Wednesday, November 02, 2005

It's a Contract. It IS binding.

In my day to day work life, I deal in nothing but contracts to mortgage land. Buying a home is a big step for most people.

In my naivete, I believed that most people actually read what is provided to them, when it relates to a contract on their property.

Not the case! Nor do they listen, it seems.

Without going into detail (to protect the innocent but dumb), I shall just say this: read the contract!!!

Read every piece of information you get from your mortgage broker -- or realtor -- especially the faxes they send you. The cover page that they took time to write out - -by hand -- has absolutely critical information in it.

"I didn't read it" never has been, is not now, and never will be, any excuse for getting yourself into a pickle. If you can't read, hate to read, can't understand legalese, or just can't read the person's handwriting, call them and ask for an explanation. OK? See, 'cause there's this "reasonable man" thing that is inherent in contracts -- as in, if a reasonable person would know a contact (or terms of a contract) existed, you will also be expected to know.

So just read it, OK?


Click here for more information on contracts and real estate.

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