Home Buying in 90025>Question Details

Pierre, Home Buyer in 90025

a property is not listed by agent and an investor (who happens to be also agent) wants to buy it must he only useCAR forms?

Asked by Pierre, 90025 Wed Sep 14, 2011

If an agent is not a CAR member, and will buy for himself as investor from private seller, is he obliged to use CAR purchase forms or does he have other options?

Thanks

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Answers

11
Pierre,

Although you can use whatever form you want, the CAR forms have been vetted by attorneys to cover buyer and seller in real estate purchase transactions. Why wouldn't you use them?

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
2 votes Thank Flag Link Thu Sep 15, 2011
Dear Pierre,

Lawyers often draft their own forms...but if you are not at attorney I would be very careful. There are many ways to get in trouble in the transfer of Real Estate.
1 vote Thank Flag Link Sun Jun 17, 2012
Hello Pierre,
Your answer is NO; you can use any real estate contract, and you even can create your own. CAR forms normally are for Realtor use, but many people use them sparingly.

Let me know if I can be of any help in your transaction or need of a contract.
Good luck,
Doug
(323) 285-8864
Web Reference: http://cashrealty.net
1 vote Thank Flag Link Thu Sep 15, 2011
The CAR contract forms are not required for any real estate transaction; however, the benefit of using the CAR contract forms and related addenda and disclosures is that they offer California Realtors some legal protection in the event of a lawsuit tied to the meaning of the language of the agreement itself.

Meredith McKenzie
DRE Broker #01142186
Keller Williams Realty
1660 Hillhurst Avenue
Los Angeles, CA 90027
323-300-1110 - Direct
323-230-9749 - Cell
323-300-1001 - Fax
1 vote Thank Flag Link Thu Sep 15, 2011
You can use whatever form you want. You can even write a contract on a napkin if you want! But I wouldn't recommend it. If you are the buyer, you should have your own Realtor working for you as a Buyer's Agent. He/she can write the offer on the standard California Contract to Buy. OR you can hire an attorney to write the contract. Either way you want someone looking out for YOUR interests, whether you are the buyer or the seller. Good luck!
1 vote Thank Flag Link Wed Sep 14, 2011
You may try and use other purchase agreement forms, but why would you?

CAR forms have been designed by Real Estate legal pros. They are designed to protect all parties involved. They address just about every issue that could come up in a real estate transaction.

Buying real property is not an area I would advise you to cut corners on.

You should use the correct and proper tools of the trade, and for buying and selling real estate in California, no other forms (in my humble opinion) are superior to CAR forms.

Much Success to You.

Kawain Payne, Realtor®
0 votes Thank Flag Link Mon Oct 8, 2012
Hi Pierre,

I am not from CA but generally, any forms or drafted contract can be used as long as the terms and conditions stipulated therein are acceptable to the parties involved in the transaction.

Best of Luck

Maria
0 votes Thank Flag Link Mon Nov 14, 2011
Well it looks as though you have your answer, but ask yourself why do most real estate agents want you to use the standard forms? The answer, the forms protect the interest of the agents first, then the clients. They are not bad forms but the person supplying the forms in a contract can change verbiage to benefit themselves whether they are builders, agents or your own attorney preparing a sales contract. Many attorneys will not use the standard forms since they want to provide more protections for their clients then what a standard contract often provides.
0 votes Thank Flag Link Sat Sep 17, 2011
Write it up on a paper napkin with crayons if that suits you, as long as you use ink for signatures, can make a photocopy and it contains the elements of a contract. (Offer, Agreement & Acceptance) oh! and don't forget to include the date and maybe have a witness or two, if your not using a notary.

P.S. I am not a lawyer and only repeating something I have heard many, many times and have seen it done, (although maybe not with crayons literally but yes to toilet paper)
0 votes Thank Flag Link Sat Sep 17, 2011
There isn't a standard CA RE form other than the CAR forms, which have been drafted and reviewed by the DRE and RE lawyers to cover the most pressing concerns in a transaction. Of course, there is always the CAR Addendum to include other negotiations not standard in the form. You may want to call the Beverly Hills Board of Realtors as they have a store you can buy CAR and other forms in which are much better than the canned Office Depot forms which, in my opinion, leave both parties to exposed to a potential law suit as there aren't enough details spelled out. Of course, having a RE lawyer help draft paperwork is an option. If both parties agree, it may be more cost effective to negotiate a small commission for a licensed RE agent to represent the sale...at least proper paperwork.

Connect with us for more specifics.

Renee' Kische
Keller Williams Realty
323-377-7976
0 votes Thank Flag Link Fri Sep 16, 2011
Realtors (CAR members) provide access to the CAR forms (with some experience thrown in). You could also compare a commission cost vs. hiring a real estate attorney at several hundred dollars per hour to draw up a contract to protect yourself. It might be worth your while to bring in a Realtor (CAR member)--at least on your side. Or why not ask the seller to cover (or split) the cost of bringing in a Realtor to your transaction.
0 votes Thank Flag Link Thu Sep 15, 2011
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