I have never worked as an agent in any other state aside from California, so I confess I am not an expert in the practice of real estate from coast to coast. I have however been to a number of industry conferences and talked with many of my peers from the majority of states, so […]
Most home sales in California use the standard Residential Purchase Agreement provided by the California Association of Realtors. It’s an eight page document and has a number of important provisions in it. Regardless of what purchase agreement is used, all purchase agreements include the following elements: Purchase Price: this is the total amount to be […]
The seller had actually already signed the documents she needed to, all that was left for the buyers to go to their friendly neighborhood First American Title Company office and do their signatures, and then we’d just sit around and wait for those fat commission checks to come rolling in.
…It seems that the buyers had gone ballistic, had threatened to file a lawsuit, to sue us for misrepresentation or fraud or something…but that the buyer’s agent had calmed them down to the point where all they wanted was a discount of $15,000.
…I shipped that off to my client the seller, and in a few hours I had it back, and forwarded it on to the buyer’s agent, saying, “OK, here’s the cancellation of contract.
…In the end, the buyer’s agent chipped in $2,500 of her commission, and we had to chip in $2,500 of our commission – except that our client, bless her heart, signed a separate agreement and wrote my brokerage a check after the close of escrow, giving us the $2,500 back.