This Contract TRAP Can Cost You Thousands! #realestate #title #realestatecontract

Are you doing real estate deals in Arizona? You need to hear this! In this eye-opening video, we'll reveal crucial information that could save you from costly mistakes. We interviewed Jody, an experienced escrow officer from Fidelity Title, who shared a little-known nuance in the standard real estate contracts used in Arizona that could catch you off guard.

Imagine depositing nonrefundable earnest money on a property only to find out later that the seller can't convey a clear title on the day of closing. But here's the catch - even if your earnest money is nonrefundable, you could still get it back if the seller fails to meet certain conditions precedent, such as being able to convey a clear title.

As real estate investors, we've been on both sides of the coin. We've had deals where we had second thoughts and were able to cancel and get our earnest money back, and we've also experienced deals where the seller's failure to fulfill their obligations resulted in the buyer canceling and getting their earnest money back, leaving us frustrated.

That's why it's crucial to know the contractual traps and ensure that the seller can convey a clear title on the day of closing, regardless of whether your earnest money is refundable or not.

Don't risk losing your hard-earned money! Watch this video now and learn from Jody's valuable insights.


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