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REPC 14: Makes a Complete Contract? (Episode 44) S3 E14
Manage episode 304998622 series 2936153
Το περιεχόμενο παρέχεται από το Tyler Cazier, Aric Wiszt, & Jason Christiansen, Tyler Cazier, Aric Wiszt, and Jason Christiansen. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Tyler Cazier, Aric Wiszt, & Jason Christiansen, Tyler Cazier, Aric Wiszt, and Jason Christiansen ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
How do you know you have a complete and binding contract? What's a dual contract and an incomplete contract? How do you avoid them?
0:54 - Story time with Jason. FHA amendatory language addendum that a builder doesn't want to sign until near closing (because it gives the buyer a veritable "get-my-earnest-money-back-for-free" exemption). See our episode on "Addenda" for more info: https://youtu.be/ZoVXSjSk_qg?t=150. Do you have complete contract if everything EXCEPT the FHA addendum is signed?
1:41 - It depends on whether there's a signed addendum stating that the FHA addendum will be signed.
1:59 - "Complete Contract" is what you're after. Texts and emails do NOT constitute a contract.
2:28 - If it's in writing, it's enforceable in court, but do you want to go to court with a complete contract, or with a contract, 4 emails and 15 texts? As always, no one cares about the contract UNTIL there's a disagreement, then it really matters what the contract is and what it says.
3:15 - What's the worse thing that can happen? A Dual Contract. That means you have two contracts on the same item for different prices...also known as "fraud."
4:20 - The most-common dual contract is when you present one contract to the lender, and another for what's really going on. That's known as the f-word in real estate...fraud.
5:08 - Complete contract allows for other self-contained contracts, like a bill of sale or repair agreement.
5:38 - What did we learn today?
7:14 - Bloopers.
*No complete contracts were harmed in the filming of this real estate discussion.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
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