Be specific in your contracts. Here's why.
It shouldn't have to be mentioned, but often a transaction spiraling out of control is the result of a poorly executed offer or counter offer. The reason? Lack of clarity.
We live in an era of automation. Cars drive and park themselves, machinery makes machinery, and transactions can start and close without pen hitting paper. Yet the essence of a successful transaction is not (and may never be) automated, because there are nuances that only humans can address. This is a very good thing; because you can keep your career. Notice I didn't say job; more on this later.
However, those same nuances that offer you career security, introduce a degree of power and complexity that has the potential to completely derail your transaction. Want to see an example?
"Seller to pay closing costs." - (I've seen this one in my career)
OK. Gee, let's see... There are so many questions. Whose closing costs exactly? Is there an upper limit? Does it include a warranty? What about taxes? Insurance? Assessments? Survey? OMG!
How can one statement trigger so many questions? Because it's vague, and you can bet that the seller will have a different interpretation than the buyer. Sound like a fun, rewarding transaction? Didn't think so. Watch the video to see how a simple wording glitch cost me big, and don't let it happen to you!
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