in.due diligence well i um.i have a theory but the reason i don't.want people to follow my theory is just.simply because once they get in the.field it's crazy depending on where you.are and it's going to be.per transaction basis so please in the.field.get with your mentor get with your.broker in charge for the purposes of.this demonstration we're going to use.a thousand dollars as the due diligence.so this buyer is offering.a thousand dollars in due diligence and.what if we do.2500 in earnest money sounds right okay.so we're going to do 2500.in earnest money anything else you want.to point out about that.only the fact that when i say that.sounds uh about right it's this is.probably the most.asked question that i get in classes how.much should this.be so please understand that is.rhetorical we just needed to have.something.that uh to fill in the blanks here don't.assume that these numbers will always.come up.now i also like to point out here that.this money.if we're talking about the due diligence.fee it is due by the effective date so.by the time you're under contract.and the initial earnest money you get an.option of either giving it with the.offer.or within five days of the effective.date of the contract.and when you're filling this out in real.life you just have to make sure you.check a box there.yes and these dates are extraordinarily.important because your buyer could in.fact be in breach if they are not acting.in accordance with when these delivery.dates are we'll show you that in just a.moment all right now we do have our.other lines.you'll see here that we've got.additional earnest money.and when you get into a training class.you'll find out.when sometimes you'll want to use.initial earnest money monies.sometimes you want additional earnest.monies but if you were going to have.them.you might put it right here and let's.say it was five.hundred dollars now this five hundred.dollars is what we call.time being of the essence which means it.must be in.no later by five than five pm otherwise.the buyer would be.in preach yes yes absolutely and it also.uh must be paid it show them how it must.be paid as well it has to come.either by cash official bank check wire.transfer.or electronic transfer so i.e it cannot.be a personal check no personal checks.here.yeah extraordinarily important that you.act by the time in question and also.in the proper way if your buyer is in.breach it's going to give the seller the.ability to potentially kick them out of.this psi contract.and sell the property to someone else.and in a tight market you don't want to.make a mistake.that's going to allow that to happen.exactly all right well let's move on.the other lines are important but not.for what you all are studying for.on this exam so the assumption the.seller financing builder deposit.that things you'll understand later so.i'm just going to put an.n a in each of these because we don't.want to leave blanks on a contract.and that leaves us with our last line.this last line reads the balance of the.purchase price.so we've said so far hey buyer or i'm.sorry hey.seller i'm offering you 250 000.but i'm also offering you a thousand.dollars in due diligence.i'm offering you twenty five hundred.dollars an initial earnest money.and an additional five hundred dollars.in additional earnest money.so i don't wanna have to bring 250 000.to closing because i'm getting that.thousand that 2500 and that 500 back.i just need to bring the difference so.chris you're the math whiz what are we.at there.looks like we have about three thousand.dollars in i'm sorry four thousand.dollars in uh.credits uh so if the alpha price was 250.we would subtract four thousand which.would be the one thousand plus the.twenty five hundred plus the.five hundred and it would be two hundred.forty six thousand dollars.as the balance of the purchase price.while candace is writing that in there.is actually a form.called a 2g the form we're looking at is.2t it's a transactional form.g is a guideline form and it'll tell you.a little technical features.like this if you have an opportunity to.read that form it'll be helpful.in knowing how the attorneys who drafted.these forms would like them filled out.all right so i think that's good when we.talk about the purchase price.and then our next paragraph is one that.i do think is important.because it talks about what happens if.the buyer doesn't give or they bounce or.something happens to either the due.diligence or the earnest money.remember this contract is not contingent.on a seller receiving due diligence or.earnest money.once they're under contract they're.under contract this paragraph talks.about.what happens if the seller doesn't get.that money.so chris what does it say well i.probably get a question as a broker in.charge on.this topic about once a week and.basically it says if your funds were not.good or.timely what's going to happen is that.you are going to have to.uh well there's actually an action that.has to take place by the seller or the.listing agent.if the funds are not timely or if the.check balances are as dishonored for.some reason.then the seller or the listing agent.realistically.needs to give written notice and keep in.mind if the contract says written notice.it means it does have to be in writing.and not delivered.and then this is the only place in this.contract that you will see the word.banking day the seller will put in.writing hey i need the money.and in fact you must give it to me in.one banking day would you like to.describe what a banking day is as.opposed to a calendar day well a banking.day are the days that banks do business.traditionally that is monday through.friday so.if you've got this request on a sunday.that's not going to help.calendar days are every day banking days.are the days that banks are open yeah in.theory i'll have some people say well.you got to get me the money in 24 hours.or you.have to give it to me by this time or.whatever it's the end of the next.banking day so make sure you understand.this.written notice one banking day and then.if the buyer does not deliver the.funds the seller literally could give.them written notice and kick them out of.this contract.that's right it says right here the.seller shall have the right to terminate.this contract.upon written notice to the buyer if they.fail.to give those funds yeah and while.candace is.moving forward in the contract a quick.story on this and the reason i get.questions about it as a broker and.charge candace.is simply that the listing agents are.coming to me and say hey i don't have.the due diligence money yet.or does that mean we're under contract.the answer to that question is yes you.are in fact.under a contract the buyer's in breach.but there are some remedies to that.breach so you have to take the.appropriate step.the reason the listing agents are asking.me is they want the buyer to be in.breach.so that they can sell to a higher person.they probably got a better better.exactly exactly okay so this next.section this is going to be section e.and i'm telling you this is going to be.important.everything in this paragraph.you need to basically understand and.know.all right so i'm just going to start by.reading it the initial earnest money.deposit the additional earnest money.deposit and any other earnest monies.paid or required to be paid in.connection with this transaction.from here on out we're just going to.call those earnest money deposit.and i point that out because sometimes.i've had students get confused because.they're like oh well they didn't say if.it was.initial or additional after this point.anytime you see the words.earnest money deposit which i sometimes.call the emd.we just mean any earnest monies that you.get correct correct.it's what's known as a defined term and.if you look at it at the.beginning of the paragraph earnest money.and deposit is defined as those.things that i can just mention so it's.okay at that point to call it the.capital e capital m capital d earnest.money deposit.and then those monies shall be deposited.and held in escrow by an escrow agent.until closing.right and then it's going to be credited.to the buyer.so as long as the buyer buys the house.they will get their earnest money back.as a credit.at the time of closing slash settlement.right.okay now there is an ore right here i.don't know if you notice that chris well.i know you noticed it.but that ore says oh there's another.time that you could get it back and.that's.if the contract is otherwise.terminated right so that's.uh means if you terminate the contract.you got to figure out what's going to.happen.with the earnest money we don't want it.to stay in.escrow limbo forever and ever and ever.right.correct and this as you continue down in.this paragraph it's going to tell you.what's going to happen to the earnest.money now having said that.if you want to play amateur attorney.right here you actually get to see how.smart you are because some of this stuff.is actually intuitive.now the only thing i would say is it's.not you determining whether the earnest.money is going to go back there will be.a broker in charge.and there will be appropriate.documentation but what it says over the.next several.sentences is actually fairly intuitive.about what should happen.so let's say i'm a buyer i've turned in.an earnest money deposit.with my offer if the offer is not.accepted.i want that money back right or.if a condition of in any of the.conditions in the contract are not.satisfied.i want my earnest money back as a buyer.right yeah now sometimes the seller.could breach.and if there's a breach by the seller.then the earnest money deposit needs to.be refunded.but back to the buyer as well and.if the buyer still wants the house they.could sue.the seller and they could maybe ask for.something.like specific performance uh possibly so.or uh damages uh interesting both of the.points that we just made um i always.like to relate the contract back to.something we talked into the.talk about in class and basically the.buyer could expose.compensatory damages right they could be.compensated or they could get specific.performance.exactly all right i want to highlight.our next part in a different color.because it is so important we've talked.about what happens if the seller.breaches.the buyer should get back their money or.if the buyer buys the house.the buyer should get back their money.but what happens if the buyer breaches.chris.well what's going to happen if the buyer.breaches now keep in mind it's.interesting that the buyer.technically cannot breach during due.diligence that is true.so they can only breach after due.diligence has passed and let's say the.buyer just changed their mind to make it.very very simple.this contract is very specific about.what happens to the earnest money if the.buyer breaches.and that's that the seller should.receive those monies as.liquidated damages and again we talked.about this in contract remedies.liquidated damages the damages will be.liquidated.at the earnest money so if the buyer.breaches.seller how much is the seller getting.this seller they're getting their.liquidated damages or their earnest.money in this case that was.what was it 25.25 well plus.and then that's all they're getting is.the three thousand dollar seller there's.no sense in suing the buyer and trying.to get more.so i like to point out right here it.says you know what.if the buyer breaches the seller gets.that earnest money.as their sole and exclusive remedy for.that breach.meaning seller when you choose or agree.on an earnest money amount or.due diligence amount that's all you get.it better be.enough to make you happy and go to sleep.at night i think that bears some.explanation when you're in the field and.talking to a.seller that hey literally up until the.time of closing.if the buyer walks away that's it that's.all you're getting so make sure it is a.number that they'll be happy with.if the buyer walks away i definitely.agree and then this paragraph which is.full of so much good stuff it points out.at the end.if there's any legal proceedings if.anybody sue.somebody because they were supposed to.get their earnest money and they didn't.get it.the person who loses is paying for the.court costs and the attorney fees.correct right so that i think that.summed that up pretty well yes.yeah you're right that is a very.important paragraph okay.so our next paragraph is the escrow.agent.and this is setting up who's going to.hold.the earnest money a lot of times in our.pre-licensing class we just assume.that it's going to be the listing.agent's firm.but does it have to be no it doesn't.have to be and it's interesting when you.look closely at the.agency agreements the listing agreement.actually says that it'll be the listing.firm.unless otherwise stated in the contract.so.oftentimes you see that it is otherwise.stated in the contract and oftentimes.it's an attorney.that will hold the form either of these.are okay.hey chris did you notice that there's.this blue paragraph underneath.and what it's basically saying is you.know what.if there is any disagreement on the.earnest monies or about the earnest.monies.we whether it's us as the listing agent.or the attorney.we cannot disperse them so if somebody.wants their earnest monies back.whether it's the seller because the.buyer is breached or the buyer wants.their earnest money back because they've.walked away during due diligence.in that little note it says hey these.monies are going to be held up until.there's agreement.yeah this used to be a big big deal but.notice the sentence that uh.candice had highlighted just a moment.ago that uh we have what we call the big.stick in the uh contract now and what it.says is hey look if you're going to.bring.suit against somebody you better be.right because if you're wrong.you're going to end up having to pay.your fees and their fees so we don't.have any.as many disputes as we used to having.said that.what this paragraph literally says is in.the event of a dispute kenneth do you.mind just a circle of the word dispute.there.because i want everyone to understand.that look if if everything goes well.then the fact of the matter is that uh.if the buyer breaches the seller gets it.if the seller beats you the buyer it's.only in the event of a dispute.that what's going to happen is we're.going to have to hold these earnest.monies and what i mean by we is your.broker in charge or the escrow agent.we're going to hold these earnest monies.until we get a written agreement.of the parties now again if it says.written it must be.in right and agreed to signed by both.parties written agreement at the parties.if a court tells us what to do with it.then we will disburse it according to a.court of competent jurisdiction.and then there is a third remedy as well.where we will simply hold the money.we will give both parties notice and.then we'll hold the money for 90 days at.that point if there's.no agreement we'll just turn it over to.the clerk of court and then fight it out.with the clerk accord at that time.did you know if they don't go for that.money after a certain amount of time and.i don't remember the number of days.then it basically goes to the state yeah.a.vocabulary word that we have early on.that it shoots to the center sheets to.the state.all right so our next section and i'll.move our contract up here.our next section is really important.because it is a part of our licensing.law.we know that we've got to tell people.what happens.with any interest if you're putting your.escrow monies into an interest-bearing.trust account.so notice this entire paragraph is.caps and it says you know what this is.going to be in an interest bearing trust.account.and we're going to keep the interest.yeah it's a.to take it back to license law the.question is simply this can a firm have.an interest bearing trust account the.answer is.yes they can as long as they have.permission of the uh parties and that's.what we're getting in this placement and.it's right there.yep perfect okay tell us about section g.chris.you know it's got some very interesting.language as you go through it but i'd.like to brief it and just be as simple.as possible.the effective date of this contract and.notice again it's a defined term.the effective date is defined not when.an offer is made.not when it's accepted but when it is.offered accepted.and communicated back to the offering.party.so we uh we did this exercise in.agency class as well but when the buyer.makes an.offer they could terminate that offer.literally at any time.that is true yeah anytime prior to being.told they're under contract.right now when the seller signs it.technically it's still not a contract in.most cases.until it has been communicated back to.the offering party.so if we had to sum that up what we're.saying is here.is the language in the contract that.says we.are not under contract until all parties.have signed or initialed any changed if.there's a counteroffer.and the last person who signed or.initialed.tells somebody on the other side side.that they have signed and initialed.until we have that communication we do.not have a contract.and that effective date is going to be.the date of that communication.so if i'm a buyer and you're a seller if.i give you an offer on friday night.you sign it friday night but you don't.tell me that you've signed it until.saturday morning.our effective date would be saturday.that's correct.and the reason that's important think.back to page one when candace said that.the due diligence money is due on the.effective date of the contract which.means you would have to have that due.diligence money.by saturday correct now again you're.going to get training classes hopefully.and when you do you'll have discussions.about how to give the due diligence when.should i give it.all of those things will be answered in.a training this is just about the test.and for the test.it is imperative you understand that you.are not under contract until.all the parties have signed and.everybody knows.or really that the other side has said.yay we've signed and now we have an.effective date.perfect all right can we move on to due.diligence yes and i don't know about you.but i.actually take the next three paragraphs.together i actually was going to say the.same thing.so i will go ahead and put them in a.different color.we know that we have due diligence.due diligence fee and the due diligence.period so chris.hit us up with that okay well notice in.the first part there it just simply.describes what due diligence is.and for simplicity uh simplicity's sake.let's just simply say that it is the.buyer's right to do investigations on.the property.or not for that matter they can choose.not to yeah because that's.in it's their choice right and then when.you get to the due diligence fee i want.you to think of the due diligence fee.as an exchange of money for time of.consideration.for our time so the fee is a fee that is.paid.to give the buyer a period which you'll.see in the next paragraph.to do the investigations mentioned above.exactly.it's a negotiate negotiated amount if.any so it could be.zero couldn't it could right paid by.buyer.to the seller with this contract for the.buyer's right to terminate.the contract for any reason or no reason.during the due diligence period.so really they are buying an amount of.time and within that time period.they have gotten the right to cancel or.terminate.for any reason or no reason whatsoever.give me an example of a reason why they.might terminate.uh maybe there's a huge foundation issue.and even though the seller's willing to.fix it they just don't want a house with.an issue.give me an example of no reason i woke.up this morning it was a bad hair day.and i don't want to buy your house.and what did that cost them to walk away.in order to walk away it's going to cost.me as the buyer.the due diligence monies but i would get.back my earnest monies perfect.all right the only other thing i think.that somebody needs to.make sure they understand is that.there is there is going to be an.effective date.there's going to be this due diligence.period with time being of the essence.and it's during that due diligence.period that starts on the effective date.that a buyer wants to do all their due.diligence or do their inspections.i know we're going to talk about it.later but i'd just like to say it.up front while they're buying that time.and they're buying the right to walk.away.you want to make sure your buyer.understands they need to do inspections.yes yeah now they're under no obligation.to do it of course but they lose all.their leverage.after the due diligence period expires.so it makes sense to do it within that.period of time and that's 5 pm.time being of the essence anything else.you want to add about due diligence i.know we'll see it again.later yeah only that that that is a big.deal and understanding the language.understanding that its time is of the.essence and understanding what the buyer.will lose or not lose based on their.actions.i mean that's why it's in carolina blue.because it's so important there you go.all right so moving on we've got two.words here we've got.settlement and settlement date they are.important but we're not going to put.them in our carolina blue we'll put them.back in green.so settlement settlement date and then.i'm just going to scoot up a little bit.you've got closing because i know in the.real world we tend to use these words.interchangeably but chris are they the.same.no settlement's a process settlement is.the process when you're collecting.documents the attorney's collecting.documents they're doing uh title.investigations.and things like that settlement date.this one everybody's getting together or.signing the uh.documents you may do a little party.right right you may do it together you.could do it remotely i mean this.these are just uh the date that we're.shooting.on that we hope the exchange of the.property is going to take place.but when we get to closing closing is a.big deal yes.because when we say closing we don't.mean just oh.all of us got together at the settlement.table what we mean is.okay we've had settlement right then.there was another title search that the.buyer's attorney does.then we have to make sure the closing.attorney got permission to disperse the.funds.and then they record they are definitely.going to have to record and i'll put.this here.recordation they've got to record.and until we record we do not have a.closing.yeah it's a uh i like to say just to.keep it short.that closing is defined as date and time.of recordation.of deed all that other stuff is.interesting but until it's recorded we.have not exchanged possession of the.property and i don't know if you do it.at this point i can this but i always.have people write in their notes right.here the law that is talking about a.little bit farther in the.paragraph is the good fund settlement.act.i'll just make a note here it is the.good.funds settlement act settlement.act and it just supports the idea that.don't disburse funds.until appropriate settlement has.occurred exactly i'm sorry appropriate.closing as well.i know what you meant thank you okay now.this it's in red.so we should talk about it chris do i.have to be an attorney to hold a closing.in the state no interestingly enough you.do not have to be an attorney however.however big however yeah the state party.the state bar is making a comment here.that they believe certain work must be.done by.an attorney as it is a legal action.so in story here let the attorneys do.the closing and settlements.people don't take on that responsibility.perfect.right so we've got some more words we.need to define.so we're going to go with assessments if.you had to explain assessments what.would you say chris.i would say it's a tax levy for a.one-time improvement.it could be a uh it could be a public.government entity it could be an.hoa type entity but it's an assessment.for.or a levy for a one-time improvement and.we have two different types of.assessments in this contract.our proposed special assessments and our.confirmed special assessments.proposed means we're still waiting to.find out if it's definitely happening.confirmed is it's definitely happening.regardless of when it's due.we know that money is important and i'll.point out later in the contract.where that is now beginning with the uh.fixtures and exclusions uh.paragraph now at this point this should.not be a mystery to you notice that.we're in the offer to purchase now.but this will mimic the same paragraph.that we had in the listing agreement.we've already had a conversation with.the seller.about these items and here's the deal if.the contract says it's a fixture then it.is in fact.a fixture uh one interesting thing to.put out you do not have to if there's.if the seller doesn't have one of these.items for example a generator.uh you don't have to mark it out it says.the following items if any and if owned.by the seller.exactly but otherwise they're going to.go with the home.and if they would like to keep any of.the fixtures.what would they do in that case if you.go up a couple of pages or just say.really a page.you're going to see other items that do.not convey.so if the seller has items they do not.want to leave that would be considered a.fixture from the previous page.we're going to go ahead and put them.here.yeah can you give an example you know.what i can let me scroll back.and you'll notice right here that it.talks about.mirrors so notice it says mirrors.attached to the walls ceilings cabinets.and doors.cabinets or doors and all bathroom wall.mirrors.you know i actually had a deal once.where the seller did not want to leave.their bathroom mirrors.so if that was the case we're going to.go ahead and write in.other items that do not convey and we.could just write.bathroom mirrors now i know in real life.i would probably want to be more.specific but for right now.i think that works yes and the.experience i've had have involved things.like.chandeliers and other light fixtures the.exact type of thing that we talk about.in class.so let's say uh can i spell chandelier.shandy leer.well if that's not right you can you.know sue me later.all right let's move on to personal.property because it does.kind of similarly go we know our.fixtures.are personal property that have been.permanently attached.to our real property so it's going to.convey with the real property.our personal property is anything that's.not real property.and sometimes the seller wants to leave.those things give me an example chris.yeah you know what i'd rather get.creative here i'm going to use the most.popular example it's probably the.refrigerator.okay in most cases the refrigerator is.not a built-in.so it would be personal property and.oftentimes the buyer wants it if the.buyer wants it.he better ask for it in that paragraph.right there regardless of what the mls.says and sometimes i'll see.washer dryer here very popular as well.yep and notice if you don't mind.underlining that they are at no value it.collects.about to say that at no value so there.can't be.any value oh well we'll give you 251 if.you leave the refrigerator.but 250 if you don't nope this is no.value.correct it becomes a big deal in.underwriting for a lender if they see a.lot of.personal property stacked up there.lenders are loaning money on a home.not a loan and not on a home and a bunch.of accessory.personal property exactly okay let's.move to.section four our buyer's due diligence.process.now we did just talk about this and i'm.going to go ahead and put it back in our.carolina blue because it's that.important.this buyer's due diligence process and.it says.warning it even starts with warning.buyer is strongly encouraged to conduct.due diligence during the due diligence.period.meaning buyer if you want to know.anything about the house now is the time.to find.out okay yeah this paragraph while it is.really really important i.actually go over it fairly quickly and.pre-license and here's why.a really good agent was already.recommending that these items be done.you'll notice as we go down below that.there's a list of investigations that.the buyer should probably consider.but what the attorneys thought was by.included in the contract.that buyers would look at and say oh.it's very important to get that done.so it's really to support agents is what.it amounts to but yeah.buyer do these things do it during this.time frame and.let's say i'm a buyer chris and you're.the seller and something happened i had.a family emergency.and my three week due diligence period.is now down to four days and i haven't.gotten a home inspection.do you have to extend it no the sellers.are under no obligation to extend.they want to do it prior to the.aspiration of due diligence and the.seller's not.obligated to grant an extension correct.i get this question a lot as a.broker in charge the end of my due.diligence period is coming up and the.seller has not.uh responded what do you think i should.do i say well the seller has responded.they're saying they're not.fixing anything that's what you should.consider exactly now a seller could.choose to.respond and for that they use the.agreement to amend.but a seller does not have to respond or.fix anything.and they can drag their feet there's.nothing you can do about a buyer except.walk away before the due diligence if.you want that earnest money back.because if you walk away after that due.diligence period which is time being of.the essence you will.lose that earnest money and the due.diligence money yeah interestingly.enough i have a lot of.agents who will write in this contract.that they will say the house is being.purchased as.is well always was all houses are.purchased as is.if you can negotiate repairs that is.awesome having said that you can't.assume that you can negotiate repairs.exactly all right let's move on so we.can get out of our favorite.blue go back to green and we'll point.out that okay the.buyer is going to want to get a loan or.basically if they're going to get a loan.make sure that during the due diligence.period.they've gotten as much information as.possible to find out.if they can in fact be approved.yeah years ago this was a change in the.uh contract uh.contracts what 10 12 years ago used to.be contingent.upon your ability to obtain a loan but.now it is.not contingent on obtaining a loan so if.you find out after your due diligence.that it doesn't appraise.buyer if you can't buy the house you're.losing your.earnest money if it's after due.diligence there no longer is a.contingency.exactly all right in our next section.as you see and i'll scroll it up here we.have.well here are some things that the buyer.could look at.during due diligence so these are going.to be our property investigations.they are going to of course inspect.whether it's just the condition of the.house.you know pests anything like that.they want to review any kind of.documents and what kind of documents.would they.be reviewing well it talks a little bit.in here about owner association.documents i will warn you that in the.field i'd be highly.careful with this because let's say that.you know that your.client has a boat that they're going to.park at the house you know that they.have a work vehicle they're going to.park at the house.you may want to investigate that.literally before.making the offer because in most cases.that's not going to be allowed in a.subdivision and i would hate for them to.have due diligence on the line.if it's something you could have figured.out before exactly.they're going to take a look at.insurance of course if it appraises.um do you suggest that buyers get.surveys.i recommend uh 100 of the time you need.to.let me rephrase that maybe not on a.condo but outside of a.condo i recommend it 100 at a time.because any encroachments would be found.on that survey that's right and they.come up so often.zoning in governmental regulations so.are there any zoning rules or ordinances.that would stop the buyer from doing.something they wanted.of course we know it's a material fact.whether or not it's in a flood hazard.you know do they have utilities and.what's the access how much are those.utilities.and we also know we have to just.disclose whether or not the streets are.publicly.or privately maintained yeah so if you.remember back in uh.chapter two or three we spent a lot of.time talking about the significance of.this and it's an issue that has uh.raised its head a lot of times in the.last several years so.it continues to show up in our contracts.hey buyer check it out.it could be important could be important.to your financing could be important.important to future maintenance of the.road exactly and then last but certainly.not least is this fuel tank.we just want to say officer fuel tank.what's in it who's you know of course.the contract says.if there's any fuel in it at closing.that belongs to the buyer but what does.the seller want to do.and maybe it's a rented fuel tank so we.got to talk about that.make sure that you do your inspections.buyer on what's going on with the fuel.tank.and then i'm going to move on that you.notice that section.d says repair improvements negotiations.and agreement.i think we've already covered this the.property is being sold.in its then current condition so the.seller doesn't.have to fix anything the seller is under.no obligation to tell the buyer about.anything in the house.this due diligence period is gives the.buyer the opportunity to.try to negotiate some repairs and if.they don't like.any of the answers they get sorry for.you the house is sold as is.and you should walk away before the end.of your due diligence buyer.that's right it just simply repeats the.fact that it's been a theme.of this do your diligence if you choose.to do it during the due diligence period.when you have the most.strength and then either stay or walk.uh during that time we'll get to the.buyer's right to terminate in just a.moment.in fact i'm going to go very quickly and.just say you know what buyer while.you're inspecting the house if you break.it.you fix it right i'm going to jump down.to buyer's right to terminate because.you just talked about this.the buyer shall have the right to.terminate this contract for any reason.or no reason.by delivering to the seller and you keep.pointing out our.written notice of termination during the.due diligence period.okay so you buyer have the right to.terminate as long as you do so.before the end of the due diligence.period.time being of the essence and remind us.again what time being of the essence.means.that means actions that our time is of.the essence.must happen on or before that particular.date.we've talked about two times of the.essence periods in our contract so far.additional earnest money which doesn't.involve a lot of clarification.but the due diligence period is in fact.not only is it times of the essence but.it's five o'clock.on the due diligence date so act by that.time or lose your right to act.and then when the buyer buys the house.you know what it's yours.as is where is it's yours.however it is of that day it's my.favorite line in the whole contract.closing.constitutes acceptance this is not.property management buyer this is now.your house.any questions about any of that in that.section about the due diligence chris.anything you want to add.not really i'd like to say it's a great.starter checklist if you're a new agent.and you need a starter check list it.gives you an idea of what the buyers.should be doing during due diligence.so i'm going to scoot us on up to this.buyer representation.section what are you thinking about this.chris.well the first thing that comes up under.buyer representations and i'd like you.to pay attention in this contract.there's a difference between a.representation and an.obligation a representation is just.simply something simply that you are.saying hey this is what i believe to be.uh.true and the first thing that comes up.here is the loan.now uh to relate it to something we've.talked about in class.i believe that the buyers loan if they.have to get one.is a material fact that the seller.should be aware if i'm selling my 250.000.house i want to know that you have the.ability to come up with 250 000.and this is where we show it to this i.agree and i think the um people who.wrote this contract do too.because there is a section here where.you have to as the buyer admit whether.you do.or don't have to sell or lease other.real property.in order to get this house so we don't.have a contingent contract or anything.like that anymore in north carolina.but a buyer must be honest about whether.or not.they can buy the house without having to.sell.another home yeah and while these.questions look tricky.your buyer will will be looking uh.excuse me working closely with a lender.and you will have access to that.information if you ask buyer they'll.give this to you so you'll know how to.fill in the blanks.of this it won't be a mystery yeah and i.mean the rest of this little section is.just talking about.hey buyer if you do have to sell a house.is it under contract or is it not under.contract and just give us.some more information because at the end.of the day.this contract is not conditioned upon.the sale or lease or closing of a.buyer's.other property yeah think about this.candace if i am a seller.and i get uh three offers isn't it uh.significant how the buyer is going to.pay for my house.for me to consider which one is the.strongest would i rather have a cash.deal or somebody getting 100.financing or somebody who's only needing.to borrow half of the money.who knows so the seller definitely wants.to know and a buyer cannot lie.in this section they have to at least.say if i can't buy the house without.doing.something getting a loan here you need.to know true.i'm gonna scoot on up and let's get to.this residential property owners.association disclosure statement.chris what do you tend to call this and.i do too the rpod.the rpods because residential property.owners association disclosure statement.the rpos.right and we say it eight thousand times.a day oh my gosh do we.so i'm gonna let you sum it up well at.this part we're just simply.acknowledging whether the buyer.received these forms a diligent listing.agent would have posted these on the mls.and so that the buyer can pull them down.the buyer's agent of course.can pull them down and give them to the.buyer now the important part about this.is.even as a buyer's agent i want my client.to receive these.so that i can check the box off here.that says that they received it.because if a buyer does not receive.these before they make the offer they're.going to be entitled to a three-day.writer decision.so let's get let's get them the.information let's have them be able to.check.box number one and let's eliminate this.ability to walk away for uh.for lack of uh receiving the r or the uh.mod very simple to accomplish now i know.we talk about the r pods in a different.section.like a class absolutely but there is.that three day period.and it's not just three days it's either.three days from when they got under.contract.three days from when they received it or.three days or up until closing or move.in.i don't want to go into detail right now.but they do have that three-day period.to walk away.right and very similar to that we have.our mog or our mineral.oil and gas rights disclosure statement.which is.very similar except the seller is saying.whether they have.um sold off or given off the mineral oil.or gas rights.or if they intend to and again if that.buyer does not receive a copy before.they make an.offer then they have that three-day.period to get out.again a buyer should receive this before.they make an.offer this three days is only if they.don't have it so we really do want that.buyer.to go ahead and be able to check the.first boxes.correct and uh again a different lecture.here but while on new homes the rpod.would not be.required the mog would be required if it.was a new home as well as.most resales exactly all right can we.move on to the next absolutely please.that's going to be our buyer obligations.and as you pointed out.before we had sorry about that.before we had our buyer representations.and now we have our buyer obligations.this is what the buyers obligated to do.they are obligated to pay for the.proposed special assessments.there are some things they have to pay.for at closing.or i should say settlement so anything.having to do with the loan.if there's going to be an appraisal.title search.title insurance recording the deed if.there's any paperwork that needs to be.done so that they can get a loan.i mean anything else that's really.important not really other than the fact.that these are things associated with.the buyers diligence so.common sense would say that the buyer.would pay for them the buyers.responsible for paying for all the.inspections.yeah before you do roll forward though i.want to remind you make sure you know.the definition of a proposed.special assessment remember as we said.earlier this is formal consideration.and so i would treat it as a material.fact the buyer has a right to know that.there's a proposed one coming.these are not rumors or in your window.these are under formal consideration but.not yet.confirmed all right moving on.our section server seven we've now moved.on to our seller.representations so our seller needs to.say.how long have they owned the house if.the house is built before.1978 they need to give a lead-based.paint.addendum right and the seller needs to.point out whether or not they know there.are any.proposed or confirmed assessments.you want to add anything there just to.wrap up what we started just a moment.ago.a confirmed special assessment please.note that is paid.by the seller if it occurs if it is.confirmed at any point prior to the.closing so the buyer takes the property.subject to propose.but the seller pays for confirmed i.would highly imagine.that that will show up again at some.point we're going to move on.and see where the owner gives permission.for the.buyer the buyer's agent the attorney to.find out what they need.about the owners association and there's.information they can fill out about who.to contact.but this also you're going to see this.information on the r pods as well.that's right okay and after our seller.what am i trying to say representation.after our seller representations you.have our seller.obligations so there's one section here.that i think is so important so i'm.going to go quickly to it i mean i.do want to recognize that the seller has.to give.reasonable access to the property they.have to remove.their personal property and their.garbage but.really the one that i love and so.important.is a section g the good title and legal.access.and that says the seller shall execute.and deliver.a general warranty deed for the property.and recordable form.no later than settlement which sell.convey fee simple marketable and.insurable title.without exception for mechanics liens.and free of.any other liens encumbrances or defects.including those that would be revealed.by a current and accurate survey of the.property.except ad valorem taxes utility.easements.and unviolated covenants conditions and.restrictions.that do not materially affect the value.of the property.that's a mouthful so what does that all.mean chris well it is very important.going back to the name of the uh.the the provision was seller obligations.the significance here is if they can't.do all of what candice just read.then the seller would be in breach and.as we talked about in the earnest money.paragraph what's going to happen if the.seller is in breach.they're going to have to give the buyer.back their earnest money their due.diligence money.and then also it'll talk in just a.moment that the seller would also.be responsible for returning to the.buyer any monies that they have spent in.an effort to acquire the property.hey it's your fault you can't deliver.title so you need to make it right with.the buyer.all right i did jump to that section was.there anything else that you wanted to.hit on i mean we talked about removing.the seller's property.they have to give access oh i do want to.say that the seller.is obligated to provide existing.utilities at their cost.up until closing so the buyer has to be.able to do inspections.true true all right let's move on then.so the seller has to pay and you're.going to want to remember this for.settlement statements closings closing.disclosures they pay for.preparation of the deed right and.they're going to pay for.county excise taxes any kind of local.fees that are going to need to be paid.correct.yes and like you said this will come up.again when we start doing the closing.statements there will only be a few.things.on the seller's side and we're defining.some of them here.if the buyer wants the seller to pay any.closing costs.then that would go here in this section.and notice.you could just put in an amount whatever.that may be.i would encourage you to be careful with.this in the field not so much for uh.test purposes i get a lot of questions.about well how much is that number.completely negotiable.completely negotiable there's no.compelling reason that there be.any but if the buyer needs them and.request them that's where they do it.i'm going to scroll up our contract here.and i want to jump to.payment of confirmed assessments because.as you just mentioned chris.the seller is responsible for all.confirmed assessments.the buyers responsible for any proposed.right.and if there are any repairs that the.seller agreed to do.they must be done in a good and.workmanlike manner.perfect right now chris will you talk.about this seller's failure to bri.to comply or if they breach well i'm.sorry i bumped into this just a moment.ago.but basically this was the conversation.about the fact that.all of these things all these.obligations that we just mentioned.if the seller is unable to perform those.they are in breach.and the penalties of breach are that the.buyer may terminate.and if the buyer does terminate they get.back earnest money due diligence.and of course they would get back those.items that they have spent in an effort.to acquire the property such as.inspections appraisals surveys etc.so our next section is prorations and.adjustments and prorations happen a lot.on this test as far as math is.considered.concerned right yeah on this section i.don't spend a whole lot of time talking.about it.during the contract because what will.happen is when we start.doing our closing statements one of the.things that i will mention is that hey.this is a dress why do we.prorate taxes on a calendar year basis.because it tells us to in the.contract so our real property taxes are.prorated.our rents if there are any if you're.somebody's buying a house that's already.rented.the new owner is going to have to honor.those leases so.we need to split those rents if there's.any owners association dues that we need.to split.those things need to be prorated and who.pays the day of closing.it is the seller the seller is.responsible for the day to close.sometimes he pays it sometimes it's a.benefit.and rents it actually ends up benefiting.the seller yeah.all right on our next page we've got.questions about.whether or not the seller is going to.give a home warranty.or is not going to give a home warranty.either way just fill in the information.as needed and then a big section is this.risk of loss and condition of property.at closing.go for it chris well it's very simply.put but it has a lot of.issues that could arise uh very simply.the seller is responsible for the.property.up until the time of eye closing and.closing is.recording date and time of recreation of.uh deed now think about this for just a.moment.what if the buyer moves in earlier by.your possession prior to i close it the.seller's still responsible the contract.says so.what if the seller stays in the property.after closing a seller possession after.closing well.at closing possession change so the.buyer would now be.responsible it's not something we want.to take lightly definitely if you have a.buyer moving in.early or a seller's staying later talk.to an attorney about what that means and.make sure the buyer.understands it's not their house until.after closing.it records and seller after it records.is no longer yours so talk about.insurance and all of those things bingo.this is the type of question that.blends two chapters and so insurance.would clearly come up in a question.involving this exactly.okay let's talk about this delay in.settlement and maybe the first thing i.want to talk about is you'll notice in.this paragraph.there are some words that aren't here.which is time being of the essence.closing that settlement date that.closing is not.time being of the essence and this.paragraph.basically if i had to sum it up says.look.we'll allow either party to have for a.14-day.window between when they said they.wanted settlement to be.and when it actually happens we're going.to give you a 14.day ish kind of like when i say hey you.want to meet me for lunch at 12 chris.it's 12 ish we're giving a 14 day ish.period now the buyers should not go into.a contract planning to use the 14 days.they should in fact.act in uh good faith and after the 14.day period they will in breach.be in bridge if they do not close but.because the closing date was not.or the settlement date was not time is.of the essence.what we've done is defined what we.consider to be a reasonable period of.time.14 days 14 days okay and we just.mentioned this that.hey possession does not happen until.after closing.so if there's a delay in settlement.buyer your possession.is going to be delayed because buyer you.don't get possession.until after closing unless we go through.and we make other arrangements.yeah and there's a form for that as.we'll say that's what i tell my class.exactly if possession is anything other.than closing.we have a form for that in fact i like.to point out that we have.all of these other addenda that we can.talk about at another time.but there's different agenda that we.might add maybe like an fha va.um we talked about the lead-based paint.right now is not the time to get into it.but there are definitely some addenda.that you should recognize.yeah and you'll notice in the paragraph.below that that the brokers do not draft.these contracts they do not draft these.provisions look first to see if we have.one drafted by an attorney.and once we do have a an addenda or a.contract available all we do is fill in.the blanks perfect.okay so i think we're towards the end.now.we know that this offer to purchasing.contract cannot be assigned.unless you have written consent of all.the parties.if it's a 1031 tax deferred exchange.the buyer and seller are agreeing to.cooperate and very quickly.a 1031 deferred tax tax deferred.exchange just means.whoever selling the property or buying.the property.is really got some tax benefits going on.and the other party wants to make sure.that they're not gonna have to pay for.anything else.correct yeah i just refer to it as a tax.strategy for an investment.uh property and obviously the one doing.the exchange.should be responsible for the cost.section 17 are parties and we already.know that our parties are the buyer and.seller.but also the buyer and seller and their.respective heirs.successors and assigns most importantly.i want to say the word.heirs termination of a contract does not.happen.simply because a buyer or seller dies.once a person is under contract using.this offer to purchase and contract to t.then their heirs are also responsible.for following through.you clearly are going to get tested on.this what happens to an offer when.someone dies what happens to an agency.agreement when someone dies what happens.to.a contract when someone dies and in the.contract.if someone dies their heirs have.responsibilities based on the language.here.exactly so i want to point out.that this is the entire agreement it.helps if i give us the right color here.this is the entire agreement so anything.that we want to change.add delete must be in writing and signed.by.all the parties right yeah we have a.concept referred to as the parole.evidence rule that says the written word.will always.take priority over any unwritten.agreement to the contrary and.and this is being repeated right here.exactly and i'm going to move.on and remember you talked about days.computations of.days and time so we mean.consecutive calendar days including.saturday sundays and holidays whether.fate.federal state local or religious except.for that one.on page one that one place where we said.banking days.for how many days the buyer has to get.good funds to the seller.that's right in the event that their due.diligence check bounces for example.exactly all right so this.is the end of the contract and you'll.notice we've got a place for the buyers.to sign.and the sellers to sign you've got some.dates.and possibly maybe it's an entity like.an llc or corporation that's buying and.selling.then you have a place for them to sign.on behalf of that corporation.the only thing that i would add about.the signatures is if there's two sellers.on page one there needs to be two.sellers here.two buyers et cetera et cetera otherwise.it's incomplete and possibly not.binding so be careful with that great.point great point.okay so the wire fraud warning tell us.about that chris.well because wire fraud has been so.prevalent over the uh.in the industry the past several years.in all of our documents notice the.consistency with this.agency agreements and now you're seeing.it in the contract as well.hey buyers and sellers you'd be very.very careful when you're wiring funds i.will not send you an email.with wiring instructors you need to talk.to the attorney.about how to wire those funds very good.all right our page 13 is our notice.information so this is where an.agent is saying you know any of these.places any of this information i fill.out.is where you can tell me hey we're under.contract or not under contract.remember if you are an agent and you put.a buyer.or seller's information in here you're.saying.it's okay to reach them directly but.have a conversation with your bic.as to how you want to handle that and i.want to also point out that there's a.place for.the agent's license numbers why is that.there chris.well it's a uh is it a commission rule.it is a commission rule.is it a commission room it is on the.agency agreements but i don't think it.is.okay well it's still important even if.it's not a commission rule that you have.it there.and you do have to mark that if it's.going to be a designated dual.agent if that is what's happening and.notice the firm has to talk about.whether or not they are a dual agent.right.and so then we roll on to the very last.page which actually isn't part of our.contract per se.it's just where people can acknowledge.if they receive due diligence fee.maybe you're the listing agent and you.got due diligence fee or maybe you're.the seller saying i got the due.diligence fee from somebody.and then of course with our escrow agent.acknowledging whether they got.initial earnest money or additional.earnest money.i suspect your broker in charge will.give you some clear instructions.on this because anytime you touch money.it needs to be accounted for and this is.a great way to do it.exactly so i can't believe it did chris.we went through all 14 pages and we hit.everything any pre-licensing student.would reasonably probably need to know.for this test.anything you want to add just this.there's no way you can memorize these.contracts actually you wouldn't do you.ain't good to memorize them because they.always change on youtube this one's.going to change.come this july of 2020 right so related.to something you talked about in.class understand how to uh fill it out.your clients deserve at least some.guidance.on how to fill the form out if it's a.technical.issue that gets over your head you're.clearly going to consult an attorney.exactly all right well this has been.great and we'll see you next time.thank you.

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  3. Direct to the Inbox and find the email containing the paper you need to sign.
  4. On the sidebar, you will find the button 'Sign'; click it and generate your personalize e-signature.
  5. Once you select 'Done,' the signature will be completed, and the signed document will be automatically saved in a draft email generated by the CocoSign software.

Saving time was the primary concern behind the efforts made by CocoSign to develop a secure and safe software that can allow you to waive signing docs with pen.

Once you try the software, you will immediately become one of the many satisfied clients who are enjoying the advantages of e-signing their documents right from their Gmail account.

How to create an e-signature for the Offer To Purchase And Contract Form straight from your smartphone?

Smartphones and tablets are so evolved recently, that you can utilize them for anything what you can do on your laptop and PC. That's why more and more people are finishing work task from these mobile devices, saving even more time.

It's also a huge benefit work from home. As long as your internet connection is stable, you can conduct your business from anywhere.

When you need to sign a Offer To Purchase And Contract Form , and you're not in the office, the CocoSign web application is the answer. Signing and sending a legally binding document will take seconds. Here is what you need to do to sign a document on your phone online:

  1. Use your browser to go to CocoSign and log in. If you don't already have an account, you need to register.
  2. Discover the document that needs to be signed on the device and open it.
  3. Open the document and go to the page to insert your esignature.
  4. Select on 'My Signature'.
  5. Create your designed signature, then download it on the page.
  6. Once you have done, go over it again, select 'Done'.

All these tips won't take long, and once the document is signed, you decide the next step. You can either download it to the device or share it in an email or using a link.

A significant benefit of CocoSign is that you can use it with with any mobile device, regardless of the operating system. It's the ideal method, and it saves cost, it's safe.

How to create an e-signature for the Offer To Purchase And Contract Form on iOS?

Creating an electronic signature on a iPhone is not at all hard. You can sign the Offer To Purchase And Contract Form on your iPhone or iPad, using a PDF file. You will find the application CocoSign has created especially for iOS users. Just go to search CocoSign.

These are the tips you need to sign the form right from your iPhone or iPad:

  1. Download the CocoSign app on your iOS device.
  2. With your email to generate an account, or sign in with Google or Facebook.
  3. Discover the PDF that needs to be signed on the iPhone or pull it from the cloud.
  4. Discover the place where you want to add the signature; select 'Insert initials' and 'Insert signature'.
  5. Put down your initials or signature, place them correctly, and save changes to the document.

Once finished, the document is ready for the next step. You can download it to your iPhone and send it by email. As long as you have a efficient internet connection, you can sign and send documents instantly.

How to create an electronic signature for the Offer To Purchase And Contract Form on Android?

iOS has lots of of users, there's no doubt of that, but most phone users have an Android operating system. To fulfill their needs, CocoSign has developed the software, especially for Android users.

You can get the app on Play Market, install it, and you can start signing documents. These are the tips to sign a form on your Android device:

  1. If you already have a CocoSign account, sign in. If you don't have one yet, you can sign in using Google or Facebook.
  2. Select on '+' to open the document you want to sign, from cloud storage or using your camera.
  3. Discover the place where the signature must be placed and then use the popup window to write your signature.
  4. Insert it on the page, confirm, and save the changes.
  5. The final step is to save the signed document.

To send the signed form, just attach it to an email, and it will reach your clients instantly. CocoSign is the best way to sign many forms every day, all at a low price. It's time to forget all about physical signatures and keep it all electronic.

Offer To Purchase And Contract Form FAQs

Check the below common queries about Offer To Purchase And Contract Form . Communicate with directly if you still have other queries.

Need help? Contact support

Do military members have to pay any fee for leave or fiancee forms?

First off there are no fees for leaves or requests for leave in any branch of the United States military. Second there is no such thing as a fiancée form in the U.S. military. There is however a form for applying for a fiancée visa (K-1 Visa)that is available from the Immigration and Customs Service (Fiancé(e) Visas ) which would be processed by the U.S. State Department at a U.S. Consulate or Embassy overseas. However these fiancée visas are for foreigners wishing to enter the United States for the purpose of marriage and are valid for 90 days. They have nothing to do with the military and are Continue Reading

Why don't schools teach children about taxes and bills and things that they will definitely need to know as adults to get by in life?

You Don't Get The Premium Channels Because they are not the children of the School nor of the State, they are citizens. While it is necessary, it is not done because YOUR family should do this for you, should be making an effort to understand how. The assumption that school is to teach a person about the immensity of life is ridiculous and one of the ways that society leans on school (government) rather than self-empowerment. You get what you pay for. If school is a free public service than you can’t have the premium channels. Now that omission might screw up the usage of those skills but schoo Continue Reading

What course of action do I take to become a copywriter?

To start off with something concrete, i would advise you to read some books on advertising. Get a feel of the writing. What it is and how it is written. There are some websites which you can refer to when it comes to watching some award winning works, like D&AD CLIO and WeLoveAd. Joining a good communication school would be beneficial. And as you are going through the works of people from different agencies, keep creating your own ideas. Create a small portfolio of your own work and take it with you to a creative director for review. Not to see how good you are but how good you can get.

What is an offer to purchase form?

Ask yourself the question how are you going to monetize the credit note; why it's not a straight deduction from sale price. Flats are no longer attractive in Bangalore as it becomes a consumption expense from day one in view of low UDS (undivided share of land), the only appreciating component, in large apartment complexes. Luckily, you can still build a villa in a gated community for the price of an apartment. Why carry a credit note with no return and incur interest cost on EMI. Legally, in a written agreement the builders would include the clause “ this agmt “supercedes” all representations, written or verbal, by any staff or management……..:

Is a purchase agreement binding?

In the united states? No. If the other side did not hold up to their side of the bargin by failing to provide goods or services as promised, the contract is void.

Can you share with us your journey investing in the stock market?

It has been mixed.I started share market in 1990 and was interested in new applications.When i did not get even a 100 shares of any good company in new issue,I gave up applying,instead became a sub broker and made decent money around 1000 per month in that time. I have lost good money in Harshad Mehta scam because by that time I was employed in sales and had lost touch of the market.I bought shares on hearing from people and one of such shares was Omaxe and i bought it at a steep price of 660. In the two days of harshad Mehata event it came down to 116 and many such shares gave me pain and I lo Continue Reading

Is an offer to purchase legally binding in Massachusetts?

Best, Sign the official contract and have a start date. I just heard of a story from a chap who had the job offer by “email” but the agency “disappeared”. Im not a lawyer but been working for than 8 years in the UK.

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