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

Eight Tips to Win the Day in Multiple Offer Situations

In the competitive environment that we find ourselves in today, make your real estate purchase offer stand out.  Inventory levels of residential homes for sale are at an all-time low with absorption rates in most price ranges, way down.  Many sellers are now entertaining multiple offers on their properties and can afford to be choosy.

To help you get that perfect home, here are eight tips to consider when drawing up your agreement:   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