Assignment #4 · Real Estate Institute-Belize

Assignment #4

NO CONTRACT NO SALE

Having a real estate deal in writing is the most important part of your transaction/ sale.

This is because if you do not have any visual proof that you are making a deal then there is no recollection of it therefore it just did not happen. A written deal protects both parties of a lot of encumbrances, fraud, misunderstandings. For example: There is buyer A that wants to buy a house, seller B over the phone calls and is making the deal... with all the back and forth questions buyer A asks seller B if the house comes with furniture Seller B says 'Yes' now when house is sold all tables, chairs, sofa are gone. Buyer A is furious with seller and demands breach of contract or no commission paid. Since nothing was written then buyer cannot do much, there is problems. If you have your contract well written then we avoid

*all the you said she said stuff

*there is clarity between you and your buyer

*it is the only way it will show you earned your comission and is the only way you will get paid.

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Assignment #4