
As a buyer — even before you enter into
a transaction — you will be presented with several forms. (Of course,
sellers have many of their own, as well as some of the same ones you will
be obliged to complete.) The process can seem overwhelming at times, but
as your agent, I will be able to guide you and help you understand the
seemingly huge amount of paperwork. Patience is key, as is keeping in
mind the end result which makes it all worthwhile.
Be particularly mindful of the paperwork that needs to be completed within
the time frames stated in the Purchase Agreement Contract. Doing your
part to sign and complete all necessary paperwork in a timely manner will
streamline the process and assure that you are protecting yourself legally.
Working together continually with the Escrow Officer and our Transaction
Coordinator, I will keep you apprised of all timelines.
I have listed some of the key forms used in California as well as Napa
County. A few of these are used right from the start of working with an
agent. The majority of forms used are required by law. Other "lesser"
forms can vary by county and state and from company to company. I'm happy
to help with all of the details. Be sure to understand what you are signing.
Ask as many questions as needed and take your time.
Several of the forms are listed here with the first
six available to view if desired.
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Disclosure
Regarding Real Estate Agency Relationships
This will likely be the first form you see when you are working with
an agent. It addresses the different types of agency relationships:
Representing the buyer only / the seller only / or the possibility
of representing both—referred to as Dual Agency. |
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Disclosure
and Consent for Representation of More Than One Buyer or Seller
This form should also be presented to you at
the very onset of working with an agent. Agents are required to disclose
that they may be representing more individuals than just you. Additionally,
the form requires consent from you for this common practice. |
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Purchase
Agreement and Joint Escrow Instructions This
is your offer and is 8 pages long. (It is also used as instructions
for your escrow.) The most common type is the Residential Purchase
Contract, however there are variations for vacant land, manufactured
homes, new construction, probate sales and commercial properties. |
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Buyer's
Inspection Advisory This is a 2-page
form which generally comes attached to the end of the Purchase Agreement.
It emphasizes the importance of getting property investigations, addresses
buyer and seller rights and duties, as well as broker obligations.
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Information
Regarding Mediation, Arbitration and Liquidated Damages A
form that explains the clauses in agreements that relate to dispute
resolutions and liquidated damages. |
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Statewide
Buyer and Seller Advisory This 10-page
form addresses the rights and duties of buyers, sellers and brokers.
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Buyer/Broker Agreement
Depending on various factors, you may opt to
sign this form. It is not a mandatory form and similar to the Listing
Agreement of a seller, this is more or less a legal promise to allow
your agent only, to represent you in the buying process. In turn,
the agent will owe you a fiduciary duty in addition to his or her
other legal and ethical responsibilities. It is presented to you in
the earliest stages of agency. |
Other forms that may or may not be a part
of the negotiations and escrow process (some required, some dependent
upon circumstances) are:
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Counter Offer(s) |
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Addendum(s) to the Contract |
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Purchase Agreement Addendum |
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Contingency for Sale or Purchase of Other Property |
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Buyer's Checklist of Inspections |
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Napa County Disclosure Advisory |
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Agent Visual Inspection Disclosure |
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Home Warranty Application or Waiver |
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Receipt for Increased Deposit/Liquidated Damages |
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As-Is Addendum |
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Request for Repairs |
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Receipt for Reports |
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Notice to Perform |
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Contingency Removal |
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Market Conditions Advisory |
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Verification of Property Condition |
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Home Equity Explanation and Agency Agreement |
In addition to these, you will be asked to sign upon receipt, several
seller-specific forms.
* Please note that the above list does not necessarily state the only
forms which may be required in your transaction. In addition, forms are
subject to change.
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