Some graphics included in this document are trademarked or copyright ChoiceA Inc. CALIFORNIA RESIDENTIAL PURCHASE AND SALEAGREEMENT AND ESCROW INSTRUCTIONS This California Residential Purchase and Sale Agreement and Escrow Instructions this Agreement by and between -1For Sale By Owner FSBO Docs and purposes as of by both Buyer and Seller will be referred to as the Effective Date. 24. Delivery of Disclosures and Information. Seller has 7 days to deliver to Buyer all reports disclosures and...
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Hello attorney broker John Makonnen and we are going to be looking at the California purchase and sale agreement we're going to try to break this up into five minute blocks this first block we're going to do a little bit of intro maybe we'll get into the first paragraph and what's important the first thing other than if you're an attorney you want to counsel your clients and see what they're trying to accomplish you might want to give them the background of the fact that these forms are very slanted towards buyers and that they give buyers a lot of outs the theory behind this is that it makes it easy for a buyer to make an offer sellers want offers and therefore it's easy for the buyer to make an offer because if they're not satisfied with the inspection or for many other reasons they can get out now that's not in a seller's market that might not be what the seller wants you want to discuss these things with the seller you might want to strike out some of these clauses that protect buyers or you know in in in what I've worked with when working with high-end clients especially when there's a sophisticated buyer and a seller on high-end properties they sometimes just go down and one and two three-page agreements so this is an agreement that's designed for a balanced market to encourage buyers to make offers and you know you should know that when you're looking at these forms the next thing so that's what I like to talk to my people about and then they can make decisions but the next thing or maybe there should even be the first thing you want to make sure you're working with the most recent agreement if you're working with the California residential purchase agreement that's put out by car now as an attorney I like to work with it because hey there's an advantage to drafting clauses and if you're looking at someone else's work it takes much more brain power and there can be many more mistakes so I really don't like working with other people's forms unless my clients are really understand that a lot of money could be spent just reviewing the contract so it's not really in a lot of people's interest to do it that way maybe in the interest of the seller to set it up that way or the buyer but the person on the other side might not want that so the first thing I want to do is to make sure I'm working with most reason for the most reason forms because the older forms sometimes sellers I'm sorry buyers especially investors like to work with the older ones because there are certain things in those forms that buyers and particularly investors found advantageous so once again 10 we're working with the 12:15 contract I would always check to make sure that's what we're working with so especially if you're familiar with them over time you're like oh that's a boilerplate clause there's no changes in it so I'm comfortable that I've read it a hundred times um so now the next thing in this wasn't improvement on this form date prepared there's no longer confused...