Date of Execution | Certified Funds with Lease | Conversation Logs | No Verbal Agreements – A Michael Clapp Dagnabbit

There have been a few other issues this week that I’d like to cover:

  1. If a form has a date of execution (next to where a client signs) it need to be dated or the document will be returned.
  2. If you’re working on a lease, I would encourage you to put language in Special Provisions about how the first month’s rent must be in certified funds and payable to the listing brokerage – all future payments are to be remitted to the landlord.
  3. Conversation logs are really important.  Your memory fades as the transaction progresses.  I’ve been dealing with a transaction where it is really important to know what happened on which date and the agent is trying to “remember”. If notes had been taken in the file it would be much easier and strengthen our position.
  4. A deal is never a “done deal” until all of the documents are received, signed by all parties, and delivered back to all parties.  There are NO verbal agreements.  We’ve been having some recent issues with clients “changing their minds” after coming to a verbal agreement.  Once docs are presented they’re refusing to sign – that doesn’t feel good.  Please make sure that all parties know that until the other party signs off – they really don’t have a completed deal.

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One Response to Date of Execution | Certified Funds with Lease | Conversation Logs | No Verbal Agreements – A Michael Clapp Dagnabbit

  1. Pingback: Wealth Building Through Profit Share – Jeremy Williams Wealth Building Group April 2013The Woodlands, Texas Real Estate Careers | The Woodlands, Texas Real Estate Careers

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