Jul 15 2016

How to save time and trees in the offer making process


Stop and think for a minute how inefficient the process of making and receiving offers is. Why do we need (or want) all the paper generated by the 10 page purchase contract and pages of random addendum’s and disclosures, most of which we never use because we never go to escrow?

The standard form California Residential Purchase Agreement and Joint Escrow Instructions is (only) 10 pages. But it’s the laundry list of random documents that really get the paper count up:

  • Buyer’s inspection advisories,
  • Disclosures regarding real estate agency relationships (and confirmation of real estate agency relationships),
  • Wood destroying pest and allocation of cost addendums,
  • Pre-qualification letters,
  • Bank statements,
  • Copies of earnest money checks,
  • Various advisories which I may or may not ever need,
  • Disclosure and consent for representation of more than one buyer or seller,
  • Agent visual inspection disclosure,
  • Cooperating broker compensation agreement,
  • Statewide buyer and seller advisory,
  • Buyer’s agent fax cover sheet,
  • Personal letter from the agent with pictures of the family and dogs,
  • Etc, the list goes on and on.

These documents will be needed from whomever the seller decides to sell the property to, however, we DO NOT (or want) ALL this PAPER at this stage in the process.  What the seller and listing agent truly care about are key economic terms, deal points including price, escrow period and deposit, financing and pre-approvals, contingency periods, allocation of costs, etc. Hobizbo’s Instant Offers lay out these general terms which, upon mutual acceptance, form the basis of a CAR purchase and sales agreement and you open escrow.

Hobizbo offers give both parties a chance to review the key terms of the deal quickly and easily, eliminating unnecessary paper and saving time. Now, we are by no means suggesting a buyer and seller use anything but a CAR form once the buyer has been chosen and parties are going to escrow. The distinction is that we are using a simple electronic process to solidify the main economic and qualifying deal points, before the formal purchase and sale contract is drawn up.

Hobizbo offers can be generated in less than 2 minutes with no paper, fax, email, or docusign! Best of all, it’s completely free for agents to use. As an agent, my time is money. Why should the buyer’s agent have to chase after their client when they can make and negotiate the terms with the tap of a few digital buttons? They shouldn’t. This is why Hobizbo provides both agents and buyers INSTANT GRATIFICATION.

Download our free app now and Hobizbo your next offer!


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