Entry by Susan Lehmkuhl

How does this affect Arizona ACRE's?

  1 Comment

Real estate licensee cannot draft documents after Buyer located

A real estate licensee has a friend who has agreed to buy a home from a FSBO Seller. The friend wants the real estate licensee to draft the purchase contract and other documents for a fee of $300. Can the real estate licensee draft these documents and charge the friend $300?



No. Under Article 26 of the Arizona Constitution a real estate licensee acting as a broker or agent in the transaction can draft documents incidental to the sale or leasing of real property. The real estate licensee, however, cannot charge for the drafting of these documents.
Arizona REALTOR® Digest November 2004

1 Comment

Hi Susan,

There are many other tasks that can be charged for that would/could be applicable in this situation including:

Comparative Market Analysis
Presentation of Offers and Counter Offers
Review Disclosures & Documents
Negotiation and Delivery of documents
Scheduling and Monitoring/ Transaction Management
Accuracy Checks on Preliminary Title report and HUD-1
Attend Home Inspection
Prepare supporting documents for Appraisal
Recommending and Ordering Home Warranty
Attend Termite Inspection
Negotiate Subsequent Contingencies and/or additional terms from inspections
Attend Closing

I hope this helps.

Stacy Erickson

This page contains a single entry by Susan Lehmkuhl published on July 19, 2011 10:09 AM.

Dual Agency Disclosure Fails Homebuyers was the previous entry in this blog.

Animation video with Dr. Buyer and Realtor is the next entry in this blog.

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