May 30th, 2017 at 9:57 am
Answer: No, but it’s a good idea. Legally, if you have your signature and the seller’s signature on your copy, you generally have a binding and enforceable agreement, regardless of whether the seller’s copy is signed. Moreover, the CalBRE rule requiring you to give the seller a copy at the time of signing doesn’t specifically require the seller’s copy to be signed. However, putting aside the law, I do recommend that you get the seller’s copy signed by both you and the seller (as well as your own copy signed by both you and the seller). The reason is, if the seller ever reviews the document while considering to cancel your listing, seeing the signatures on the dotted lines will serve to remind the seller that the agreement is legally binding. Also, if the seller ever shows the document to another listing agent, an attorney, or someone else, we want that person to see that the agreement is signed and binding.
-Thank you to Rhoda Johnson (Los Olivos Office) for suggesting this week’s legal tip.
Copyright© 2017 Berkshire Hathaway HomeServices California Properties (BHHSCP). All rights reserved. Any unauthorized reproduction or use of this material is strictly prohibited. This information is believed to be accurate as of May 30, 2017. It is not intended as a substitute for legal advice in individual situations, and is not intended to nor does it create a standard of care for real estate professionals.
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