Do I have to use the ASR (Standard Agreement for the Sale of Real Estate) from the Pennsylvania Assoc. of Realtors.

[Mark Eichlin]

I am a new RE investor and my Realtor is telling me that I have to use the ASR (Standard Agreement for the Sale of Real Estate) from the Pennsylvania Assoc. of Realtors.

Is this a requirement in PA, or simply a form this Realtor / Realtor's Office wants them to use? Can I use my own Contract?

I am in the process of having the Contract reviewed to see if it is suitable for my investment purposes, assigning of contract, wholesaling, flipping... and anticipate adding an Addendum for my company's needs.

Is there a Contract that is commonly used and accepted for Real Estate Investors in PA that could be shared?

Your comments and input are appreciated!

Mark

[Jerry Kisasonak]

Mark, Wayne's correct. And it doesn't surprise me to hear that a realtor told you that you HAVE to use their forms. For some realtors that's simply all they know and all they've ever seen. I've even had a realtor tell me that you couldn't buy or sell UNLESS you used a realtor. Insane!

I wanted to add that I would never use the PAR forms (Pennsylvania Association of Realtors) when I'm dealing directly with a seller. There a lot of fluff and consumer protection stuff in there that isn't necessary for investor purchases. You should be able to cover all the basic provisions on a simple, easy to understand two-page agreement. I like to tell sellers that we'll make it incredibly easy, quick and painless for them to sell their house to us. Part of that promise involves having very simple and straightforward paperwork.