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Sales Listing Form.pdf

hello Yvonne Thomas heaven here founder and CEO Realty Partners and this is a training session on using DocuSign in conjunction with for simplicity and this is really intended primarily for our team for our agents but if you're a real estate agent using MFR or matrix MLS and for simplicity the same thing is going to be true for you so I'm going to walk through the just a random property here that I pulled up on the MLS it's a condominium and I'm going to go through preparing a contract I'm not going to use an ass's contract because my buyer is not an investor my hypothetical buyer so I really want to make sure that there are any issues that are found that there's a repair limit that the seller is going to make some repairs and that my buyer is not going to miss out on it you know the challenge with using it as this contract of course is that the sellers know I'll be giving any kind of repairs and even there was something small they made her say you don't forget about it we don't like it walk in the bar you know misses out on an opportunity so here we go here is a property listing that I pulled up and the first thing I want to you know pay attention to is you know who is the listing agent here and I got their email address which we will use later in in DocuSign in the DocuSign setup and of course we have you know the property information here but the most important thing I look at right now is the set of I here at the top I'm gonna hover here first of all it's gonna take me to attachments and and this is where hopefully I'll find a sellers disclosure maybe a condominium disclosure etc etc and and then the other icon is this one here FS form simplicity which will actually launch from simplicity and pulls in all of the data from the property listing which makes it very very easy the first thing I want to do is go here to the attachment because I need to know what kind of documents are here because if I already have a document here then I don't need to recreate it in from simplicity so I want to click on here to see you know what kind of thing this is and what I'm going to do is I'm going to create a folder here it's gonna created here you know sample transaction I'm gonna create folders I'm gonna save everything to temporarily so I'm gonna save it here it's downloading it does the virus scan etcetera and I should be able to open it though yep it's done so I'm going to open it and I'm gonna take a look at it the first thing of course is I want to see is there a common with the Association disclosure in here so this is a property disclosure statement which of course the seller already initialed it's very helpful to get that right up front if I didn't have the property set on disclosure then I would actually be calling a listing agent asked them to set that over to me because I love this disclosure to be part of my offer I don't want to send an offer without a disclosure and then the cell gonna send the disclosure back which kind of creates a counteroffer and then you know my buyers going to have to addition and send it back to the self so I want to have all my ducks in the row that does talking about condominium owners association so it is disclosing that there is you know it's located in a CVD there's an association but it doesn't really talk about the fees or anything okay no all right so I saved this file right now I'm good to go with that but I know I don't have an association disclosure so what I need to know is the Association name and the fees and I'm just going to go ahead by what is here in the listing okay so it's Silver Sands it's the name of the community and let's see if I can find where we have the dues we have the taxes up here it doesn't list the CD fee and I don't have the information here that I see it right now so I would get on number one and I would talk to her and say hey you know how much is how are the condo dues for this property because I want to put that into the oh here we go up five hundred twenty-five dollars okay now another thing here in the remarks down here is under building parking space number 138 goes with the condominium very important I want to put that into the contract I'm not just going to assume that it goes with it I want to put that into the contract all right so that's beautiful simplicity to create the offer so I'll click on that icon and it's gonna take me straight to forum simplicity obviously you know I'm logged in as me here now you can import tax data I personally never you know concern myself with it so I'm just going to focus on the property and as you can see the property information is already pulled into here association fees we just have this here five twenty five a month so I'm just gonna put that in here at five twenty five a month and here's the listing price of six ninety five and let's say our buyer is going to offer six sixty five so that is the offer price on the property they already has the mls listing ID in here now the sellers name usually gets pulled into here okay so let's take a look what the EMAs listing here says and as you can see the owner is blank okay I'm gonna go ahead and take a look at the sellers property disclosure and see if there's an owner name there and here we go Harriet L Zimmer revocable trusts so Harriet L Zimmer revocable trust is the name of the seller if the seller was entered into the MLS that it would be in there it wasn't so I'm going to enter it Harriet L Zimmer revocable trust Harriet L Zimmer revocable trust I don't need to address here good I'm don't need seller - there was you know there were two people that I would tell them one and sell it to the Senators brokerage is in here already so now I just kind of put in the buyers name okay and let's say the fire is Susan home fire Susan home fire and I'll put her address in a one two three any street in Sarasota Florida three four three four three it's good to have atoms of the parties on the contract for notice purposes so I like to put it on there if I have it obviously all of my information is already in here and now I click to add to transaction then I'm going to create a new transaction okay so I'm gonna create a new transaction here and it's going to be the same as the property name so it's going to create a new transaction for this property now I can see that there's a unique email address here that you can use to also email documents into form simplicity I don't bother with that but you know some people like to have everything in form centricity so you could use it I just use from simplicity to create the documents that I need so now I click here on add forms to transaction and the first thing is going to be a sailor purchase agreement and as you can see up here is the as is residential contract for sale and I'm looking for just a traditional residential sale and purchase agreement there's a lot of documents so let me just go ahead and type up here sale of course my keyboard is not onee because right now i'm gonna find the sale so it's going to bring down anything that sales in it that has a lot of sales contracts here assignment sales counter presidential improve property sales going to visit as a vacant land sales as is as is residential sales contract how about this one down here which is residential contract for sale and purchase Florida Realtors farmer so I check this box off here okay I'm going to click - the transaction and I'm going to go back to add two forms and I'm going to search for condominium so very important you want to have a homeowner's association disclosure for a home for you know homeowners association you want have a condominium disclosure for condominiums okay so and what I'm going to do is I'm going to use this one here Florida Realtors Harbor residential contract at then the condominium rider okay and I'm going to add that to the transaction as well so now look at the transaction we have the residential contract here and we have the condominium Rider and we'll take a look at both of them and work our way through it so the first thing is going to be the contract of course so I'm going to click here on the contract which should open it up waiting for forms it's loading it so as you can see a lot of the information is already put in here the parties the seller the buyer the information here kind of menu now other personal property items included are you could put in you know certain furniture items if they're included a lot of lenders don't like to see furniture in here so you may want to have a separate sale and purchase agreement for the furniture if it's a turnkey furnished property initial deposit so let's say we put down a $10,000 earnest money deposit initially to accompany the contract you know the offer closing agent information so you want to put the name off the closing agents I'm gonna just give it a plug to Berlin patent eteland we're just the company that we use and you want to put their address in their phone number and email in fax number so you gotta put that information in here if you use someone else to hold the earnest money deposit that person will be the escrow agent you got to put their information in here okay if you have a broker that has their own brokerage account or let's say the listing agents with Coldwell Banker and they have their own brokerage account in the checklist able to cope with banker which you know is something that was common ten years ago you will put that information there today it's common to have company or a real estate attorney hold their earnest money and so that's what you would want to put in here additional deposit we're not going to have any additional deposits here so it's going to put 0 financing so let's say this is a financing deal where we need to get 80% financing so I would put in eighty percent financing and and then the balance to close not including closing cost now you could put in here the dollar amount figure eighty percent is this much and then - blah blah blah but that just gets very very complex so if it's a cash deal I would put in you know six five six fifty five down here as a balance but since the finance deal I'm just going to type in here balance now we got to give it a timeframe of course but which it has to be accepted so right now today is Friday the 13th I'm gonna give them until Monday the 16th and the closing day that same would be June 20th cuz I'm already squared wait am i dancing otherwise I would probably make it 60 days then we'll go down here context contingent on financing so come in conventional loan you know fixed or adjustable rate blah blah blah so this is you know something you obviously discuss with your buyer you know if they have an interest rate limit or something on their make application within 5 days I'm just going to keep that standard now we have closing costs to be paid okay so very important here on a standard contract we have repair limits and by default it's one and a half percent the seller might pocket that with a very very expensive property but I'll start out at one and a half percent and if the sellers come we're going to counter back on something else and so be it but what and a half percent is basically nine thousand dollars so that means that they're they find any warrant and is any items that that need to be repaired per the contract they used to be called warranted items another called general repair item and so let's say the window is an opening or there's something you know mechanical that has to be fixed that the seller agrees to pay for that up to the one and a half percent if you have a higher and property you could put in a fixed dollar amount you know so you could put in here let's say up to a thousand bucks or two thousand bucks the seller on a higher priced is the Sept 9 2007 may very well counter back and make this zero or make it one percent or half a percent but I'm just going to leave it here and one after so the same thing for what destroyed organism treatment that obviously wouldn't cost ten thousand dollars to do that so what I was going to leave it open because it becomes a negotiation item titled evidence I think that blank to know here who's going to pay for title it's either buyer pays and selector or seller pays and selects I'm gonna put in here that the buyer selects and paste but I'm going to ask the seller for the concession home warranty looking to worry about that so I put an a and then that's pretty much it here on check boxes and items to select till we get to the very end and so at the very end we want to make sure we reference any additional trims and items so the first one is going to be the condominium Rider very very important okay it's a condominium we could put in Chinese drywall if it was built around the time that there was trying to strive wall let's take a look at when this was built here in 1983 so I'm not concerned about Chinese drywall because it was right about 2000 or 2005 and I'm also not concerned about that base paint there's nothing in here that talks about sellers properly disclose your statements so here's what I'm going to put it under additional terms I'm going to put in here a seller's property this or your statement is attached and incorporated here in and then the second thing I'm going to put in here is the parking space so we have here under building parking space ghost with five million let's see if I can just copy and paste that so the book be yeah I'm just going to copy and paste it right in here okay and and that's it for right now with respect to the offer I'm going to click on save here so it's saved you want to close it for right now now I'm going to go into the condominium Rider now the common condominium rider here it's very straightforward now approval is required there's not at all application fee now the buyers not approved then the bike would walk if you put a contingency in here okay first right of refusal we don't know that the association is official refusal we're going to presume that they don't okay and we're going to assume that they do not have a right so in other words it's not contingent on the current Association members to approve the deal fee assessment 525 per the listing we don't know anything about assessments the MLS listing didn't talk about assessments so we're going to keep that blank of course it turns over there's an assessment thing that would become a point that the bar get used to cancel now here we have a very important a selection to be made with respect to the documents and we want to select this one here obviously and the green is widel a buyer but living with notice blah blah blah within 3 days of receiving all of these documents and here is bio requests card counting the documents very important you could select does not request and then this one would be the buyers receipt if the documents will receive okay now here talks again about the parking space so we're gonna add that in here 138 parking space 138 now we'll go ahead and save this now alright so now we have these two documents and I'm going to download these documents and I'm going to download them one at a time so it doesn't put them into a zip file I'm going to download this here you know uncheck this lock for me okay that's not it just see what happens when we get into DocuSign so we have the convenient rider okay and now let's going onto the other one download in the contract so now in this folder that we created we have all three documents so now let's go to DocuSign and i'm going to log into our DocuSign the most important thing to remember what you use DocuSign is that you want to include all of the documents in your transaction into your package so you don't want to send a buyer five different DocuSign things that are just going to be annoying okay so in our case i'm going to upload a bunch of documents i'm gonna upload all three of these here first of all and then we also have a buyer disclosure that we want to have the buyer sign as well okay so we have the contract the writer so we can I think we arranged it come to rider sellers disclosure and then the real buyer property thing okay no if I had a proven letter a lender approval letter I would add that here as well because I want to put the entire package together then I'm going to send on automatically to the listing agent I'll show you how to do that get aside so now we're going to go to the recipient and we're going to set the signing order so the first thing is going to be you know selling home home buyer of course we're going to set this off but I'm going to set it up here as if so the selling home buyer she needs to sign okay then we're going to add another recipient which is going to be me and I just need a copy okay because I don't have to sign anything here if there was a let based paint then I would add myself to sign as well because I'll have to them you know sign something for that base paint but I want to get a copy because we have we're using a team account I need to put it myself here to receive a copy but then I'm also going to add the listing agent okay so the listing agent I will just copy and paste her information from here but for right now I'm just going to put in here a listing agent listing and agent net and just receives copy okay then we have a message to all recipients then I'm going to rename this a little bit here I'm going to here offer to to purchase for property address okay I'm going to put probably others in you please find enclosed offer to purchase for this now remember you as the agent are going to get a copy when inside and the listing agent also gets a copy so this is going to be the message that it's going to be sent to the listing agent and you can put some more information in here thank you so much blah blah blah and what I would do is I would immediately when I get my copy I know the listing agent got a copy too I would then send a text message or call or email the listing agent let them know hey you know you just received a copy so this makes it easier you don't have documents come back to you and then you have to for them to a listing agent you can just set it up so the listing agent automatically gets it the second the buyer signs it and then the listing agent get forwarded on to the seller most likely this thing is just not coming in to the sellers information to send on24 for signature but it just makes a little bit easier and we're going next here and now we obviously set the initials so we got you know buyer initial here by our initial here I'm just going to go through the whole thing just to make sure you understand exactly how it's done by initial here and of course you know there were two buyers then you would do it once again for the other buyer just click on to the next person by our initial bar initial now I'm very very comfortable after having done probably thousands of contracts that I have in here what I need but I will still review it carefully before actually uploaded to DocuSign so you know I'm trying to save us some time here but I would definitely look at all the documents after they're saved as PDF to make sure and go over every little item that nothing is missed because you don't want to fire off a thing and by the way I noticed I did forget something here that I mentioned earlier that I wanted to do I didn't do here but I would put down here would have been be actually building partner space and then see I would have had so to contribute up to three percent towards buyers pre-training closing cost so didn't do that here if I saw this right now as we're doing it I would go back into from simplicity update the contract go in here and just updated and and correct it and save it and download it again and redo it because you know it has to be perfect then signature of course he got buyer side date signed here and for some strange reason again the initial here and just work your way through here you know fire and your show and there's no other initials than on these pages here for some reason so what I always personally have done is I'm just going to go ahead and put a little initial at the bottom of every page anyhow and just come on and then we have the sellers property disclosure statement of course by your initial it's only three pages by our initial and of course you want to stress to your buyer that they need to read all of this and not to sign it unless it is acceptable to them okay and then give me a half hour one little disclosure that I will have them initial and assign as well and then v game on fire I'm going to use this field here where is it me they go and then I can hit set and send it off and the document goes out to to all of the points so that's basically in a nutshell how I would do it and so you generate everything out of form simplicity here which is linked directly to the MLS here with the little icon here download everything into a temporary folder which I always put on my desktop initially because then it's easy to find you know my desktop here samer transaction I have the documents here and upload everything into DocuSign and it's done and then sent it off and one of the recipient parts I always put myself as a CC so I get a copy of everything at the end and then I would also add the listing agent as a CC if they're true listing agents have both of them because in that way you know and you have a record that they received it and then once you get your copy the same instant they get their copy and you just call them and let them know hey we just sent an offer to you and make sure that you include everything in this document DocuSign document even if it doesn't need to be signed you know approval letters anything else that you may have that you want to submit to the seller to the listing agent just included here in the document page and it'll all be ready to go so that was that thank you so much for tuning in how to do a contract and offer out of the MLS through dot through simplicity from simplicity embed into DocuSign