Editing is a valuable skill. It’s particularly important when you’re conducting business, and even more important when you’re dealing with a binding contract that can seriously affect a client’s financial standing.
Below are some common contract-related errors that can have huge ramifications. Keep these in mind as you write and edit contracts – they need to be as tight as possible before you submit them.
1) Neglecting to review your client’s offer or counteroffer carefully after writing it and before delivering it to the other party.
2) Not reviewing the entire accepted contract carefully prior to having your buyer put money into escrow – and not having a fully executed copy of the whole contract before depositing funds into escrow.
3) Sending a contract form to a client via DocuSign with the instructions: “Please sign this and return it to me ASAP.” You should always write: “Please review the enclosed documents carefully and call me with any questions before signing and returning the enclosed documents.” Even better, have the client call upon receipt of the forms so you can review them together.
4) Using an Addendum form to make a counter offer. Use a counter offer form!
5) If the seller is going to occupy after close of escrow, be sure to attach the “Seller to Occupy after COE” addendum.
Tomorrow we’ll talk a little more about this list.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners-- and feeds the dreams of those who wish they could live in Tony Bennett's 'City by the Bay.' Call 415-577-0809 or email firstname.lastname@example.org. www.ceceblase.com