Earnest Hemingway on Writing Counter Offers and Contingencies

My aim is to put down on paper what I see and what I feel in the best and simplest way. Earnest Hemingway on writing

Real estate Counter Offers are ideal forms for saying a lot without writing much. In fact, if we have a well drafted Offer to Purchase, the less we write on a Counter Offer, the better the chance of being understood and steering clear of creating a contradiction or a whole new issue.

Here’s a simple method of saying the most while writing the least.

You have an Offer where the drafter used  Additional Provisions on page 3 of the Offer to insert this condition:  “This Offer is contingent upon Seller crediting buyer $3,000.00 at closing to be applied toward buyer’s mortgage loan costs and prepaid expenses.” You presented the Offer and the seller’s only objection is this $3,000 credit. Seller is willing to agree to the rest of the terms, provided the buyer will accept a $1,000 credit instead of $3,000.    Pick up a WB 44 Counter Offer. Notice on line 6 the first condition is already written in. It reads All terms and conditions remain the same as stated in the Offer to Purchase except the following:_________________________________.  

Rather than rewriting the entire contingency and possibly altering the intention, change only what needs to be changed.  In this case $3,000 needs to be changed to $1,000.0.

Line 7 of the Counter offer will look like this:

7 (1) Page 3 of 9. Lines 165 to 172. Additional Provisions. Line 167 change  “$3,000.00” to “$1,000.00”.

I like this method as a recipient of the Counter Offer because the wording tells me where to look. Done right, it’s like having an instructor saying: “OK Meyer, See the Offer in your hands? Good. Now first go to Page 3 of 9. Then go to Lines 165 to 172. This is the Additional Provisions section. Here’s all you gotta do,  change $3,000.00  to $1,000.00.

We are licensed  to write terms that make sense, can be understood, and properly reflect the intentions of the parties. If everything else is acceptable, leave it alone and walk the reader through the form to the changes your client prefers. That should work for anyone who wants to be precise and isn’t paid by the word.

It’s none of their business that you have to learn (how to write). Let them think you were born that way. E. Hemmingway

 

 

Author: Tom Meyer Real Estate Broker, Madison, WI

I believe every every Offer to Purchase can present the unique ability of the person the contract is written for. The person who is most compelled to be cooperative, most qualified, most sincere, most committed, least risk adverse, can have an Offer drafted to show their true ability and commitment. Home sellers are likely to look favorably upon those offers which give them the most comfort. Licensees who know how to craft Offers as unique as the individual buyer are worth their weight in gold.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s