Are preprinted real estate contracts the same,
or can they be different?
Preprinted real estate contracts can be slanted
toward the buyer or the seller. Generally,
contracts approved by the Board of Realtors or
the Bar Association are “standard contracts.”
You should also beware of clauses that are
“added” to the contract. Some of the areas of
concern that warrant special attention are
Buyer will want contingent clauses based on
Seller will not want any contingency clauses at
Buyer wants title insurance and wants seller to
pay for it (standard).
Seller doesn’t want to provide for it or wants
buyer to pay for it.
Buyer wants all defects to title corrected
Seller wants to back out of contract if
correcting title defects is too difficult.
Buyer wants to pay as few expenses as possible.
Seller wants to pay as few expenses as possible.
Buyer wants Seller to pay all special
Seller wants only to pay liens where work has
Buyer wants no termites and the right to back
out of contract if they are found.
Seller wants to correct termite problem up to
limited amount of money.
Buyer wants a survey.
Seller doesn’t want to pay for a survey.
Buyer wants all appliances, fixtures, etc.
Seller wants extra money for appliances,
Buyer wants roof in good condition.
Seller wants to sell as is.
Contracts can be preprinted with the
language favoring the buyer or the seller.