The Clock is Ticking

A User’s Guide to Meeting the 14 Deadlines in the Agreement of Sale

When a property goes under agreement, Buyers and Sellers typically breathe a collective sigh of relief.  Real estate agents on the other hand know that the true work is just beginning.

If a standard PAR (Pennsylvania Association of REALTORS®) agreement of sale is used in a transaction, there are 14 deadlines that must be met in order for the parties to be in compliance with the terms of the agreement.  Missing any one of these deadlines can have dire consequences to the party that fails to live up to their end of the bargain. Continue reading

It Ain’t Over Till It’s Over

American baseball legend Yogi Berra first uttered the phrase about baseball’s 1973 National League pennant race.  The team he was coaching was was way behind in the standings but would eventually rally to win the division title.  It’s not the only head-scratching quote attributable to this former catcher.  He is also responsible for “It’s like deja-vu all over again” and the thought provoking “Always go to other people’s funerals, otherwise they won’t go to yours.”

But there is something about the “It ain’t over…” quote that applies to all kinds of situations in life other than baseball that continues to intrigue us.  It tells people to wait and don’t jump to conclusions because the struggle may just be starting.

When it comes to agreements of sale for real estate, this quote should be required reading for both buyers and sellers.  There are at least fourteen instances in the Pennsylvania Association of REALTORS® standard agreement of sale that could cause the transaction to become unglued.  If you get caught looking ahead to the settlement table, any one of these fourteen could jump up and bite you.   Continue reading

Why For Sale By Owners Are On the Decline

Did you ever look at an activity and say to yourself, “That doesn’t look so hard.  I think I could do that.”  Take the example of playing golf.  What’s the big deal?  Swing at a white ball approximately 70 times during a typical four hour round and pick the spherical object out of a gopher hole 18 times and WALLAH! – – – you’re ready to tee it up at the US Open.  That is until you actually get out there and try to do it. Continue reading