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REPC Sections 11 & 12:the Final Walkthrough and Changes During the Deal (Episode 38) S3 E8
You can watch this episode on YouTube.com: https://youtu.be/BqTCvNIqdMo
View a house on Tuesday, offer on Friday, it's accepted on Monday — Fridge is included, but they replace the fridge with a cheap one on Saturday. Which fridge is included? The Utah state REPC stipulates which fridge you get!
0:49 - Announcement! We're doing the HOT WINGS challenge, where we eat progressively hotter wings while we talk real estate. Stay tuned for date and episode!
1:37 - Aric's story: buyers went walk through a house on a Tuesday, they thought about it for a few days, wrote an offer on Friday, Monday the offer is accepted. When as that contract BINDING?
2:52 - Contract is binding at acceptance, which is important if something changes between when the buyers walked through and the time an offer is accepted. Are the sellers wrong? Are they misleading? Legally no, ethically...maybe. The contract is binding from the time of acceptance until the time of settlement (not before acceptance).
5:05 - Aric's section 11 story: buyers get property under contract with a fast close in a couple weeks. They walk through the home the night before settlement and find the "nice" fridge is missing. There's a hole in the wall that wasn't visible until the sellers moved furniture. The expensive window coverings were missing. That's what the due diligence period is for!
7:43 - The buyers lost the nice fridge, per the terms of the contract. You can be completely legal, but be unethical. What do you think on the hole in the wall? The buyers that lost the curtains received over $2,000.
10:01 - AVOID CONFUSION, BE SPECIFIC. We don't want the sellers offended, and we don't want the buyers confused about what's included.
11:09 - When do you do the final walkthrough? You have 7 days before closing. Have communication with the sellers. Make sure the sellers haven't changed anything. Don't kick out the long term renters. Short-term renters can be accepted during the contract, until the due diligence deadline.
13:11 - What'd we learn today?
14:59 - Bloopers
*No fridges were harmed in the filming of this real estate discussion.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
View all episodes
By Tyler Cazier, Aric Wiszt, & Jason ChristiansenYou can watch this episode on YouTube.com: https://youtu.be/BqTCvNIqdMo
View a house on Tuesday, offer on Friday, it's accepted on Monday — Fridge is included, but they replace the fridge with a cheap one on Saturday. Which fridge is included? The Utah state REPC stipulates which fridge you get!
0:49 - Announcement! We're doing the HOT WINGS challenge, where we eat progressively hotter wings while we talk real estate. Stay tuned for date and episode!
1:37 - Aric's story: buyers went walk through a house on a Tuesday, they thought about it for a few days, wrote an offer on Friday, Monday the offer is accepted. When as that contract BINDING?
2:52 - Contract is binding at acceptance, which is important if something changes between when the buyers walked through and the time an offer is accepted. Are the sellers wrong? Are they misleading? Legally no, ethically...maybe. The contract is binding from the time of acceptance until the time of settlement (not before acceptance).
5:05 - Aric's section 11 story: buyers get property under contract with a fast close in a couple weeks. They walk through the home the night before settlement and find the "nice" fridge is missing. There's a hole in the wall that wasn't visible until the sellers moved furniture. The expensive window coverings were missing. That's what the due diligence period is for!
7:43 - The buyers lost the nice fridge, per the terms of the contract. You can be completely legal, but be unethical. What do you think on the hole in the wall? The buyers that lost the curtains received over $2,000.
10:01 - AVOID CONFUSION, BE SPECIFIC. We don't want the sellers offended, and we don't want the buyers confused about what's included.
11:09 - When do you do the final walkthrough? You have 7 days before closing. Have communication with the sellers. Make sure the sellers haven't changed anything. Don't kick out the long term renters. Short-term renters can be accepted during the contract, until the due diligence deadline.
13:11 - What'd we learn today?
14:59 - Bloopers
*No fridges were harmed in the filming of this real estate discussion.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.