Real estate agents can ease the headaches that come with buying and selling a home. One of the ways these professionals help with the process is to provide their own paperwork to guide the transaction.
This paperwork is often fill-in-the-blank standard paperwork — but can you trust it? Does it really protect your interests?
The answer, of course, will vary depending on the situation. Any buyer or seller is wise to review the documents carefully to better ensure what it says. There are some provisions within the documents that will protect your interests and others that may not.
Buyers and sellers are also wise to know that these documents are not always the same. For example, the Florida Realtors, known as the largest trade association within the state, recently announced that it was updating the forms used by its members. These changes include expansion of the definition of the term personal property when used within these documents as well as changes to the wording used within AS IS sales contracts. The group announced the changes will go into effect November 1, 2021.
This is just one of the changes to watch for when reading these documents.
It is also important to note that the realtor is not the only one that can change these documents. You can also negotiate changes. You do not need to do so on your own. You are allowed to hire legal counsel to review the documents, discuss how they will directly impact your interests and renegotiate the terms on your behalf.