Why We Ask for Things
Why We Ask for Things
- VOF and Pre-Approval – It’s in the Contract!
- RPA 3.H. (2) – VOF [Verification of Funds to Close] is to be provided to Seller. There is a check box to indicate if such verification is attached to the Offer.]
- RPA 3.H. (3) – PreApproval Letter is to be provided to Seller. There is a check box to indicate if PreApproval Letter is attached to the Offer.
- Home Warranty Needs to be Addressed
- RPA 3.Q. (18) – Home Warranty is to be provided by Seller, Buyer or agent if at all possible. If Buyer chooses to waive obtaining a Home Warranty, then Buyer should check the box: Buyer waives home warranty plan. Nothing in this paragraph precludes Buyer’s purchasing a home warranty plan during the term of this Agreement.
- Buyer may also sign the KW Home Warranty Waiver form.
KW Home Warranty Waiver 080724
- KW Buyer(s) to sign individual cover pages of major HOA sections & each month’s Minutes
- To ensure that the Buyer isn’t just signing a “stock” receipt for HOA documents, Keller Williams requires that Buyer sign individual cover pages of major HOA sections & each month’s Minutes.
- This helps in proving that the Buyer was provided a complete set of the various sections of HOA documents package [HOA Demand, CCRs, By-Law, Budgets, Financial Report, Insurance Disclosure, Reserve Study, Lender Questionnaire, etc.] and proof that 12 months of Minutes were provided.
- Buyer & Seller on cover pages of all Buyer-obtained reports and Prelim
- RPA paragraph 12.D.ii states: “Buyer shall give seller at no cost complete Copies of all such investigations obtained by the Buyer, which obligation shall survive the termination of this agreement.”
- The best way to prove that they were provide is to have the Seller sign the cover page.
- An alternative is to specify the Buyer-obtained inspections on the RR [Request for Repairs].