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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Notice of Your "Supplemental" Property
Tax Bill |
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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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