The Poetry of Contracts and TREC Forms:
by Mark H. Pillsbury
If you make an offer then you have to wait,
The cake is baking, in time, in this State:
A contract is in writing, and time is of the essence,
An agent can do it, this doesn’t require your presence.
In life, if we could just write out an “amendment”?
Stating clearly what it was we “intended”.
For 70-years real estate has been governed by TREC
Don’t call yourself a REALTOR® if you’re not a member of
TAR
You better check!
Hit the ball back, and you’ve made a counter-offer,
As long as it takes, to put a commission in your coffer.
True acceptance includes every jot and tittle,
Until the contract is signed, it means very little.
Be careful, but nothing to be held in awe,
Don’t be accused of the “unauthorized practice of law”.
Sellers/Buyers, wholesalers, LLCs, there are many different
entities,
Boundaries, location, and improvements, are some of its
qualities.
A pool above-ground can’t be drained unless you move it,
But there’s a circle spot in the yard?
How else do you explain it.
Have you been told never to assume? (Even at a good
interest rate)
I’ve been called a donkey before; so I can relate.
Every deal is unique, its fingerprints are like a human,
Do the best to squeeze out the value, like a lemon.
Who pays for the title insurance, or the survey?
Count every cost.
But when buying a property with “leverage” - the lender is
the boss.
For 41 years the industry has remembered Lead-based paint,
But most reports issued say – "I caint."
If you buy a rental house you must honor the Lease.
Stay longer than closing and the rent will increase.
Whether by fire or ice – I would choose fire,
Buyers choose a house based in desire.
Option Period pops like a parachute in 7-10 days,
There’s a time to opt out, as long as she pays.
Forms are your friend, they’ve been read and blessed,
Fill them in accordingly and you drain off a lot of stress.
If the buyer’s “contingency” is met by the closing date,
The deal will close and fund, when the addenda indicates.
Pro-rate the Propane, just like taxes due,
And make sure a hurricane’s change of coastal property won’t
affect you?
TREC wants to know how an agent communicates,
But the rules are serious, and your Broker dominates.
That’s 15-hours of class, and 15-hours at home - studying on
your own is great.
Follow the plan my man, at the Champions School of Real
Estate.
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