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I think that there are some people out there that believe that real estate agents just fill in the blanks, that there's not a whole lot to it. There's these blanks that need to be filled in, and it's pretty self-explanatory what needs to be done and they just fill in the blanks and that we are just relieving the sellers or the buyers of having to do that menial data entry type work themselves. There's a lot more to a contract then just filling in the blanks. There are many ways for a buyer to terminate a contract and unless that's something that you're keeping up with on a regular basis, you're not going to know what those are.

We have a lot of instances where people are contracted on a property and something has happened. Maybe someone in the family has gotten sick, maybe someone has lost their job, maybe all of a sudden there's a relocation and they don't want to buy the house anymore that their contracted on and they need to get out of it and they need to get their earnest money back, which can be three thousand ten thousand fifteen thousand dollars and they don't want to leave that behind and give that to the seller. So they want to be able to terminate and get it back. Well just because you've been told that you need to relocate does not mean that you're going to get your earnest money back. So a real estate agent, when they're writing a contract, is keeping this in mind that there are certain things that are written certain ways so that if you do need to terminate the contract, you can do so and get your earnest money back. And if those blanks aren't filled in a certain way, then that could really come back to bite you.

In addition to that, a seller is bound to a contract from the get-go and a seller really cannot get out of contract in Texas once it has been executed. So we really need to make sure that there are things in the contract to protect the seller. Even though once we\\u2019re executed, they're bound to the contract, but we can do things such as make the option period short, make the third party financing addendum time period short, make the HOA document delivery short so that the buyer is then bound to the contract shorter in the process than if they take it almost all the way to closing. There's a period of time right before closing where the seller tends to be a little safer. The buyer can't terminate usually for, usually you want a 30 day closing, about 11 days before closing the buyer can't usually terminate depending on how the contracts written without losing their earnest money. But the caveat to that is, it's how the contract is written. So there are certain ways we want to contract a read for a seller. There are certain ways we want a contract read for a buyer.

In addition to that, we have a lot of buyers who make the assumption that because they have large sums of money in the bank and large amount of investments and they bring in a large income as well, that they know that they will qualify for a mortgage and they know how much they will qualify for. And that's not always the case. So if you are a business owner, own multiple businesses, that business income is treated differently than if you're an employee receiving a paycheck weekly. And so that's one of the reasons why we want to get you qualified early on and as seller wants to see that qualification letter come in with a contract. It's not so much what the contract says as it does reading between the lines, if you will. That comes down to what the buyers willing to pay, if the buyer is willing to put down more earnest money, if they're willing to pay some of the closing costs, if they're putting down a large sum of money on the house. These are all things that indicate to a seller that they're a serious buyer.

USE AN AGENT. That's what we're trained to do. We're trained to fill them out so that you are getting the best transaction that you can get out of selling or buying a home.