Ensuring eSignature Lawfulness for Business Purchase Agreements

How to eSign a document: e-signature lawfulness for Business purchase agreement

Hey guys, Mike Proctor, Whissel Realty Group. Just continuing on with how I review different contract with my clients. I want to go over how I review a listing agreement with my client after they've agreed to list the property with me. Okay so here we go. All right, super excited about getting this pre-marketing set up for your property. Just need to go through a couple different documents. Get a couple autographs and we're off and running. All right? So this first one here is the agency disclosure agreement. This one here goes over that I have a fiduciary duty to you. Probably my favorite word in real estate. In essence what it means is that I am going to do everything at your best interest. My needs, the needs of the other client, the needs of the other agent, the needs of your neighbor, irrelevant. Everything I do needs to be at your best interest. Sound good? Perfect. Autograph here. This has to do with the civil code of an agency agreement and relationship. If you ever having a hard time falling asleep at night, read through this, you'll be out like a baby. Now just remember as we go through all of this, I am going to scan everything in and email you an electronic copy of everything once we've both signed it. So that way you're going to get a copy of everything that we do. That good? Perfect. Now this is the possible representation of more than one buyer or seller. In essence what that means, this is the golden ticket to allow me to go find a buyer for your home. This allows myself, another agent in my office, or another agent in my brokerage to represent the buyer that is purchasing your home. Does that make sense? Okay, this also means that I may list your neighbor's house. I may list the house across the street. I may show your home to more than just one buyer. Which I know you're okay with but this simply says that you're okay with me doing that. Make sense? Perfect. Autograph here. This form, it's a wire fraud advisory. Simply states wire fraud is a real thing. Throughout the escrow process, you may get emails from escrow. You may get emails from random people that aren't involved with anything. This says that wire fraud exists to be aware of it. Any time you have questions about an email that you get or a phone call that you get, I should be your first point of contact. I will get to the bottom of it and make sure that anything and everything that we're doing is legitimate and valid. Make sense? Autograph right here. All right so this is the residential listing agreement. This is simply just going to go over everything that we've already agreed on. First let's make sure that the address is correct. Okay. And now I put here that the listing time period is for a year long. I'm going to get your house sold way faster than that. I just put a year down. Now you can see here that the listing is exclusive to eXp Realty representing your home. And that the listing price. And that the sale of subject property is contingent on the seller finding suitable replacement property. Because you are going to be finding another home but selling this, we have to find that. 'Cause I don't want you to be homeless. Now you can see the commission percentage being paid total, okay? Now within 90 days of the expiration date, if a buyer were to come after that, I would still be eligible to earn their business. And you can see down here that out of the percentage you're paying Whissel Realty, this is the percentage that we're going to be offering to other agents to bring buyers to purchase the home. All right any questions on that there? No? Just get your initials here in the corner. So here in the top portion we're going to be writing down anything that you want included or excluded with the sale of the home. Do you want the refrigerator to convey? Do you want the washer and dryer to stay with you when you move? You know anything like that. So we're just going to fill that information out here at the top. Now on the property if there's anything leased or liened against the property. For instance water softening equipment sometimes is leased against a property. Solar panels, sometimes are leased or liened against a property if they're not owned outright. We need to make sure that we identify any of those items. Alarm systems, things like that. And here it's going to go over the benefits of having your property on the MLS. The Multiple Listing Service. Now earlier I had talked about putting it online and how people in Australia are going to be able to see pictures of your home. And this is exactly how. So we're going to be putting it on this service here for the MLS. And this just goes over the benefits of using the MLS to market your property. Just get your initials here in the corner. Initials right here. This continues to talk about the benefits of the MLS system. And that the actual address of the property is going to be online so people are going to know that your home is for sale. Now here it goes over the seller responsibilities. So your responsibilities as the seller. And then my responsibilities as the listing agent. Your responsibilities are pretty simple. We ask that your home is available to show to prospective buyers. Now you and I are going to sit down and work out an exact schedule of when we can show the property. And how that's going to work out with your schedule. 'Cause I don't want you just coming in and out and being completely displaced. We want to make sure that your home is available for open houses from time to time. That you're okay with the sign being up in the front yard. That it's okay that your property has all these photos taken with video taken. They're put online for people to view and review. And then my responsibility as your agent is to diligently market your property and put it in front of as many buyers as humanly possible. Okay? So as we go further down here, the agency relationship, it's just a review of that agency disclosure that we reviewed earlier. How my responsibility is to you as my principal. What dual agency is where if myself or another agent from my brokerage is representing the buyer for your home, that would represent what's called a dual agency. Okay, let's get your initials here at the bottom. So security insurance showing audio and video. Now as people walk through your property, just as when I show you homes that you're going to be purchasing. You're going to want to take pictures. You might even FaceTime. That's totally okay. And it will be okay for buyers to do that in your home. Now they're not going to be taking pictures in your sock and your underwear drawer. 'Cause that's none of their business. Those don't convey. But of your fireplace. Of your kitchen, of your bathrooms. Totally expected and anticipated. You with me on that? Okay. Keys in lockboxes. So I notice that you had a set of keys set aside for me so thank you for that. I'm going to be putting a lockbox up in the front of the house. So that way agents will be able to gain access to the property when you and I are not here. Now the best part about that lockbox is I get a detailed report of who gets access to it, when they had access to it, and I will be able to follow up with them to get feedback and information on the showings that they had but also to make sure that it was them that gained access to the property. So that way I can still control who does or does not get access to your home. Does that make sense? Perfect. Down here it starts to talk about if there is a dispute that needs to be resolved. Before any parties need to move on to litigation and lawsuits and courtrooms, we don't need to get to that. What we want to do is we go through arbitration and mediation before it ever escalates to that issue. Is that fair? Okay, so initial here in the corner. Ownership, title, and authority. You're going to be getting a packet from escrow that goes over how you currently hold title, how you currently are vested in the property. And how that is going to be conveying on to the next party. Time is of the essence for that so once you get that packet in the mail, we're going to want to fill that out as much as possible, as fast as possible, get that back to escrow. That way they've got all the documents that they need to put everything together for the buyer. Okay any questions on that? Perfect. So right here you're just signing that I am your listing agent and that I get to start marketing on the property right away. All right. Super excited to help you with this. I know you're going to be a happy camper.