See Below for the Full Transcript of this Episode

Hey I'm Wayne Turner. You're watching "The Daily Real Estate" show.

 

Hey I'm Wayne Turner, I'm the broker owner of Turner Real Estate Group.

 

You do not want your front door to look like this.

 

If you want to buy a house just ask yourself these three questions.

 

Purchase these house for literally $500 out of pocket.

 

For more than 21 years I have specialized in the sale of homes.

 

Beautiful day. I'm going to list a house.

 

The reason why I started the show just to give you a quick rundown. I've been selling real estate for 21 years, and closed over 3,000 real estate transactions in 21 years. And the knowledge and the experience, that I can give bring. I just want to make the transaction of purchasing and selling residential real estate, which we specialize in to be easier on the consumer. If it's easier on the consumer then hopefully we put out some information that's easy for agents to learn, and just make the whole process much simpler for everybody.

 

So anyway today I want to talk a little bit about the contract. I have a copy of the required Louisiana Real Estate Commission Contract. So this contract is nine, well this one just depends on how you copy it, it's seven pages, eight and a half by 11, seven pages. When I first started in the business any real estate brokerage could use any contract, and a lot of them were just one page. They were a front page, and then they went to a front and back page. And then they started going to two pages, and then three pages, then four pages.

 

So now they're seven. I'm sure in 10 years they'll be 15 pages long. But just a couple of things to run down here. In the state of Louisiana they call it closing, or close of escrow, or they call it an act of sale. It's Napoleon Law that's what they call it here in Louisiana. So it's a little bit different meaning that we're the only state in 50 states, that call a county a parish.

 

Anyway wanna run down the contract. One of the things people ask me well, what stays with the property. And so here's one of the things that they've changed. All window coverings, blinds, and associated hardware. So a lot of people say, "Well they didn't ask for the drapes." They don't have to, technically it's in the contract. Window, air conditioner units, it's in the contract.

 

Built-in appliances. And people ask me about built-in appliances it's like, "Well what's built-in because the stove can slide out?" And so to keep from the confusion, your stove, your dishwasher, and your microwave, those three things if they're built-in, if they're in the house those are the items that have to stay with the property. It doesn't have to stay, but that's what's customary.

 

The refrigerator's usually a negotiable item. About 50% of my clients say, "We're gonna get a new refrigerator." And about the other half say, "We want to take it with us maybe we'll put it in the garage of our new house." So, that's one of the things that's a negotiated item.

 

As far as price, of course you just put the price in any contract. And if there's anything here on the contract, that you want to not have stay with the property you put it in there. But a lot of people ask me about built-in speakers like, they'll have built-in speakers, and this is what I suggest to everyone.

 

If you have a speaker in your house, a light fixture in your house, something that's within your home, that you want to remove, or you don't want to include in the sale, I highly recommend just taking it down before you sell the property, before a buyer even sees a photograph of it. Just remove it, replace it with something comparable. It's so much easier, and a lot less stressful on yourself there.

 

So people ask me about appraisals, and looking here, and I can tell you that from the standpoint of a homeowner they pay for the homebuyer pays for the appraisal, the homeowner wants to know what did my property appraise. I c