Watch Jeff’s Video on New Real Estate Contracts
In the mid 1980s Coke came out with new coke. It did better in taste tests and was designed to compete with Pepsi. Coke responded by launching “Classic Coke”.
Like Coke, there was a new contract launch of a new contract that went from four pages to eleven pages. Explanations range from input from real estate attorneys up north using contracts with more binders to changes in the market and FHA type loans needing greater protections. One of the pages is 50% indemnification clauses for realtors. Inspections are now a three part process. Execution of larger contracts increase the complexity of every part of the process such as things like faxing and email attachments.
Contracts that are larger are more intimidating and cause more people to engage attorneys for reviews. Inevitably, more complex contracts create more opportunities for exiting the contract as well.
You can see the New Florida Real Estate Contracts at Jeff’s Website.
Jeff Specializes in Palm Beach Gardens and Jupiter homes for sale in Admirals Cove and PGA National.
