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Avoiding Legal Trouble: Proper Real Estate Documentation
Posted on: August 12, 2015 by Newmark Insurance
As real estate transactions can be very complicated, using proper forms and documentation techniques can help mitigate litigation, reducing Texas Real Estate Liability. Whether you’re showing a home, negotiating a sales price, or handling potential repairs, it is recommended you manage the deal in writing in addition to following good business practices.
Work Using Good Form
Providing proper documentation that is specific to your transaction is critical. The form should define the intentions and responsibilities of the real estate agent so as to avoid confusion or discrepancies. These contracts can be found on the Texas Real Estate Commission’s website as well as in your office. Ensure the form is filled out completely and accurately, otherwise the contract is null and void.
Examples of these documents include listing agreements, buyer-representation pacts, and property management contracts. These treaties, in addition to the variety of other contracts, should be used to enforce the professional Code of Ethics.
Paper Trail of Protection
The use of these forms is critical to success as your expertise is required for a smooth and ethical selling process. National Realty News suggests customizing these forms to suit your specific deal to ensure certain stipulations are put on record. A contract negates any surprises, hassles, and misunderstandings in a real estate deal that can result in lawsuits against you or your firm.
Implementing proper business practices, including documenting pertinent agreements, can help minimize real estate risk. At NewMark Insurance Services, we understand the complexity of real estate transactions. We cater to professional real estate industries like yours by providing extensive protection plans to meet your specific company’s needs. To learn more about our products and services, contact our knowledgeable specialists today at (855) 777-6549.