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Read carefully before signing

famous signature of John HancockDespite today's current environment of not taking responsibility for one's actions, your signature is your commitment to live up to the terms of a contract so it is in your best interests to read carefully before signing.

A real estate investor from California contacted me to list and sell a home that he owned in the Charleston real estate market. He purchased the home and hired a property management company to handle the rental. When he decided to sell, he actually attempted to contact the property management company several times but his phone calls were not returned. After becoming frustrated, he searched for other Charleston real estate agents to help him and found and chose me.

I needed a key to the house and since the property manager was local and his key was several thousand miles away, I contacted the property manager by email and voice mail. I indicated that I needed the key so that I could list the home for sale.

My client heard back from the property manager within minutes this time.

And you might be wondering why. Huh?

Buried in the property management agreement was a little clause that said that the property management company had the exclusive right to list the home for sale whenever that might be so it turns out that I couldn't be his agent. Basically, he is stuck with an agent he doesn't want because he didn't read the contract carefully before signing.

So whether you are signing a contract to buy or sell real estate, mortgage documents or whatever, read carefully before signing. It's your John Hancock that says you will live up to your commitment.   

Published Saturday, June 13, 2009 6:27 AM by Howard Arnoff

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