Read Before You Leap
Lawrence D. Elliott
March 06, 2006
In the California real estate game, there are so many documents to sign and that list grows larger and larger every year. This is due primarily because someone decides to pass a law or ordinance or when someone wins a big payday in court. Some of these laws are good ideas. Some are not. Some of the lawsuits are real transgressions that must be addressed. And of course, some have no real purpose but to make someone rich off the hard work of others. In real estate, it?s just a part of the business that must be dealt with. A real professional will be able to explain and review the various documents you sign, but this is a two-step dance you must join. You see, you have the responsibility of reading every document before signing them. As with everything in life, you are the final line of protection when it comes to the welfare of your family. Whether you?re buying a home in Pomona or a condominium in Rancho Cucamonga, you should READ every document before you LEAP into a real estate transaction. Period!
Often, I work with clients who feel so comfortable with me that they will just trust me and attempt to sign without reading or paying close attention to what we are discussing. Notice I say, ?attempt.? I believe that is a very dangerous habit to get into, not only for you but for me as well. Don?t get me wrong; I?m always flattered when someone has that kind of trust in me. I believe I have enough experience, knowledge, honesty, and track record to show I will take good care of them. But so what! You still need to read every document before you sign?even with me! There are intricate and legal details that could have serious and far-reaching affects on your transaction and you need to be aware of them. Discovering them in the middle of the transaction?or AFTER it has been completed?is too late!
When I meet a client who?s had a negative experience with another agent, the first question I ask is ?What happened?? More often than not, I discover the agent wasn?t as thorough in the completing or explaining the contract?and they didn?t take the time to read it. They invariably blame the agent?and it?s true! But they could have saved themselves the trouble by reading the contract for themselves. They could have asked the correct questions and gotten everything straightened out upfront. Hey, we?re all human. They might have learned it was just a simple mistake on the agent?s part and that?s okay. The mistake could have been corrected and no harm would have been done. Of course, they might have found out the agent was trying to pull a fast one on them and they could have removed themselves from the situation.
Don?t take this to mean that all your suspicions about real estate agents are all true: They are scoundrels who spend their hours plotting ways to steal your hard-earned money or equity. That?s just not true. They are as human as everyone. But because they are human, you need to know that some are better than others for a multitude of reason. You just need to understand your part in this and live up to your responsibilities, too. If there is some irregularity and you end up in court, the judge will simply not accept the lame excuse of ?I didn?t read the contract.?
Read before you leap?
Often, I work with clients who feel so comfortable with me that they will just trust me and attempt to sign without reading or paying close attention to what we are discussing. Notice I say, ?attempt.? I believe that is a very dangerous habit to get into, not only for you but for me as well. Don?t get me wrong; I?m always flattered when someone has that kind of trust in me. I believe I have enough experience, knowledge, honesty, and track record to show I will take good care of them. But so what! You still need to read every document before you sign?even with me! There are intricate and legal details that could have serious and far-reaching affects on your transaction and you need to be aware of them. Discovering them in the middle of the transaction?or AFTER it has been completed?is too late!
When I meet a client who?s had a negative experience with another agent, the first question I ask is ?What happened?? More often than not, I discover the agent wasn?t as thorough in the completing or explaining the contract?and they didn?t take the time to read it. They invariably blame the agent?and it?s true! But they could have saved themselves the trouble by reading the contract for themselves. They could have asked the correct questions and gotten everything straightened out upfront. Hey, we?re all human. They might have learned it was just a simple mistake on the agent?s part and that?s okay. The mistake could have been corrected and no harm would have been done. Of course, they might have found out the agent was trying to pull a fast one on them and they could have removed themselves from the situation.
Don?t take this to mean that all your suspicions about real estate agents are all true: They are scoundrels who spend their hours plotting ways to steal your hard-earned money or equity. That?s just not true. They are as human as everyone. But because they are human, you need to know that some are better than others for a multitude of reason. You just need to understand your part in this and live up to your responsibilities, too. If there is some irregularity and you end up in court, the judge will simply not accept the lame excuse of ?I didn?t read the contract.?
Read before you leap?