Other Real Estate Transaction Forms & Agreements –
Multiple Counter Proposals SAVE THE DATE
RASCW and SCWMLS Installation Dinner Thursday, January 18, 2018
Nakoma Golf Club, 4145 Country Club Rd, Madison
Registration and Networking Begins at 5:00 p.m. Dinner Served at 6:00 p.m. – Program to Follow
Join us for a special evening as we install our 2018 Presidents along with the new officers and directors.
RASCW 2018 Officers and Directors Stan Hill, Stark Company REALTORS® Chris Stark, Stark Company, REALTORS®
, 2018 President , Vice President
Janine Punzel, 360 Commercial Real Estate, Treasurer Mark Gladue, Lauer Realty Group, Director
Mike Lenz, Fairway Independent Mortgage, Director Nancy K. Smith, First Weber, Inc., Director Cindy Ulsrud, First Weber, Inc., Director
Scott Walker, Walker Real Estate, Director SCWMLS 2018 Officers
Jenny Lancaster, Century 21 Zwygart Real Estate, 2018 President Dan Bowden, Restaino & Associates, Vice President David Stark, Stark Company, REALTORS®, Treasurer
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2018 RASCW Commercial Real Estate Forecast Thursday, January 25, 2018
TDS Conference Center, 525 Junction Road, Madison Speakers Include:
Christian Beaudoin
Director of Research and Strategy for JLL of the Americas Jason Zook
IRA Loan Officer from North American Savings Bank, FSB
More information on addtional presentations and speakers to follow
1:00 pm • Program 1:30 pm
Networking Reception to follow Event Sponsors
QUESTION: An agent sent out a multiple counter-offer using zipForm and Digital Ink. When the seller received the form, the seller signed on both line 26 and on line 49. When the form was sent to the buyer, the seller had already signed it as accepted. The buyer then signed it and returned it to the seller. Do the parties have a binding contract even though the seller accidentally signed before the buyer?
ANSWER: When using zipForm with Digital Ink, the seller will see two signature fields on the WB-46 Multiple Counter-Proposal. The field on line 26 instructs the seller to sign, and the field on line 49 offers the seller to sign or to opt out. A seller should be instructed to sign on line 26 and opt out on line 49. In this situation, the seller accidentally signed in both places before the buyer, so when the buyer signed, the proposal had all the necessary signatures to become a binding contract for sale.
Whether it is a binding contract will depend on the parties and their interpretation of the events. A buyer might try to claim the contract is binding because it has all the necessary signatures even if they did not occur in the correct order. The seller may claim that there is no contract because the seller did not intend to sign the line for acceptance, therefore there is no meeting of the minds. If the parties do not agree on the status of the contract, they should consult with their respective attorneys.
READ MORE ABOUT IT: Regarding the multiple counter-proposal, see pages 4-5 of the Legal Update
www.wra.org/LU9907. For discus- sion of contract remedies and issues, see Legal Update
www.wra.org/LU9812 and the September 2006 Legal Update
www.wra.org/LU0609.
RASCW Holiday Party
December 4, 2017 • 4-6 pm Beacon Lounge at Bonfyre American Grille
Registration fee is $10 and includes one drink ticket and appetizers.
We are collecting donations for Toys for Tots.
Please bring a toy or cash donation to the party.
30 INFORMATION HEREIN COLLECTED FROM SOuRCES BELIEVED RELIABLE. CIREX/PROPERTY DRIVE IS NOT RESPONSIBLE FOR ITS ACCuRACY.
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