When representing a buyer who makes the decision to purchase real property from a corporate seller it is very important to keep in mind the delays that may be encountered when requesting signatures on documents. Many brokers have disclosures and forms that have been developed for their offices and where they would like to have buyers and sellers to acknowledge receipt ofÂ Â addendum and various other forms are generated as a result of a lender or some role player in the transaction needing to secure seller signatures.
In theÂ former days, the listing agent would simply schedule an appointment with the seller, usually Tom or Mary Jones, and have the documents signed at the kitchen table. That is not how it works with corporate sellers in today's market. Obtaining a signature can take as long as three days or more. The asset manager may not open the mail, the email may be lost in a sea of other emails, the signing authority for your request may require approval from another person, or entity, and lastly the request may not be written in a manner that will allow the seller to sign.
With that thought in mind I would like to remind my fellow real estate professionals about writing those addendums. Please stick to the facts. The addendum is not the place for you to tell your story about how frustrated you are with waiting. Stick to the facts and we listing agents can get you that signature much faster. When you need an extension for closing just ask, and state the reason why in a clear and concise manner. Don't try to use this as an opportunity to send the seller a message! The seller won't sign, and your delays will be greater. Thanks for your help!