Everything is moving very quickly. I put it an offer around three hours ago and apparently the contract is already ready to sign and we’re talking about closing (before I was even informed my offer was accepted). I got a sellers disclosure where the seller checked “yes” to a bunch of stuff in the “are you aware of any problems or repairs needed to any of the following” section. I asked my agent about it since all the stuff in that section was appliances that were supposed to be brand new, and he said it was an accident and they should’ve checked “no”. I asked if I could get a corrected sellers disclosure. He told me to sign the contract, and he’d work on getting a corrected seller’s disclosure tomorrow. I’m leery of signing a contract for the house before I have a completed, accurate SD. He doesn’t seem to think it would be an issue to sign the contract before the SD is fixed. Is it alright to sign the contract now?
My agent (buyer) wants me to sign the contract for a house before I get a corrected sellers disclosure. Is it a bad idea to sign it?
byu/Basilstorm inRealEstate
Posted by Basilstorm
2 Comments
Without a signed contract you could lose the house to someone else.
Seller disclosures don’t mean much. In fact, never trust the seller or their agent. This is why you do your own due diligence.
You’re getting new appliances, correct? Then why worry about if the seller placed a checkbox in the wrong spot?
Most seller’s disclosures provide a 3-day contingency to review. Assuming you have that contingency in place, if there was a problem, you can still cancel the agreement. A corrected Seller’s Disclosure, when you know the details of the correction, isn’t important, since it’s not pertinent to the transfer of the property. Further, when you do get the corrected Seller’s Disclosure, the 3-day review period starts over. In this case, its to your benefit to receive a revised disclosure after Mutual Agreement because it extends your contingency period.