HBS Questions

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  • Hi Jackie,

    I have a few questions about HBS.

    In the Option agreement, how long do you normally give for the option to expire (before the 30 days extension)?

    Do you recommend the property inspection person or company to the Seller or do they choose the company on their own for the Seller’s Disclosure report?

    I am currently real estate agent licensed in Florida. Would you add something to the effect of “…although licensed, I am not representing the seller in this transaction” to the purchase agreement under the special provisions section?

    Under the Time is of the Essence section of the Purchase agreement, what date is the expiration date? How long do we give sellers to accept offer? I am not certain if this date is soon after the scheduled HBS.

    Would you normally have them sign via an online document signing site?

    Do you open the closing as soon as you sign the Option or when you sign the Purchase agreement with the winning bidder? Which paperwork would you normally send to the Title company?

    Any tips on finding a good Title Company to will work with?


    I’m usually meeting sellers face to face so I’d have them sign the document when I meet with them

    I get a 30 day option. I rarely ask for an extension. If I can’t sell it in 30 days doing a HBS, I won’t be able to sell it in 60 or 90. I do sometimes include that the buyer may need more time to get financing but I usually sell to cash buyers so that is not necessary.

    I get a title search when the option is signed just to make sure there is nothing hidden out there.

    Since I’ve never been a licensed agent, I’m not sure what language is required to reveal that you are licensed but acting as a principal in this transaction.

    Thank you Jackie.

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