By Gary S. Mueller, Mueller & Associates, LTD
Unbelievably, this is the last newsletter of the year! Wow! I will keep this Musing short as we close out 2019.
First, I just learned that the Will County Bar Association approved the Mobile Home Contract and Listing Agreement for Mobile Homes. Though the Association did not need to approve the listing agreement, the Board did so at its November meeting. Your Association will have contracts printed and ready for use in the not too distant future. Please keep an eye out for notification from the Association or feel free to call to check on the same shortly after the new year.
Second, I had a question posed about the 7.0 contract. Long story short----buyer and seller initialed both the waiver of inspection as well as the AS IS optional paragraph. The Waiver of inspection is an affirmative representation by the buyer that he was going to purchase the property WITHOUT an inspection. The AS IS optional paragraph provides that the property is being sold AS IS, but that the buyer is entitled to an inspection but either accepts the condition of the property or disapproves the condition of the property (and thus, buyer can terminate the contract). In that case (I was NOT one of the attorneys involved in this deal), the buyer insisted that he be allowed to secure an inspection while the seller insisted that no inspection was allowed as buyer specifically waived the inspection. In my opinion, the affirmative waiver of the inspection by buyer trumps the reference in the optional paragraph to sell the property AS IS and allows the buyer to complete an inspection. Practice tip---make sure to reconfirm that the paragraphs of the contract make sense after you have your client execute the agreement.
Third, in another practice point-----there ARE residences in our area that have public water while maintaining a private septic system. Be careful to know this for the property you are working with in every deal. Be careful to make sure you are aware of the conditions of the property before writing the contract. If you suspect that a buyer or seller may have made a misstatement in a representation, it is ok and professionally expedient to reconfirm all details with your client. Also, a final practice tip----be careful when using docusign. Docusign DOES NOT connote or denote that the person who hits “signature” or “initial” on the computer prompt has actually read the provision or page or that the client will be bound by a docusignature when the program directs the client to the end signature or initial and DOES NOT stop at each line to allow the client to review the representations in the document to be executed.
Finally, on behalf of my firm, Gary S Mueller & Associates, Ltd, may you and those dear to you enjoy a blessed Holiday, Happy Hanukkah, Merry Christmas, and a wonderful and prosperous 2020. May your business and personal plans be fulfilled in the coming year. Thank you for allowing me to work with you.