“It’s critical that people take the time to carefully read the contract and know that every aspect of it is negotiable.” – Shruti Gurudanti, partner and director of corporate transactions at Rose Law Group, comments
By Steven Sarabia | AZ Family
If you are in the market to buy a home, starting Thursday, before you can even physically look inside, there is a new and important document you’ll need to sign.
“Consumers are going to be taken off guard. They shouldn’t be scared but they need to know what the contract says,” said Jim Knupp, the deputy commissioner of the Arizona Department of Real Estate.
Before you can tour a prospective home, you must sign a contract with a licensed real estate agent.
“A lot of times you may not have even met a licensee prior to wanting to tour a home and this is going to be a contract tying you to a licensee for compensation before you even met the individual. So, you really need to understand what is in the contract,” said Knupp.
Knupp said it’s important to read this document carefully because you will be locked into having this agent for as long as the document specifies.
