I am not doing the 3.6 FORM deal

[Sandra Koutsopoulos]

OK, I want to buy your house & write the offer. Meanwhile you get a different offer from someone who offers the same or more money. I proceed to get financing (stupidly) expecting that you have signed the offer, which I show to the lender during the financing. Now I discover you have accepted somebody else's offer in writing without telling me. Whose offer is the contract?

 

[Dublin ohio]

Again the date on the top of the contract. Doesn't matter when it's signed.
If not signed, no ratified offer and no contract to worry about.
You should check with you MLS or Realtor Board that contract date is the first date on contract.
If form was more clear and stated ratified date then it would not be the contract date.

How many time can someone contradict themselves in one statement. Let me count the ways...................

 

[Fernando]

It's not a contract until all principals have signed

Yes but the reference date for the contract is the first date on the top page.
Again, Fannie needs to be clear and failed with the new form.

OK, I want to buy your house & write the offer. Meanwhile you get a different offer from someone who offers the same or more money. I proceed to get financing (stupidly) expecting that you have signed the offer, which I show to the lender during the financing. Now I discover you have accepted somebody else's offer in writing without telling me. Whose offer is the contract?

The one with the earliest accepted ratified date.
Regardless, the contract date is still the first date on the contract.

 

[Fernando]

My advice in using the first date of contract is invaluable.
The appraiser will not have to worry about future changes with counteroffer dates.

 

[Sandra Koutsopoulos]

Offer date is not same as contract date. Contract date is date all parties came to agreement & signed the offer, which could have been written last year in fact. Referencing the offer date is may be a way to keep track of when somebody initiated the action toward something. The contract date is the date the entity on the other end of the agreement actually AGREED. Sometimes its the same date if everybody is in close proximity, or working online, but offer and contract mean 2 different things. Each action has its own date.

 

[Dublin ohio]

Yes but the reference date for the contract is the first date on the top page.
Again, Fannie needs to be clear and failed with the new form.

The one with the earliest accepted ratified date.
Regardless, the contract date is still the first date on the contract.

contract

www.law.cornell.edu

 

[Sandra Koutsopoulos]

My advice in using the first date of contract is invaluable.
The appraiser will not have to worry about future changes with counteroffer dates.

I pray you never end up in litigation with a lucid lawyer.

 

[Artemis Fowl]

Meanwhile over in Facebook world the zit faced geeks think there is going to be a magical Logan's Run Carousel effect when the non-forms roll out. Some actually think their business will suddenly double and high quality clients will be begging them to join their panel because all the geezers went to Geriatric Park. They're going to be in for a big, sad surprise. It's going to be a protracted mess for many months even after they work out all the bugs. At the end of the day they still have to force those non-forms through a lending funnel and they will need boxcar loads of lubricant. It will be the GSEs and AMCs that will be forced to bend over and lube up due to simple supply and demand. This humble appraiser is going to take full advantage of the situation and on occasion toss a monkey wrench or two into the mess....... for entertainment purposes only of course.

You sure have a way of painting a purdy picture with words. Laughing and gagging at the same time over here.

 

[Sadie]

I wish appraisers would just get together and say no to the 3.6. The purpose of the entire exercise is to get rid of us anyway. Let em figure it out o their own! Why would they need so much data, formatted the way they want, except to create a program that is going to replace us. We have been saying it for years...but its finally here.

Its not so much the 3.6, its the implementation of it. Clunky, slow and illogical, oh and boring too!

 

[Sadie]

The format does not allow a blank addendum page be added for additional narrative that might not fit in a box.

The boxes expand to fit the narrative. The report that is generated from the tedious box checking is pretty coherent. The software companies need to get their ish together and think about how they can implement the requirements in a way that won't totally suck for their clients, us, the appraisers.