As most of you know, I sell real estate in and around Cromwell, CT; which is located in the middle of the state.
In this state we have 9 different real estate boards. This means there are 9 different Purchase and Sales Agreements that can be used to write up an offer for a property. CAR, Connecticut Association of Realtors, also has a Purchase and Sales Agreement form. This makes 10 in all of this form that one can use, and all have been written by real estate attorneys.
I used to use the form from the New Haven Board of Realtors, but a few years back changed to the one CAR has issued. Not that any one of them are better than the other, I just prefer the one from the state. To me, it represents the buyers interests the best. The verbiage to me is tighter. For example the state for asks for specific dates, instead of so many days after this agreement has been signed. There are some other reasons as well, but once again it is a personal preference only. Not one is any better than the next. Being located in the middle of the state too, everyone I work with should be familiar with this.
I wrote up an offer on a property for one of my clients, about six weeks ago. I submitted it to a realtor that works out of the Greater Hartford area and board. He called me to say he did NOT like this offer I wrote up. He did not like the time lines. He didn't want me to use this Purchase and Sales Agreement and wanted me to rewrite it on the Greater Hartford Agreement Form (which meant meeting up with my clients again). Why? He wasn't familiar with it and prefers offers on their board's forms. He would be glad to fax me a form. Once again I stated that this was a CAR contract and there is nothing wrong with it. He mentioned, not in so many words, but unless I agreed to this, gave me the impression the offer would NOT be accepted. NOTE: We came in at full asking price.
I am now quickly thinking "Time is of the Essences" here, and realized that if I did not follow his request my clients would probably loose out on the property. At the same token, this realtor is asking me to compromise my professional representation to the buyers, my clients.
This is not the first time this has happened to me, and I'm sad to say probably not the last. A few years ago another real estate agency that is part of the Greater Hartford Board had me rewrite a contract because they WILL ONLY ACCEPT their Purchase and Sales Agreement. I was told this is office policy.. no exceptions. They did not state this on the MLS listing or tell me this when I called to let them know I was writing up an offer. Only after the fact, when I had submitted it. My broker even spoke with the other broker of this real estate company, but to no avail.
Like I mentioned, all Purchase and Sales Agreements in the state of Connecticut are written by real estate attorneys and none or better than the next. If anything, I would think the "CAR" Connecticut Association of Realtor's Purchase and Sales Agreement should take precedents over the others, but all should be acceptable.. period.
Any thoughts?? How would you have handled this?
Info about the author:
Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, as well as the surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.
Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.635.0387 #2 - valerierealtor@sbcglobal.net
Copyright © 2008 By Valerie Osterhoudt, ABR, All Rights Reserved...* PURCHASE AND SALES AGREEMENTS - IS ONE FORM BETTER THAN ANOTHER???*
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Valerie Osterhoudt, ABR
(Accredited Buyers Representative)
Is a Full Time Realtor® with with Johnson Real Estate, in Cromwell, CT who specializes in Homes and Condos For Sale in the Middlesex and Hartford Counties in CT.
Valerie Osterhoudt, ABR ~Johnson Real Estate, Inc.
cell: 860.883.8889
email: Valerie Osterhoudt, ABR
website: www.CTrealtorMLS.com
