The Tallahassee Board of Realtors (TBR) has just made several changes to the standard real estate contracts approved by the board for use in the Tallahassee area. Many of the changes can best be described as house keeping, but several significant changes have occurred.
First, the old contract allowed 10 day periods for items like finalizing financing, home inspections, wood destroying organism (WDO) inspections etc. These have all changed to 15 days. This is terrific for home buyers and a little disconcerting for home sellers.
At this time, for all practical matters, when a contract moves to a status of contingent it is essentially off the market. There is so much inventory, most Realtors will not include contingent properties for their prospective buyers. So, now instead of sellers biting their nails for 10 days, they will have to do so for 15, this will get them down to the quick.
Likewise, do mainly to changes in the financing process, the TBR has changed to contract language to make closing 45 days from contract date. Before this the standard time was written in at 30 days.
The best change, in my opinion, is that the Buyer's Disclosure is now included in the Contract for Sale and purchase. This used to be a separate document, that many were forgetting or simply not including in the package. This is a big no-no, so having them included in the contract is outstanding.
Some of the other documents have changed as well, but that is for another blog.
If you would like to see the new Tallahassee Board of Realtors Contract for Sale and Purchase, just e-mail me to receive a sample copy.
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My goal is to help people find the best home for the best price with the most protection and least amount of stress possible. If this sounds like what you want, please allow me the opportunity to earn the right to serve your real estate needs. Call me, Michael Lee today at (850) 339-9346.
Michael Lee
Tallahassee Realtor
Homes in Tallahassee
Piney Z Specialist
www.tallahasseerealestatetoday.com
COMING SOON! CORTONA HILLS
Realtor for Leon and Wakulla County. Subdivision expertise includes Piney Z, Myers Park, Buck Lake, Southwood, Evening Rose and Cortona Hills. Tallahassee and Wakulla County residential and commerci
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