Speaker 1: So, I don't know and I don't know yet. It's just too much right now, so I'll probably figure it out when I'm laying in bed tonight trying to go to sleep and I can't stop my brain. So, okay, here we go, just so I get through this before I need to leave. So the very first thing that I do, I always do, is I will pull up the address of the home. So I'll do 779 South, 5280 West, and then I grab this MLS number and I copy it and then I open up another Utah Real Estate tab and I go into my forms and then I go to the Legacy Forms Library. And then in here, I'm going to grab all my different forms. So I like to type in real and then do a space, because then I'm going to get my real estate purchase contract right here and I'm going to click on the green button and it's going to add it in. And if you need an addendum, it's right here at the top, Utah Real Estate Purchase Contract Rep C, or Addendum to Real Estate Purchase Contract Rep C. And then, depending on what you're going to write, you'll have your addendum there. If they have a property to sell, then you would do your subject to sale of properties by your addendum, put that there. We are asking for a contingency for a replacement property. And so you're going to add the subject to seller securing replacement property. And then, because we're in the same brokerage, we have to have our limited agency consent agreement. Okay, so I just type in limited. There's our limited agency consent agreement and I add that there. So depending on how you're going to write, these could possibly be all of your forms. So your Rep C, your addendum to your Rep C, subject to sell a buyer's property addendum. If they have a home that they have to sell, it's contingent upon, you're going to add the subject to seller securing replacement property and the limited agency consent agreement since we're with the same brokerage. Okay, once you have all of that there, you're going to come up here to create packet. And it's going to load all of it in. So the first thing that you can do is go over to this auto-populate form. And this is where you're going to put your MLS number. Okay, and you're going to click load. And it's going to load in everything it can pull off of the MLS, our inclusions, our exclusions. Now you'll type in your buyer's name right here. So I'm just going to say Austin and Allison Glover. And then it will have buyer Salt Lake City. And then it's going to have your agent name there. So you'll see Andrea Marks there. And then seller common fields. So you'll type in the seller name. And if you don't know the seller name, how you get it, is you go back to the tab that has their listing. And you can come to the tax ID. And you'll see right here, it's Mike Hubbard. Okay, so now you'll go back into your forms. And in here, you'll type in and I apologize because now I'm doing this one handed. Mike Hubbard, and it has everything else loaded. And the date of offer is going to be today's date. And then I am going to scroll down here. And I'm going to click fill and update fields. Says updating the form. And now it's done. So now you come back up here to the auto populate forms and click that and it goes away. And now you're going to see a lot of your REPSI and everything filled out. So it has our offer date, it has our buyer's name, it has the seller's name. And then what you need to fill out is the earnest money. So how much earnest money are they going to offer? We'll say 4,000. And then I always like to put in here for how it's in the form of, I say a check or a wire, however they would like to send it. And so I just put their amount and the check or a wire here. Now your property address and everything, your tax ID has already been put in there. Included items are already there. And then other included items were populated. So you're going to click the other here. It's going to say the ceiling fan, the dog run, the microwave, the range, the refrigerator and the window coverings. And then this next section says are or are not additional items of personal property by your intends to acquire from seller at closing by separate written agreement. We're going to say there are not, unless you guys want to try to request some of this personal property. Then the next is the excluded items, which is the dryer and the washer. And then the water services, there are no water shares on this one, so you won't worry about that. This just states that all of the water rights or shares are already included unless you specifically exclude them. And then Section 2.1 is the payment of the purchase price. So you're going to say how much you're offering. So I'm just going to hypothetically say you guys are offering $770,000 because that's what we're listed at. You guys offered $4,000 earnest money. And let's say that they're going to give a 20% down payment. So I would do my calculator, $770,000 times by .2 for 20%. So they're going to have a down payment of $154,000. But they're already giving us $4,000 in earnest money. So I'm going to take out my $4,000. So the amount that he needs to bring to the table is $150,000. So that's going to be Section E, Balance of Purchase Price at Cash. I'm going to put $150,000. All of this has to add up to $770,000. So now we have to say that he's getting a loan. So we're going to say, okay, at $770,000 he's putting $4,000 up front for earnest and he's bringing $150,000 to the table at close. So he's going to get a loan for $616,000. And that is how you fill out the Section 2. Now 2.2, Sale of Buyer's Property. This just states that if they are contingent upon the sale or if they're not. We'll hypothetically say your buyer is, since I already added in that addendum. If you click that the buyer is, then you have to add in the subject to sale addendum. Okay? Because it states it here. If checked in the affirmative, the terms of the attached subject of sale, buyer's property addendum apply. Okay. So Section 3 is Settlement and Closing. So this one just talks about the settlement date for Section 24D, which is at the bottom. Closing means that settlement has completed, the proceeds of any new loan have been delivered, etc. Possession. This is what you're going to have to fill out. So except as provided in Section 6.1 on A and B, sellers shall deliver physical possession of the property to the buyer as following. So you guys can say, okay, once we close, we either want it upon recording or we're going to give X amount of hours or X amount of calendar days. So let's say you guys say you guys get 30 calendar days after recording. Okay? Now all these are hypothetical numbers. So special assessments. Now if the home were in an HOA, then this is where we negotiate HOA transfer fees, etc. So special assessments, I always say the seller here. So it's any assessments for capital improvements as approved by the Homeowners Association or as assessed by a municipality or special improvement district prior to settlement deadline shall be paid for by the seller. So if somebody's going to special assess the home, you're going to say the seller has to pay for it. My buyer won't, as long as it happens before closing. Okay, 4.3, this is the transfer fees here. So C just states that the transfer fees will either be paid by the seller, by the buyer, or split equally between them. So in this case, because we're not in an HOA, you can just put seller for both of them. Okay, so confirmation of agency. So it's automatically going to add Michael in because he is listed as the listing agent. I'm the co-agent, so you can just keep it as Mike. You'll click seller for the top two, and then you're going to click buyer for the bottom two, because you'll represent the buyer. Title and title insurance, this just states that the seller will get title insurance for the buyer. This seven states that we will provide the seller's disclosures and anything else that we have. Now eight, buyer's condition of purchase. So due diligence condition. So this states that the property, the buyer's obligation to purchase the property is conditioned upon the buyer's due diligence, meaning they can cancel on us during their due diligence period, no questions asked, they get our earnest money back. If you say is not here, then the buyer does not have the right to cancel based on due diligence, nor do they really have a right to do any inspections, things like that. They would have to get permission from the seller. Section 8.2 is the appraisal condition. If they are financing, you do need to state that they are conditioned upon the appraisal, not appraising for less than the purchase price. If they can get an appraisal waiver, if they're putting enough down, they might be able to get an appraisal waiver and you can say is not, but to protect your buyer, you're always wanting to protect them and say is. Now 8.3, financing required. If they're cash, you're saying no financing required. But if they are financing it, you need to click the radio button on B, meaning that it is conditioned upon the buyer being able to get financing. Section 8.3 B.I. is my favorite section that most agents don't really know about. This just states that if the buyer cancels after due diligence, but before the financing and appraisal deadline, they will have the opportunity to cancel and get all of their earnest money back still if their finances don't come through or the appraisal doesn't come through. But this is an area that's really good if you're in a multiple offer situation to use because it puts more skin in the game for the buyer. I do counter back this section a lot as the listing agent because I want to see more skin in the game for the buyer. So this section just states that if the buyer cancels on us after due diligence, but before financing and appraisal, and it's due to any type of financing, like their loan terms, they don't like their loan, they can't get it approved, then X amount of their earnest money will be refunded to the seller for liquidated damages. So depending on how competitively you guys want to rate, you can put something there. Additional earnest money deposit. I usually don't offer anything here, so I'm putting will not. It's very rare that I see something there. Section 9. You are going to have addendums. So if you're rating anything in just a regular addendum, I just say yes, addendum number one. And then if I'm doing a seller financing or FHA, you're going to check those. Or I'm going to say other. And in here I'm going to say subject to the sell of addendum 2. And then we'll say, well, unlimited agency doesn't have an addendum. It's just separate. So subject of sell of addendum 2. I actually don't know right now if you need to add in the limited agency. You could just put it in here. Unlimited agency agreement. Because it is, I think it has an addendum number. I'll have to check. Section 10 is a home warranty. So if you would like the seller to buy your home warranty plan, or if the buyer wants to buy their own, you can say it will be included in the transaction, it will be ordered by the buyer, selected by the buyer for, we'll say 600, and paid for at settlement by the seller. Going down more, mediation. I like to say may at the option of the parties. They could do mediation or just go the full extent of the law default. And then the last that you need to do are your disclosures. So I like to give people, so if I'm writing, so for instance, if I were writing this offer today, I would say, okay, by Wednesday we should be under contract. That would give us some time to negotiate. So I'm going to say you're going to give me your seller's disclosures by Thursday the 24th. And my due diligence, if I go under contract on the 24th, then really I can finish it by Friday the 1st, or you might say Tuesday the 5th. And you're going to have to check the financing appraisal deadline and the settlement deadline with Mandy and Amy and make sure that they can meet it. So you just need to call them and say, okay, if we go under contract by Thursday the 24th, what settlement date and what financing appraisal date can you meet? So really, they can do a lot of things in three weeks, but they might not want to be that aggressive. So you could say there's one, two, three weeks for financing appraisal, so the 14th. And then a settlement would be the week after, so 21st. So we're about 30 days here on our time frame. And then you're going to say, okay, it's after 5 here, so maybe you guys want to give us until, we'll say, I do try to just write it a 24-hour response time, okay? So it depends on how you would like to rate that for your response time. And then you're going to come up to here, and you're going to say next form, okay? So it saves that form for me, it's going to give me my next one. I'm going to say this is addendum one. And this is where we can ask for closing costs, or you can do actually a lot of different things in here. So you could put in the subject to sell securing your null replacement property. So let's say you guys ask for closing costs. You're going to slide that over to the selected clauses section, and then you're going to click load selected clauses. And then here's where you're going to say, okay, we want $13,000 in closing costs. And if that's the only thing there, then you say, again, the seller has until, you know, whatever deadline date you want to give the seller. Be courteous and give them more than, give them 24 hours if not more. Okay. And then I'm going to click my next form again. Now subject to sell a buyer's property. Now this is my addendum number two. Because I've already done the other addendum as one. And I'm going to mark that this is an addendum. Oh, wait. Let me go back to my previous form. I didn't do that at the top on the other one. Okay. You're going to mark that all of these are addendums. They're not counter offers. Okay. So subject to the sell of the buyer's property. So you would put their address in here. And then if it is listed on the MLS, you're going to say is. And then the name of the person in the brokerage who will be listing it. And then you put here if it is or is not under contract. And again, the response time. And then you click up on your next form. So if they want to allow the seller to secure a replacement property, we're going to say, okay. Well, this one's number three. Addendum three. Again, this is an addendum. Everything's loaded up here. So subject to seller securing replacement property. So seller's obligation to sell the property is conditioned upon seller entering into a contract to purchase or lease a replacement property and being satisfied with the replacement property's physical condition, appraised value or financing conditions by 5 p.m. on what date. And then you guys might say, okay. We're going to give you 30 days to do that. Which actually would be our settlement deadline. Talk to Mike about how you guys want to do your dates. Okay. So we'll put a date there. Again, and then you'll put what your response time is under your next form, which is going to be your limited agency. And we're going to come down here and we're going to say that there are B, two agents here. The buyer and the seller consent to, and then you'll put Michael Walters or me as the seller's agent continuing to represent the seller and your name as the buyer's agent continuing to represent the buyer. So you don't have to put this one into the REPSI because it does not have an addendum number. And I can actually jump from them through the dropdown window. So if I go here, I would actually go back to my section nine. I would take out my limited agency. But what I forgot was subject to seller securing replacement property. Okay. And then from there, you can do, you can save your packet so that you're able to go back in and edit it. And then you would print it and say, yes, you want to generate all of it. And then you just download it as a PDF onto your computer, and then you'd throw it into DocuSign from there. Okay. So I have to run to go teach dance right now, but I will be back and I'm happy to help answer any form questions that you have at that time. I just can't tell you how, like what to offer, but I can help you understand the forms. So just, I will be done by 815, probably home 830, 845. And so I will give you a call when I'm finished and see how it's going. And then we can talk further so that you'll have it ready to send over to Mark. Mark Mike. His name's Mike. Okay. See ya. Transcribed by https://otter.ai