massachusetts purchase agreement

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Hi my name is Thomas Simon and welcome to today's training session today I want to talk about contracts there's a lot of confusion amongst agents between sugar here is the standard for what contractors for the unit use it as is contract and what about all the addendums that are required or available the chance with these contracts so to give those are the award new AG's a little bit of a foundation and you can if you're experienced just to give you a different perspective maybe when looking at these contracts I'm going to go ahead and spend the time to go through both the as this contract as well as the traditional Salem purchase contract so you can see the differences between the two of them and make a much better determination which one is better suited for your customer or for your client and if you have any questions please feel free to send me an email follow me and contact me on Twitter or just give me a call or send me a text message I would love to talk to you and get your feedback even if you're not part of our company I think this still will be of a great value to you so without any further ado let me go into Google Drive where I have prepared a number of different contracts to look at and the first one that we're going to look at is the as this contract which is very very popular nowadays and they're bringing blow this up so you can see that and in this day and age short sales are the new normal all the oils are very very popular especially with investors so I can tell you who I own experience as both a real estate broker and the title agent that a huge percentage of contracts are written using the asses contract today so I want to go through it and just some things to you and the mayor we look at the traditional contract you can see the differences between the two couple misconceptions to push out the way just because you use it as this contract it does not alleviate you from having to produce certain disclosures for example a homeowner's association disclosure that is not provided and there is an association the buyer could cancel a condominium association disclosure and economy documents the right of rescission those things are not impacted by the as this contract also the fact that the seller has to disclose any material known facts it's not going to be alleviated by an ass's contract so if you have a seller that notice that there's a hidden defect and they're not gonna disclose it and they try to lean on chunk well this wasn't as was confident he bought it as is could still be very very problematic so the first thing I would suggest especially if you're representing a buyer is that you're going to request a seller's property disclosure even if the seller never lived in a property has no knowledge about it ask them for a blank one or take one and just cross through seller has no loss but you want to have a seller property disclosure because that really is the key document that the seller uses to disclose no material facts all...