Yesterday, an anonymous buyer called our office after they were in hot water on a contract to buy a home and wanted to know if they could cancel the contract…of course they were not sure what they signed. A scarey thought, but not unusual. Even the real estate forums are full of buyers not sure of what they signed and asking how to get out of the real estate contract. Too late to read it now… time for an attorney.
“Before you Buy a Home” Tips:
1. Choose your agent carefully…very carefully. Not all agents are experienced and very few actively represent buyers.
2. Don’t let anyone pressure you into signing anything. If you don’t understand or are not comfortable, ask for an unsigned copy to take home with you.
3. Ask questions. There is no such thing as a stupid question. If the answer does not make sense, wait for a better answer.
4. If your agent is pushy, get rid of them and find another agent or a real estate attorney that can help you sort out the puzzle.
Homebuying should be a pleasant experience with the buyer being comfortable in understanding what they signed. Buyers usually have choices in what they agree to in a contract. That should be explained and understood before the ink dries.
If you are faced with signing a contract to purchase real estate… don’t grab the pen too quickly as you may really be in hot water later and cooked before you know it.
Copyright © Buyers Broker of Florida 2010 “Real Estate Contracts: Read before you sign”