Hi there, it's Michael Ackerman coming to you from Seattle, Washington, where I am a realtor with Coldwell Banker Baine. Today's video blog is really for buyers out there that are looking for a home in this market. It is important to be careful and specific about knowing the purchase and sale agreement when you sign an offer in this day and age of technology. Which is great, there's emailing, there are electronic signatures now, and even authentications in order to save time. However, I believe that you should be tempted sometimes to save time by just having the paperwork electronically sent to you. If you're writing an offer with your broker, I think it's crucial, as a broker myself with 21 years of experience, to educate my buyers on exactly what they're signing. So here are a couple of ways to do this: when you first start working with your broker and pick your agent, ask them for a copy of a sample purchase and sale agreement. They will provide blank forms for you to read over at your leisure. Think about them and get any questions answered that you have about the documentation. When I write an offer with my buyers, I actually take the time to sit down with them and go through every single document, line, paragraph, and page that they are signing. I explain to them what they're signing, as it is a legal document and binding agreement to purchase a property. It is important for you to understand completely what you're signing because once the seller signs the purchase and sale agreement, they cannot unilaterally back out of the deal. The buyer, on the other hand, usually has contingencies in the agreement that allow them to walk away if needed. However, you need to know what your rights...
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Blank Purchase And Sale Agreement Washington State Form: What You Should Know
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