Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
DanielSun

Preparer's disclaimer

Recommended Posts

On the option contract, there is a section that states the preparer of the contract shall not be held reliable for any omissions, errors of the contract, one seller felt uncomfortable about that part,

 

I have no idea who that section protects, can I just remove it out of the contract? Since I am not the actual preparer.

Share this post


Link to post
Share on other sites

Daniel, that's standard legal mumbo-jumbo that is in most every agreement I've read and used. I see no harm in leaving it in place. But if you want to remove it you certainly can do so.

Share this post


Link to post
Share on other sites

We're all the motivated buyers, of course. But you don't want to strip the paperwork to the point you aren't protected. If this is a CA, the homeowner should be pleased with the agreements since they are very pro-homeowner.

Share this post


Link to post
Share on other sites

Another question, when we meet with the seller, can we just use the "short offer form" as our initial agreement, then later sign the formal Option agreement when we find a buyer?

 

Because the short offer form is simple and straight forward, the owner won't be thinking of going to lawyers for review.

Share this post


Link to post
Share on other sites

I wouldn't go that route, Daniel, because the Short Offer isn't binding. I want to work with a homeowner who is committed to seeing the deal through. If the owner has an inclination to run to an attorney, they'll do so no matter when you show up with the full agreement. I'd rather I know early in the process that they are going to a deal-killer, rather than after a month's work.

Share this post


Link to post
Share on other sites

×
×
  • Create New...