CE: Contracts – Without a Finance Addendum, It’s Cash!
This course is worth 1 hour of required Contracts (CON) CE
“It’s all cash to the seller.” This is a concept that many clients don’t understand. Most people believe that being able to say, “I’m paying cash” gives them some leverage in negotiating the price.” In the world of business all transactions are considered cash unless there is a written document stating other means of payment. A personal check, credit card, promissory note and yes even certified funds constitute some form of contingency. In a Real Estate transaction, the finance addendum protects the buyer from loss of earnest money and damages by establishing a contingency on the contract. Are we protecting our clients properly or filling in blanks on a form without adequate thought? Let’s take an hour and refresh our memories or learn for the first time the importance of the finance addendum.
Instructor: Larry Starbuck