This week one of my sellers received an offer on their home. Usually this is a cause for celebration, even if an offer is low, as it gives everyone a chance to put on their negotiation hats and try to hammer out a deal.
However this offer was a little bit different. It was written on the standard Virginia Regional Contract but the prospective buyer had crossed out a considerable portion of the paragraph relating to protections to both the buyer and the seller regarding default. Of course what they crossed out was not the protection to the buyer but the protection to the seller.
It took us awhile to compare an original contract to their changed copy to determine exactly what had been done. As we know every state has contracts that have been written and reviewed by every manner of attorney to make sure that they are solid. When we start to make changes to those contracts we can leave our clients open to litigation or take away the protections offered by the contract.
It turns out that the buyer has a relative in another state who is an attorney who decided to make the changes. As an agent there was no way that I would comfortably recommend that my client accept the offer. It didn’t matter what price they offered, what the other terms or conditions were but taking away the sellers rights in case of the buyers default is never going to be a recommendation I would make.
If you are searching for an agent this summer who will put your interests first then give me a call. Our contract may not be perfect but it does offer you protection that shouldn’t be given up just to sign a deal.