How do i document type sign travel agency agreement hawaii
on page four we're going to do is have you guys read it line by line that's how I want to take it so let you understand it because what you right here from your buyers is if we explain this to me and if you don't know how to explain that the religious all conflicts any agent don't doesn't know how to buy today the contract I should not do this really that's our job right and the contractor really protects our site so by knowing everything in that contract by protecting them as to last annoying for the festive to wanna get stronger and to protect okay so we'll start off at Carrie going to go with g one if you want to read it for us I read lots of the video title report agents ok good as a buyer's agent what you want to do is make sure you get that preliminary as soon as possible does that pretty much rules I don't add title can be transferred over free and clear okay so hopefully when you guys are what enough transactions like interested this this week you want to make sure that you get that preliminary tether work within that specific time frame that you asked for it now because there are some new agents here they may not know exactly what that it is talk to watch for such motion and we can tell you how to go over it also that because what usually happens is when you get that preliminary tiger went from escrow your buyer is also getting if they get it they're going to fit through it and it oh what the heck does this mean it's hard job to make them understand on what it is so if you need between two condo but you guys should actually view one to make sure you know what it's a problem okay so hopefully when you guys look at X goes to get that it's usually within the first week in the first seven to ten days happy could you want to make sure that title is able to transfer and then we want to move before because what you don't want to do as a buyer's agent is spend money or spend your buyers money and find out title can be transferred okay g2 oh yes you know whatever gets up fish with its report yes we shouldn't just type that read it all ourselves of course that's why that's guess that's why they give the copy that's why everybody yeah and again Dirk times where you read up in America or when you don't understand it you can ask stressful for next collision have your client understanding ok that not necessarily that's why that's why you want to go through it to see ok that's why the buyers iris that's why we can pay good money because time do carry bus done discreetly because what you might see is property i said is a taxi on the summit for a hundred thousand dollars they're selling a property for 500 under mortgage is 450 souther doesn't have enough money kind of can transfer but Adam g2 right take the painting pedal southern Greece convey the property with working market boat under fire free fear of all these except easements covenants conditions reservations it's not breakfast including would not limited to those documents relating to a condominium cooperative TV subdivision homeowners association or close to develop in that good so what this particular paragraph is that some homes we have deed restrictions at that deed restrictions are something you should know because let's just say you're buying a house on a mountain and there's height restrictions on that particular one Electress your buyers know because safely want to build and you want to go up and it's not possible to do that you want to let them know that so you can cats that's something we have their hearts set on doing if you talk from telling them sorry you can't do it closed I that's why the maritime part is important because it tells you what you cannot cannot do the deep research say what condo docs the condominium docs tell you building a project keep in mind with Congress August it has rules and regulations but one of the most important documents to review our 105 the income statement without an tell you the condition of association ok questions these restrictions that's what you know good thumb 28 fires review of preliminary types of work inquire is not set by the Free America before butter may elect within my days of virus received report to terminate this British contract pursuant to paragraph good so what I want to do is basically talk about this paragraph one if you're writing an offer of how to get off are stronger and to just to give you an idea of what that really is so what it's saying is it once you receive the pool in the 904 get X amount of days to review it if you're not happy with it upsets you can cancel travel to typically we put seven days if you want to make that offer stronger you may want to put three to five so again all you're doing is you're sharpening the time frames to be in your offer like that how long does it take to go over a prelim 10 minutes 10 15 minutes it's just a matter of talking to your buyers to see you want to proceed with the contract or capsule so you may need a few days to do that seven days i think is a lot of time but i think if you're on it 325 shooting okay good any questions on that okay let's move up g to be titled effects his name's Henry my book effects inquire elects not to terminate under paragraph g 28 and if the three like a report or any other report for any updates to such reports reveal that psycho cannot be delivered by seven in accordance with paragraph GC then the seller shall make appropriate disclosures under paragraph 1 to 2 and seller shall use reasonable efforts cure any type of effects if within 7 days following receipt of any report seller does not do such type of effects by Aaron may elect to purchase the property with such type of defects and or sellers shall not be liable for such type of events require elects not to accept the property in such type of effects either buyer or seller contract pursuant to fire both groups oh my god crazier so what we'll do is it will bring it down live a life that you guys understand what this particular factor of P so percentage require Lex not determining under paragraph g to the preliminary charter card or any other reports or any updates to such a report review that the title cannot be d that reply seller in accordance with paragraph g to the seller shall make appropriate disclosures under paragraph I tube which is some of the students and the solution use reasonable efforts to cure any title defense okay so what is basically saying is if you get to prevent kind of the NOC will transfer you clear the seller is going to disclose why it can't be back however it's also saying it within its usually seven days finding their see plenty of any reported title defects seller does not cure such type of you expire and purchase the property with such tighter defense and sellers not be liable for substitute fix so basically what happens here is the seller says those defects on my typo and I'm letting you know so now the buyer has the opportunity to still buy that property with that title defect bear in mind you have to understand that title insurance may be affected so you always want to talk to somebody understands what's wrong with the title ok so if buying elects not to accept the property with such type of defense either buyer or seller megadeth determinate news purchase contract pursuant to paragraph will do so again soda has title defects discloses to buyer that there's defects the buyer cannot cancel if they choose not to fight with that particular questions pretty straightforward yes so many I don't know sit tight is that like person or that a lawyer depending on that particular right it's understandable escrow is a great source for understanding but the reason I say that is because if you represent fire and let's just say the wire it's kinda live here heels over this property they really wanted they don't care just whatever it takes sometimes that's not the best thing to do check what that defect is to make sure that it's not going to reply ok so I don't know face it don't matter so they have a tax lien or five thousand dollars why they can create papaya okay could be anything directly couldn't absolutely but as a buyer if you can't drink because they're somebody's object what's wrong I'll just deal that's hot but it needs to be disclosed to them right and if it's the one about it by as long it is closed ok questions it for falling asleep good page 5 g3 bluetec Richard lifting and finally fill this wires as Paul provide legal full legal name false information a conformal in this evil the fire is not yet determined fire shall provide that's growing right and then 15 days is left after good so I'm a single person I asked my agent authentic title Michael's all you're single and it's in several okay yes very good you should not get Phi Z our fighters how to take tests and can explain to them what all the tenants what are the what are the for Tennessee's anybody ever encounter enjoy target first certainly tend to comment tenants by the entirety good we can explain to that what it is but you cannot choose five o'clock we're not supposed to 15 somebody esposa it's just a matter of your not telling them and remember remember if you're representing buyers make sure they actually import escrow ha they don't they're married now let's go right up to dogs they don't people panting hi yes that means in common that sucks because if you wanted to do it tenants by the entirety another really closed to draw dots and that costs money so get it right the first time always make sure that you're a buyer receptive that desperate obstruction behind one title ticket step further and also called a stroke and make sure that they had targeted as I had an instance where worked with the husband and wife asked them if they transited he said yes I had no reason not to believe there cost us 20 or 50 bucks to get a change to tens there's no that it costs time and money okay good any questions on g3 good let's move on h 1 section 8 cash bonds and financing continues I roof who said that do all the cousins buy the property cash one buyer shall either they look it's tough to talk about that reference anytime you represent a liar to get the money you should always check to see when you're protecting your buyers from okay so let me do the examples because I've actually had clients like this let's just say I own king classic car and i know i can get $50,000 forth consolidebt contingency cash box be using the same of that's 52 yes yes absolutely absolutely put that down as a contingency Tector fire in the event things Katniss of the car okay you should also time bring it to but subject to fire seven is classic car by more information for the better protects your binder now what you have to understand though is that when you put contingencies like that weekend you're awesome right so again if they can sell the car before you make the offer got to be better to be really better because Tigers you're sure that your buyer is interested in actually buying a property so again explain to them yet you can do that what you want to do as your agent is show them how to write the bus strongest my second car pretty pretty that's the way I was okay what if they have money in stocks and bonds on a contingency or that yeah it's absolutely a contingency because we know at any given time it can just go right so he may have a hundred thousand dollars value and stop stop sandbox but if he sells it on a specific date and only makes 50,000 not good right this is a contingency to get money from a home equity line of credit if it still does allow cash equivalent friend let us you discuss but if he is limit is already rich very good that's kind of like a trick question so if you have to apply to get the home Atlanta credit yes absolutely is if they already have it where they can just write a check for that amount okay good any questions on contingencies of getting past ones it's not let's move on to H 18 right and verification cash flow me again okay I like your voice this one h18 verification of cash funds by ourselves by evidence cash funds within XML of days after BSF the firings are able to provide such evident bye hi saturday learn to such as contract good so what this is saying is this I'm abaya I want to provide the seller proof that I got cash so there's a couple of ways that you can prove that you have that catch one way is to bank statements showing the amount but you always want a blackout account number or two which I do only because I'll protect my buyers information just have the lender right through the sudden each is saying that they have or they saw in solana dollars in their ecology and they can polish okay salma sellers agents will not accept that that's the case however I've been doing that for the past few offers that road and they're okay with that and just don't know that it's okay to call the lender fires like that because a lot of fires don't want that one other people don't actually have so by having the lender say they have X amount of dollars on capable to purchase the property that protects so either way depending on the fire and how they okay where it says partial provide evidence that gets us right seller typically we like to see under five days anything longer than that that kind of makes sellers word about it you actually have to run or not if you want to make your offer strong which ones is provide that particular information up front with the altar done that before really helps get the offer accepted and how we need to worry about actually getting it because there are times where buyers say they can get your information quickly but they can so let's get it up front simple how to say hey you know what can make your offer super strong it's probably best if you giving that information of the front side is submitted with that all right it's true offer so why not do a Protestant worry about it five mins day okay good h2 Cashman in reference to the balance of down payment it's all cash buyers obligation to purchase a property is alright so if there's any contingencies for obtaining cash funds this is where you want to put it so one of the most common one is selling the whole you're selling a home and you need cash to purchase problems that you're purchasing that's what you would flip down typically is making an offer at you trying to start a home it's best if its industrial because that's the strong as you can possibly be so what you'll put down is the property address the escrow agent is a spring that particular track and the reason you want to do that is because you want to have that seller call that agent to confirm that it's an escrow pad where it's at so the closer it is to closing the store very often comes however because still a weaker hall does not so again when writing contracts and why they get strong there are times where people leave it up yes it's a continued but they do bit output because didn't know they're super focusing close with the property the fire final folks if they feel that confident but remember now our job is to protect our buyers and your deposits so it is any doubt whatsoever it's not going to close he's like one percent put it in put so you stand up way to apply and you can always count call the seller's agent say hey this is where we're at in the tribe it was pretty strong as a really fantastic to use so again communication is key with the other agent because the one you talked to them the circle god the better chance you have with actually working hope because they like agents who communicate if you're an agent just writes up an offer fast atul and that's it probably if I have made you food quality necessitate this is my offer invite that offer I'd be brought to work if they're willing to make the changes prior to writing down oh my god is the best kind of agent we fell in love with pinnacle's right so again follow those new agents we took our class prep I told you it's best to network with all that because you if you have to have a tendency to work with so Jeff understand is I was here this competition arms and that's the right buyer seller happy buyer seller gives you what girls got it come on oh no inspector the issue punishing you can look dirty 1331 exchange and as you said yes what is whatever you would have to go 31 exchange what is that that's when you when uh when somebody wants t
exchange this other house to buy new properties why was he good he was the main purposes and prolong the pats with boomerangs you forget so you can do that thing and by the way you told us that last year as a new law or owner you can be changed and as Harry that the old football can fill their old pals profit and with that we wanted to geez this approach and again can save 5,000 per game so our main money that they have they can do that jail English I just closed one where but you actually decided ah fountain actually a really good job without making anything that no single that was a kid sorry like it not a half access to because it healthy right our buyers and you can just see it do it if you want and he gets taxed on the one for you that's not right try whatever smile investigate if you pass the carbon you have to make a funny face I actually good was that here okay since it up that answer your question yeah okay strawberry and orange yeah and its program sure positive there's no editing miss him every time you forget to pause our report for this you're gonna hear this I notice that we're going to do that all the time by there because I was forget ok so that's h2 any questions on that no so good at age two that is a each to a fire shall provide evidence that is satisfactory to sellers buyers of the latino teen balance of down payment or balance of purchase price of all cash within X number of days after that okay it's up so that date will actually be internment of what that contingency is right because it to the sale of property and they're not even close it kept in five days it may be 30 days went to 45 days shoot might even be 60 days up but again we're right in the contract to protect your buyers so make sure you know exactly when be able to say you know what is satisfactory proof and you have ok so a lot of different scenarios it could be two dates right pointing to sell my stocks i like to do that to actually taste but just make sure you get the fire enough time at the same time in that period to get that off her stall because once you start finding out contingencies on our TV trust funds you're offered on becomes weaker what else does not happen so know that because when we're writing offers about you guys but I write offers to win that's the goal just writing offers just to make an offer hey buddy you're not representing your violence the writing offers to win that's the goal and innominate that offer as strong as possible with the antenna protecting them if you get that Arizona ok h2b things is it if buyer fails to provide seller with such satisfactory evidence within the specified time period and paragraph h2 a seller may that to terminate this purchase contract pursuant to paragraph 02 03 03 good so what is basically saying this if you don't show satisfaction cook within that time period that you put down so I can say you know what cat by the problem so no your time frames we live in the White was super laid back and a lot of agents are date back meaning if that time period passes those two go up just give it to right don't take that as the norm because there's a chance out there stick to that time frame and the bottom line is the reason why are you writing contracts is to get back to protect the buyer and seller so just make sure if you put five days and get that information within five days don't so I can say look we're going to counsel so just represent a buyer and let's just say your contingency is for 20 days okay 20 days so your inspection j 1 for 10 days so you pay an inspector to go pick out a property right you pay that inspector all of a sudden you forget to give them satisfactory conditions on the fake cash funds as the twenty first date so I can basically say in Lancaster is that time what just happened if I just left that money very important to follow time okay good h2c it's ellery satisfied with evidence liar in paragraph each to a buyer is able the positive balance purchase price if all cash into escrow and according to the Arab aptitude then fire me back to terminate this purchase contract pursuant to paragraph or two or two if fire that's not to terminate this purchase contract under paragraph h 2 c1 and southern making that determining this purchase contract pursuant to paragraph or two questions these subjects pets are right and get the money back to Castle recording I'm not editing recording okay page three okay financing contingency buyers obligation to purchase the property is contingent upon buyer obtaining the loan described in paragraph D to mortgage home if buyer does not obtain a traditional loan commitment letter was unable to satisfy all the dishes of the loan commitment letter within its audience for the environment like to terminate this purchase contract pursuant to 02 yep there's got to be right if buyer has met all conditions of the mall commitment fells the front prior to closing the environment like to terminate this purchase contract will soon as a paragraph 03 actually let us see it it's didn't fire fighter may one wave the waves its financing contingency it purchased the property on an all cash basis or to increase the amount of cash funds in order to satisfy over the windows requirements for funding at home and viral next either these two options by short profit divided bit of notice of such a lecture to seller together with evidence of buyers ability to perform prior to expiration of the time to reinstatement diagram h4 okay good so financing Clinton's anytime on fire its financing yours when explained to them this particular paragraph and the reason a lot of events because the adults you have ups okay so let's just go through one by one so fires on addition to purchase the property is contingent upon by retaining the low described in paragraph D to everybody knows what d2 is right then he do yeah the break-up a positive purchase the process the first prize initial additional deposit and how I'm going to do it so that's all it could be what FHA VA conventional USDA whatever it is right that is just too big a acquire does not obtain additional satisfy all conditions of the loan commitment letter within the Tigers bestbuy-h for the environment determining this purchase so it's basically saying is this letter has X amount of time to get or permission alone approval then there cannot give that question productivity is one that's the seller for an extension or two ok be it fire has been all conditions of the loan commitment letter but the lender fails to front bar closing the environment left to terminate this purchase contract never seen that happen because if you get this part with the buyer they probably want however you have that option to counsel because I never happened where we got metric about fun whooping on because you put all that time and effort buying something to make sure it focus and see fire me we this financing contingency and purchased the property on an all cash basis which means they forget financing I have the cash to pay cash or they can increase the amount of cash funding of satisfied all the lending requirements reflecting the loan so let's just say an example would be it didn't appraised did an appraised for the heart that we purchased it for usually the buyer would have to come up with so at least they have that option so one of the things you if you think as a buyer the property is not going to you may want to prep your buyer prior to the prison say hey you know what these are comps I know we have to offer this price to get the property but this may happen do that regret from your client and if it does happen at least they know better than telling that oh it did it appraised need to come up with more money appreciate that i would not so healthy by okay so always always always always prep your buyers up with the worst it does happen obviously say yeah told me it doesn't happen then that's great come forward to close h3 any questions if the move on h4 yes when I can don't have page where we are back to hello fire submit bye thanks have fun a review bye today's from acceptance based upon / writer finding fire is obligated to based upon approval and Cassidy of just a the seller and written that fire has set conditions which hey uh fires that or we see by five no later by authorized seller oh alright I Ching hai kidding so buyers obligation any time you're representing a buyer these are actually keep time to focus one you want to make sure that you can follow these timeframes if you don't the seller can actually counsel as to this is how you make sure our offer stronger okay so we're just going to go over it one by one so that you guys can understand what this means so a blank and to deliver seller a pre-qualification letter based upon a review of the buyers credit report and items in the loan application okay so what they're basically saying is you're going to provide seller with a pre-qualification letter anybody know the difference between a pre-qualification or a pre-approval letter much stronger than the other correct ones and stronger each other I think every boy strong and the difference is this because both fires will ask what's the difference between right so what you have to understand is on a pre-qualification letter sometimes lenders just call that particular buyer and see how much right without even verifying so the pyro I made ten thousand dollars how much depth we had at two thousand dollars it also in nineteen thousand yes cool right so they use that number to qualify not so good just because nothing's verified right so let me show good qualification by saying what we call I'm great she's got a good qualification however if your buyer's agent is probably best to get a premium poop another reason you want to do that is because one you can find out if your buyers actually truly pre-approved to buy this property to it obviously makes your offer a lot people okay so the difference in a nutshell is is I told you what a pre-qualification letters pre-approvals actually they pull that information from the fire so usually what did those that run credit and they'll pull like tax returns to see how much money actually they + find out how much debt they actually so everything is documented fire back with much drama okay it's always push for pre-approval pre-qualification there are times though you just need a buyer they want to make alpha locally sometimes pre-qualification so that you can do at that time that's fine but you should always push that your fire is truly qualified for us we won't apply okay so the first one is that qualification letter would be great if they could I'm sorry the first one is actually application so usually two to five days but the second one B is that proof occasional pre-approved letter to make your offer strong which one book is included in the offer and that's what you want to do because it shows the sellers and service agents that gate you actually talk to a lender it gave them all your information all your supporting documents and you truly do qualify for this particular so two days for a two days would be however if you put attached to offer that would probably be better that's what be as okay c talks about conditional no no food but what conditional loan approval is the render credit they went through underwriting that the underwriter says yes we can give you this money based on the conditions that are actually listed so conditions may be in a place where report that reflects the purchase price it could be what their vision of what you have to pay off phone or this particular personal loan that you have prior to funding and that's done that's what D is for all that should be done once what's the conditional approval is given you have X amount of days which is deep satisfied okay so very important h4 a b c and d is what you should know what it is explained in cat top-rated buyers to trust any questions on each one business usually work days doctors usually work regular things get it off right like sometimes wife saturday event work saturday so I thought the conditional yeah but just make sure you talk to the lender so that they can if the cat there is nobody to say I'm going to provide them with proof of application in two days but you know you can't do it why do you put it down that's why it's also Pizza public event without you girl because that lender will pretty much time yes I can do it within that time frame and that's what you want to do right because I did we're trying to make this offer as strong as possible and to do that it was a clever told me you know what we cannot float within 30 days the fastest i can do it is 45 I'm not going to put 30 days because if that 30 days comes and goes and you can't get expansion packs something can pretty much go teachers and we don't want that is that there's a lot of stress okay good questions on each for each five the homework page 2 / babies so age five
