How Am I Supposed to Understand the California Residential Purchase Agreement?
What is this I am supposed to sign? Do I have to read all of it?
I know the California Residential Purchase Agreement is long, boring, and confusing! But I also know that its absolutely necessary to understand! Soon, the state of California will require participants in a real estate transaction to actually sign a disclosure stating you have read and understand it when you write an offer. Most clients may peruse it, but never fully read and comprehend the material. I’ve taken the most popular questions that come up, and use these videos to provide clarification to move forward with understanding.
Where do I start? How do you expect me to understand this?
We start at the very beginning. with the title of the document, to understand how the document will be used. My clients learn to understand the nature of their responsibilities, as well as those of the sellers and the escrow company. I try to simplify the RPA, and break it down the most often-asked questions and points of confusion. I want to always keep my clients engaged and understanding the nature of the process.
Really? I have to read this?
Yes, you do have to read the contract. Remember, very shortly you, as a buyer, will have to verify that you understand the contract. Many agents, and most buyers never read their contract-and some agents have no understanding other than the pertinent point of price and close of escrow. The RPA is loaded with advisories, disclosures and definitions that a homeowner needs to understand. My clients understand not only their rights and responsibilities as they work through their transactions. After I explain the contract, they will understand those of the other parties involved as well.