Frank wrote:
On Oct 7, 9:14 am, "Ron" wrote:
Frank wrote:
On 10/6/2011 7:48 PM, wrote:
Sorry this is a bit off topic, however lots of repairs were done to
this home before selling.......

Anyhow,
I have a relative who is going to sell a home on a land contract.
The price and terms have been discussed with the buyer. Now the
paperwork needs to be filled out and legalized.

Please do yourself a favor and do not have a Realtor or real estate
broker draw up the contract or paperwork. They are not attorneys.
They serve a very good function in selling properties, matching up
buyers and sellers, helping to negotiate a deal between buyers and
sellers etc. But they are not your lawyer and, since you already
have a buyer and already have at least an initial understanding
between the buyer and seller about the terms of the sale, you do not
need a Realtor. You need an experienced real estate attorney.

I'm pointing out that licensed realtors know the state requirements
and it is one route that can be taken.

Well maybe, maybe not. Realtors are not attorneys and they are not allowed
to practice law. Drawing up the legal documents for a client is considered
practicing law -- EXCEPT -- there is an agreed-upon waiver of this that was
established in South Jersey in the feud on this topic between attorneys and
Realtors. The attorneys agreed that Realtors could use a previously-vetted
standard legal form for the Agreement of Sale (AOS) and could prepare the
AOS for their clients if they used that form. Included in that form in bold
print is an advisory that the parties should seek legal counsel and that the
form also includes a 3-day Attorney Review Period. All parties have a 3-day
period of time after all parties have signed the documents to have their
attorney review the documents and either void them or suggest changes etc.
Even though all parties had signed, the documents do not become enforceable
until after the 3-day attorney review period.