Fill In The Blanks!

Let's talk about one very important detail that should not be overlooked when you are about to sign a purchase agreement.
Blanks! Yes, blanks not filled in on the contract could cost you.


Attorneys for the local real estate board create these contracts and blanks are left to be filled in by your real estate professional so there are no mis understandings when it comes times for the terms of the contract to be fulfilled.
However, so many times I receive a contract with blanks. Blanks about a portion of the legal description, blanks about lead base paint, blanks about financing. Sometimes a realtor may fill out a contract and instead of leaving something blank, they may put TBD or to be determined. So what does TBD mean? Does it mean you as a buyer will do "whatever", does it mean for the seller that if you the buyer determines it isn't feasible you won't do it?


A contract is for the purpose of having specific terms and guidelines to follow. If there are blanks and to be determined areas, this is not specific. What if someone comes in later and fill in a blank? The contract has been signed, so who knows who did that?


Now there may be a portion of the contract that doesn't apply to a specific property or transaction. In this case the blank should say N/A or not applicable. I hope you take away from this segment is to never sign a contract that has blanks or to be determined language. Happy Selling!!