Due Diligence

Your Real Estate Today
Saturday, May 19th
Amber Holt, from Kostner Law Firm joins Paul to discuss Due Diligence and answers to your real estate questions.

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Provided on the following program is on an individual basis as they should not consider today's discussion as a recommendation for. Many investment and she carefully evaluate before investing. Sure we list eighteen. Yeah. You. Should. Hello and welcome to assure your real estate today it's hall Jamieson we are live in the WBT studios. And what a great day to be in Charlotte it is a certainly a chamber of commerce day out there beautiful beautiful day. To be in this area I think this is why I moved here. So it's a great day. Here if you're just tuning in this is the show your realistic today a poll Jamison your host would Jamison realty were Keller Williams and Jamison property management and this is alive. I've got a great special guest in my admitted there were gonna talk to her in just a second. But let me tell you if you're out there today driving around or your Sydney in Helmand your listen in to us today and I know there's more than three of you which areas. That and I know at least have to theirs a couple of folks dividend Dennis out their lesson and I know for sure. But if you're out there listening today and you have a real estate questions. A real estate legal question a piece of real estate the jury enters Sid and doing something with you don't know if you should do this to it do that to it. He knows it you have a renter has given you a problem if the piece of land you want to do somewhere if you have an upgrade you wanna do think about what all of those things could be. You need to Collins starts. Here's how it works you call 704. 57 around 1110. Again at 704571110. Jesse picks up the found. He gets your quick question make it quick Wear them. And he'll ask for your phone number in case we get disconnected sometimes. We have been known to lose a caller drop a call and we'll call you back. And then we'll put you on the air with us and we'll work through your question together this is not a chastised show this is an information shows so if you are thinking it. We certainly wanna hear again the number 70457. So 1110 and if you're shy. Get over Carl I think it's okay because you are you all's typically call me on Monday because some of these questions are awesome so. Give us what you got and we'll take it but if not. Amber Holt from console and I. Are here to discuss so many things amber welcome this your first time in me thank you so much on happy to be here I am happy to be here with UT. And now amber helps my team out of the cost her law office and not. She has been putting up with me for that the tenure she's had with Costner so far. A so far she's still tig and stick him or me and that's really do. When your folks are over listening today as well right. That's correct there out there listening to good well hello to my at all and that have well how come horn. Blew. A all right Jesse thanks for being on the boards today and let's just go ahead and his first segment and launch into it and if you're out there and you've come up with a question on what we're talking about or even if we're not. Let's go for par so one of the most misnomer. Subjects amber that we. I face. Not only from a legal perspective but also from a contractual respect and is this due diligence still a lot of people don't understand yeah absolutely you know. The best and easiest definition for me. Has always been play away a couple of label it out of my house right. You know. I think you know in looking at the discussions and kind of the notes we had a running back and forth. Tom. Due diligence kind of makes sense now done. It really doesn't mean it it from both perspectives right from about the pot the buyer and the seller's perspective it makes a lot of sense because. On the fireside it's an essentially securing. Then getting them the property off of the market. The SARS robbery of the market while they had that time too if you will do their due diligence right now. So and then at the same time against them skin of the games of the sellers know they're gonna get money for that kind that they take that property off the market. Yeah and and what's interest earning a strategically. If you think about certain segments of the market that we're in right now. It's an awesome too. Absolutely you know I'm not gonna give oil much tricks but the fact I will say NNJ will be within just a second. I'm I'm I'm going to and I'm gonna say. Knew that when you have. A home that has five offers camera you know. Your year in a competitive type situation Chara wouldn't you think the amount of skin in the game. Has some bearing on the outcome absolutely. There 'cause. You know I I look at a lot of things and I say. You know as an offer and I'm working with those seller. It's not always about the top line number. Can there are other aspects are right absolutely for sure you know and during that due diligence time it's a great time where you can look at the defects. You can get your inspections done. You mutual appraisals done you can lock up your financing. And then on the secondary piece of it if you canceled during that due diligence period what happens to you earn as much. Well used to picture earnest money but you are gonna lose that you don't sense right now that's that's up protection piece for the seller but yeah. You know when I'm sitting down where the husband wife. At the table in their kitchen you know and we're talking about the due diligence and on the conveyor glide their eyes kind of glass over a little bit and I say well look at this. If you go to Colson you find a swimsuit you want. And you're not sure. If the sale over belts is gonna have your size. You go put it went away and I absolutely and if docs is have an assailant it's a better deal if you leave it behind. They keep your money and put it right back on the shelf that's right. So it's kind of a great way to really look at that. And say. You know hey finally. There's a little bit of mutual. Skin in the game. Too because. I would say in every situation in the bar wants to buyer and seller wants to sell otherwise you're not going through that scenario Iraqi right. I mean in any don't want the cellar in a situation where the buyers 1000000010 offers on ten different homes in the kind of picking intend Gingrich friend they ever get absolutely. Yeah. You know I'm a lot of times in this in this scenario. I'm seeing due diligence fees and access I think where I see frustration has a lot of the younger agents are putting. You know very insignificant. Amounts down on very high popular property that you are pop jail on first and memos hander or talk to you go ahead. Hey Jerry Alan how are ya I'm doing great you guys thanks take my call are you guys I'm good my friend out county and well I mean not mind more basic I have one rental property. Almost all of a lot of the rules let virtually over the years. On the talk about due diligence we did our research it's close to home I know the neighborhood I know this full. And I like to get another. I'm the only one out here rooting for a chill are real estate crash. That happens and I can afford to buy more rental I wonder who's ever way to avoid the 20%. Just. 100% down as far as for the financing. That's correct. Had a rental income property rural told you had to have at least 20% error. All right so so if I give you one of my secrets she promised not to tell anybody. Let it go all three here Ramirez crock okay all right all the other 25000 people listening to it they're gonna they're just gonna shut there is offered minute. Who are okay all right so let me give you a hint okay. Anytime you go to a traditional bank and you wanna finance apiece or rental property. Once you sign all the paperwork what do you think they do with that line. Well until it reform and an interpreter lower rates and better ceremony coming in yup that is exactly right okay so. What if you went to a credit union. And offer to purchase a piece of rental property what do you think they do. You know I don't know why I don't know this is the federal law or this is guidelines and they never really knew the difference. So I'm still hearing what you're saying I must be guidelines. So what what I'm what I'm suggesting to you is check with a credit union. Because most of the time when it's an in house alone certainly everybody has their own guidelines. I'm not a mortgage offer officer so please consult a mortgage are sure for more information but I did have a good night's sleep last night. So what what I'm saying to you is. Checked. Check with the a credit union and you can join him for five bucks. And see what kind of terms and give you betcha it's better and twenty. I hope graded by sir appreciate you sharing their reconnaissance crew near me you know me man and when you're ready to buy that investment property consider Madeleine to help. I would all uploaded but like your computer time in all the advice I ever predictable there are mature and well. Hey Zander what's going on how are you. I'm doing on how can I or my cow of course to your doctor and I served. I am. I'm saying is and then angle and I own property wall well I've built our own crap in my parents they alienates. And after their diets we go there. They're home okay. But there little Condit going oh yeah and not count Abigail. Do it won't say I'm probably won't even look on this is still current that I own it did not and lay your. And thank you thank that man of the people were so today they're warning has developed. OK and so they have. They just drying the content. Which I'm a big point fairway and then you try and end it dish. It just upset now. Not playing in any way. And I'll. And they they didn't panic that would go gang yeah and lack that you and I are probably Cambridge where it occurred and and I'll turn their back they had a survey. And they're back corner is probably. It probably twenty or 33. Different plumber aren't. Okay hold on one side as you may remember right okay that's that's there's a lot there okay. So let me tell you what we got to do we we are we are coming to a hard break. So just stay on the phone cocaine and and will give you some guidelines but we're probably gonna have to handle most of what you're asking. Offline because herself things I don't wanna ask on the air. So so just hang tight. And other callers hang tight we'll get back with the hard break here but we'll be right back to show your real estate today in his 1110993. Polled Jamison and amber hoped stay let thank him. Welcome back. We're coming back with a vengeance chose Jesse is here. And they show you real estate today thanks for dinner and it just popped off the shows about real estate. I mean you're my good friend and our. Partner to Jamison across our group Amber Holt. She is here taking any of your real estate questions that she can questions you may have. That are appropriate for her and she might answer other stuff too because she pretty Smart lady but thank you call 7045701110. We got Zander Eric Kelly and Steve stay with us where are we are going to get to your cultural quirk. So if you're tuning in 7045701110. If you have a realistic question we're here to answer so don't be stirred pick up found we wanna talk to you we love your questions and others learn to. Our Zander let's finish up with you and them you know Steve was next direct and then not kill you okay. Our zone Zander we talked about your issue at the break your carry. So here's what I want to to do I'm gonna have hand you over. Two. Amber and she is going to give you a number to call so have you got something to write down with. Did okay. Because I would say I'm Nadia and attorney. Amber is but I she's she's gonna need more info. Yeah we absolutely did Zander I really appreciate your call but we need to speak more about it and get a little bit more research on our end before we can get really into depth with what the issue is here at with the egress that you're having. So if you let I'm gonna give you the number if you'll write this down and give us a call our number is 980. 2197637. 219736. And. 76377630. Cent or so lets 9802197. 637. A. Okay so and I think you can understand when you get into issues of egress and this is for everyone else too when you get a big issues and egress. You get into issues of when they drained ponds and you all the other pieces. It it has a lot of moving parts and so. I wanna make sure you get good solid advice Sandra and we're gonna make sure you do that so you call them on Monday okay. Our. Currency and thanks again have a blessed day our guys Steve what's happening. Are all about. Were shaken it today talk to me what you got around world. Flip the I've met about dry up or are we looking at the foreclosure or are still a lot of help them out there to fight cheapen or what what. They. You know Steve I'm I'm glad you asked the question. Can be. The consensus. From what I'm seeing activity wise. Is the real flipping opportunity and again it's a slow track flip. Is on houses over 400000. Believe it or not buyout. The low end flipping. Is so competitive and the margins are so thin. You have really less and less room for contingencies. I mean amber you do closings every single day all day that marketplace from zero to 300000. Is off the chain it is now. And and the opportunity for flips wholesale like all those other piece a lot of times. I'm not a fan of wholesaling and what I mean by wholesaling and somebody ties up a house and then flips the contract firm several thousand dollars to somebody else. I think that's our kind of a low form of real estate I'm not a fan of that but. You know the margins are so thin on flipping with the contingencies that you can run into. That flight it's a tough game and. Well I've I I've been what four or god is there and I think we we. Done believe. They'll want this year to three last year. And I'm not going to all the expenses. He's done pretty well what we did last year at the university also wanna warm. Good about that he had all the particularly not gotten one well they're both very very he has done fairly well on the yet found. No word on some. As captain mats will want I. And amen brother and if you can keep find in them. He shouldn't tell anybody worries get them. I don't think he has that he's done fairly well that you see it on the Rock Hill and goes up October. And he played I think it was 35 sport and I think he he failed and in other local dump. You know they'll make it about fifteen bell bottom and the guy that audit. Patent for a bit and actually make money I saw that we'll win win for everybody but it's not fair problem. I've had people ask you about these bad parts of town are going to be here be careful. All of the early in the bad part Al and there are some of them are ultimately it sold served or are. Lilly and even eighty but what I'll walk off 84 word. I love them attempted to square feet built in fifty glory. And the current market value on the album repair repair value about. 95. Yeah and see if you can if you if you know what you're doing and and you build in the contingencies it's fine but I think. To your point Steve I think that's it set itself thin market and you know it you've got to just be careful it's not like it used to be. And and now but the upper hand does have some opportunity to flipping but the more you spend the higher the restaurant. Is he thanked their seed the market where. Even maybe under under the 150. With the economy being so good he says people that are here at bat that yearly income. I ever and higher in people struggled. She the the hired a lot of people don't want that big mortgage anymore. That's really what's happening is the big houses are going out of vogue and that market has always been relatively small. We've got a lot of people that have put on hold buying a house. And act Kelly hang on we'll get right tea. Is there and they put it off and now they can't turn off any longer and with a 109 people a day coming into this market. They're just not enough houses so I'm CN those cheap houses go 203040000. Over asking price. Why and and they don't have the cash to compete so. There's just lots of pieces in gonna have to go but I think is a great questions stayed and so we always got to keep. Felt good and they were about equally split lest you get surprises that are out there are all right frantic era. Kelly we got time bring it to us how are you. Jelly. And yeah I'm about to. Quick and I are here. By about eight Atlanta home. I haven't they. Aren't. How are mutually agreed to terminate our contract and she is an option that. They hate. The option of bringing that. It. Okay. So really proud from the start I mean it this is Kelly policy in earlier it's lay away right so from the start of payment due diligence you'd be party agreed that the seller is going to be able to obtain that due diligence money. Regardless of whether you execute on the contract or not. So it's more like LA LA to just cannot hold it off the market so that they have that option. As long as it cancels during the due diligence period dot earnest money of their residency hat goes back to the bar. Yeah due diligence is watching and who wouldn't know I'm not gonna say. All cases and if you hang on we'll give you a couple of instances but if you. But if but in this particular case with the fact she's given us it goes to the so you agree anti area Giuliani well. Stay with us folks the show your real estate today we've got a heart break sorry about that Kelly on. We will pick up more review on the way back. 70457011. And the show your real estate today Amber Holt with cost her off told Jamison. Stay with us 704570. Elevenths and the show you real estate today Collison you have a realistic question. C'mon folks were here and we're here and available to take them if you got something going on with your peace a realistic that got hammered home cholesterol here. She is also available if you have a question that may have a legal twister even if you don't. It doesn't matter you gonna fix something change something induce some Clinton. Tomorrow's something tenants some done investments some then blown some then throw it to a 704. 57 room in Herrmann ten and don't be scarred. Content. Because now we know we know that if you're thinking that somebody else probably is but. Third to make sure we finished. The last caller talked a lot about the due diligence money. And you know amber that's the thing about it is is yes it is nonrefundable. But. There's a cup and an instance or so where it's not but it takes a little bit more work. Right. Yeah a little bit of its west so we've got an appraisal that none my costs are all defer for you with the we've known for you the past yes and essentially if the home doesn't appraise than the period tie and in the due diligence money candy refundable if that home. Doesn't appraise according to how we drafted that appraisal and I'm so and that. In that instance that dose. Yeah you know the interesting thing about it let's let's think about the semantics at this for a minute okay so. In general in the cold earlier was talking about. Where the prices in that lower priced right you know we put a piece of property on the market. I guess it was about three weeks ago for 139000. Dollars the kind of spirit we had eleven. Off first. And all of them were. High. Right well over our asking price encrypt okay. Spanish. Firm. At some point appraisal becomes a concern. And so. As a buyer you have an option to present that appraisal of damned them to protect your due diligence and the it was a due diligence money was also significant. Sir and meanest thing going up we've seen that in the trans lately especially here in Charlotte that's what used to be hundreds of people are paying for due diligence. It's kind of translated now on to thousands and so. Play it your thoughts on that Syria and are we gonna continue to see it continue to creep up like. Hey Matt price point because inventory is sorry for them. I mean we're seeing in Auburn 39000 dollar house human couple thousand dollars and diligence money a lot of these young couples. They got one shot right they don't have the cash. To you know do it again right absolutely if it doesn't praise you like you're you're standing there holding the bag so contrived so. Something I think. To take a look at you know what I found you know what if some things about the house lets all of a sudden the seller news that. And now the roof had a hugely connect and didn't tell anybody sir Diaz to do Dylan is money come back then so. Oh we really don't wanna look banks that senate and material defects essentially that that was not disclosed and at that point we were looking mortar breach contract and in that situation you're going to the heart of the contract negotiation what did they put in the contract that said what are the damages that the fire could seek if there wasn't it your defect that was not disclosed in that case depending on the terms of the contract absolutely due diligence funny may be coming back to them. Well you know it again. Due diligence is a strategy. Due diligence is is also an opportunity for buyer and seller to bring themselves together and have skin in the game. But but I caution. You if you're purchasing to think about or or selling don't just look at the top number. Create. Set of terms that are valuable to. Hum the seller and learned to ask this question and this is something. Amber that I do often I asked the selling agent what other than money. She's important to yourself. Can you be surprised that the B answers that I got sir so some to think about. Who we got just. We have did some tennis and yeah I was going all right because he didn't spell it right so I wasn't exactly sure. That. Sorry about that Dennis Jesse can't spell. So how you doing. I'm good well how can I serve your friend. I just wanted to tell amber hello and read her mother and I are listening to the out of them honestly probably would. Hello god we're so glad that your Willis thank you very much thanks so much Stan you've got a question you got a question Dennis that you can stumper went. The narrow. I would go and it trying to dump her okay all right so you're not gonna gimme any childhood stories or anything and I can use later I grew up and I are. Well you told the media that we're also thankful that she's listening and thanks for Colin thank you download. And and that's nice to just so happened Fatah dotted that is what I got to pay it gets its power is what I'm looking at the nice change of pace and that's right this is the first and Malaysia. Minister at 7045701110. You have a realistic question you've got a question for amber myself Collins. Worth your relative of amber you've Collison right to now family stories if you want. I don't want to name terribly spell. Yeah. Cut off. OK all right so. I wanna kind of go low become a little bit far. There amber into. Our conversation and one of the things that I wanna make sure we covered and I'm like skipper Mike whale had. For a minute because I wanna give a whatever ample time we need to do that I want him and give me a little background folks of what I'm gonna and talked to hammer down and that is. Encroachments. And other than it is in anwr or off the due diligence lay away game and we're kind of moving into the serve a game and those are typically found in older houses. We see a lot because of the shortage of inventory worst start to see a lot of older houses come on to the marketplace right and believe it or not there's a lot of my listeners out there. That have family homes that are sitting empty and finally calling Maine saying you know what this house that belonged to my mother her father. Has been sitting empty for awhile I wanna do some went. And so when they'd do a survey say they're finding. That the neighbors drive way. The neighbors bush is the neighbors didn't dance the neighbors. She did. Is actually a foot or two on their own chair. And and in order to make the sale goes through you have to have some clear. Boundaries. Share so basically similar to that appraisal London and that we talked about earlier costs are also has drafted what they have as is that encouragement and and done. And what that basically protects us is that if that driveway is a foot or two on your neighbor's property since policy talking about. That essentially as long as it is properly maintained. That they have the right to have that drive where there is in fact the driveway is not properly maintained and that had been on the cup. Let's Boyd right and what's interesting is I would say. Amber let's moves around non scientific number on it that means nothing to anybody other than me. 90% of the time. And the enjoying being Purcell has no issue with anything related to that correct they don't care. Sure I fence. Driveway whatever sheriff. It's gonna come up when it sells them right yeah yeah yeah but even when it sells. That's the key of doing a survey right correct how many times have you looked at a survey and went. Exactly. A hair. And and so it doesn't mean you can't sell a house chair. But you know is there are some type of if if the neighbors France. She's encroaching on the the property that's getting ready to sell his there's something that the new buyer can do to let the neighbor know that they know. Sure absolutely every weekend we can draft abandon them for that and then it essentially have everybody sign off on and it's a big going forward everyone's aware notices have been given. And as long as we talked about is properly maintained now though because it's against does that title insurance company chair. The talent Stearns company can sir Everett's as long as everybody's on the same page you can get the tile insurance company to essentially take a look at that in an insurer for it going forward. Right do they typically though any issues that are known like that offer you say you know we're gonna ensure everything except that. Or what if you don't do a survey does and it does that keep the title insurance from protecting you if you come up with an encroachment later. Not necessarily mean that you do because you are always. Have because the buyers are basically got to sign a survey waiver if they do waive their right to do survey. So I mean that. And not necessarily say it would be something that you have to talk to be in title insurance company about CF if. Even at the surveillance benefit assuming they're going to answer for here you know one of the things that I've done with amber and I've done a lot with Costner is let's say. The buyer decides at the last minute they wanna do a survey but it's already close to. So we'll do a survey and then I'll take that serving and I give it to you. What do you do with. Will go ahead then then I get an insurer with the talent turns companies that send it to lead and it included the title under and then we make it a part of essentially that title under. You know one of the things I came across this week two was quite uninteresting that and in this old and develop the whole reason why I came to my mind actually. To order go to break just. Protect the whole reason I came to my mindset I'm just gonna keep going over time problems with the commercials and if you don't you want some of those aren't so. The septic tank lines. Crossed under the drain field crossed under their property line into the neighbors attacked. And the neighbor refused. To sign an encroachment agreement for those streamline it. So there you have them there underground but it's still an encroachment and whether it's on top of the ground or program. I mean beautiful bright but they drew the lines and no one cared. But now this person won't sign an encroachment agreement. So it's something that was discovered well into the fact nobody needs air so. The whole septic system has to be changed in the grants have to be changed right. Some. Interesting stuff encroachments. All right the show your real estate today we're gonna go to break but. Before we do that. We wanna make sure you know that. Very early in the process. You can avoid these kind of things can chamber you can. You can contract for anything can tip you sure can't and you should do as much due diligence as you can and contact cost her law. For real estate agent as early as possible. To make sure you mitigate for those kinds of issues that you don't wanna do with the closing table absolutely not ask yourself at the beginning here and so worst place did you what does this use is close to him. Aren't they showed your real estate today I'm here with amber from Custer alarm Paul Jamison your host of the show your state today news 1110993. WBT stay with us. I'm Justin. Big business news let's us them like in the stuff. You know you need to do get off the table. That's what cook but I can't I can't I can't see that you scream so if you don't mind he's second to Jessie not me Bubba didn't feel so good when I dance on the today blow. Let's a. A sure you're real estate today hey if you're just tuning in you're wondering why in the heck are we talking about that happened so fast. The show euros that today here on news 1110 I meant three WBT I'm told Jamison Jamison realty Jamison property management and Jamison property investments. I'm rehearsed today here with Amber Holt with Costner law firm. Glad you're worse and thankful if you're tuning in then you've got a real estate question were in the final segment we love to hear from you. But we're gonna talk about some things in this segment around contracts. Around the process. And around. The deed to the general warrant you being special warranty deed so we really wanna share some information when you go there we think will be helpful and knowledgeable but. We also welcome your questions 70457. We run into that so don't be scared it's all we want you okay. And that's okay you're. Are there. Just this morning. My clients signed a bloated contract. I'm on your home and this afternoon my clients are signing a resell contract. Created by the bar association affiliated with the North Carolina real estate in fact commission. They are very different. They are indeed I mean like very different. That they are there's and there's a couple of real difference those I think sometimes people aren't aware of when they go into these contracts Thailand on me so first of their few differences and depends on who's paying light depending on whether or not it's that residential closing between a buyer and seller or a voter closing its products are does say about 99% of the contracts that scene for builders. It requires a buyer to pay the transfer tax feet to the state as well as the HUH transfer fee. And it's very confusing for a lot of buyers and agents quite frankly because they're expecting it to go like a residential. Closing wanted to Wear the seller pays those days right right so an almost ends up same lines the the paraded taxes. I just had this happened yesterday weren't agents of rule. How they get their money back on the taxes when those bills are released in September. And my answer was. They've they're signing an agreement saying that those very taxes or final so as of the closing those rates are not adjusted. And that goes back again to the contract right the builder puts that in the contract that. They are paying those pro rated taxes from the beginning of that year to date of the closing. And nine times I attend the year before those taxes were based off of raw land so there is going to be a different spare that unfortunately the buyer has. Ari contract at the same pet. Yeah and you know what's also very uninteresting and I heard this. Again this morning. We talked earlier about a Dan Adams us being able to curtail attached addendum to better protect our clients share in. The builders not another contract no. Yeah and we've also found. The inability to make any changes chair is like it is your current so. And and the language in the builder contract. Do you find it to be leaning one way or the other. Well I mean certainly one of when the donors attorney drafts that contract they're drafting yet and the lightness hero to the daughter frank so I mean it's. It's going to be in the light most favorable to their client which makes up from a contract perspective. Now so how does that compare then to the North Carolina. Well I mean honestly it when a buyer or seller is our closing any near you're essentially going and knowing that it's. Kind of neutral. Right click here you're basically it's not where one is is more beneficial to one of the others crack a lot of times and in the contracts are being drafted by attorney didn't make eager presuming the parties because longs in the closing. As long as things are natural. There's no disputes or anything like that and you know your your goods again. Brett you know it's interesting because. I think you put her really well member of the the North Carolina contract. You know it went in all its glory with due diligence and earnest money in due dates and times. It's a mutual. Contract if it has limits that are very clear to both parties. I've builder contract. On the other hand you hand and you can attach it to the North Carolina you can attach addendum to let you come agreeable like we talked about earlier that due diligence appraisal and then sir. Mean he's the builder contract on the other hand you know going through it again today. You know for example. The build time they tell you and me. He's you know six to eight months but in the contract. They have two years to build. Almost every single builder has that there's only know I mean they're all saying and you can't get in the terms and conditions although you you understand. It. It is a mutual. And I thought that was a really good way to put it because the build a contract is not there to protect the bar. It's certainly answer and I mean it's it's there to protect ban them and their assets right they're going and building a development so they're they're trying to protect those outside trying to cover their assets that's for sure. It's that is about it but the truth of that matter are so. How do you feel this speaking of contracts. You know I continue to hear rumors that you know. It's all digital digital digital digital everything on the iPad everything on the computer you're never gonna pick up a pen again everything is going to be collecting poignant. It can point. Bring your thoughts. You know I think if I had a nickel for every time an agent asked me are we gonna ever seen this project and process could digital you know I'd a Friday pretty arrest her saint. And anything out but honestly it you know I don't know that it is because there's of something to be had to be set about sitting down an attorney and having an answer your questions on the spot. As going through these very lengthy very. Time consuming documents that have been drafted. Here explain them in real time as the questions come up and and having to explain those documents what they say to. To the the buyers and if that's not. They're right if you're doing everything digitally or by doctor signed you're not having that represented Bayer that's helping you through that process. Yeah and a I think I think you hit on a real hot spot there and you know it's kind of like texting. Right. Negotiating through text. I get it I just don't do search for that exact reason. It's OK to say. You know are you home for dinner text yes. From country what time will you be home text five then but. My counteroffer is X-Men that terms this do this a week and we want to wash your dryer. You know. OK but I would I think it's better pay amber. Here are terms purer conditions. Here are some things to consider relate to XYZ. And I'll back it up with a quick email to. Sir and I mean you have very that there are implications that that. Come into validity with the statute of frauds right I mean because North Carolina. In past the country does have to be in writing yeah and I'm sorry if I tell you that is that legal if that we've we just talked. Is that a binding con is a binding now I mean you had hoped the some moments stick to their word right but that's not legally enforceable unless it's in writing. OK so. If I write a senate terms on the back of my Shoney's napkin. Is that. Mind. If you had that properly executed but I. Can't tell best barbecue saucer period I thought I. Okay yeah all added decimal point or a pepper and that's opener. There. You know something though. Amber edited and it's so funny because I always say you know I was doing deals when you write him out on a napkin. And everybody signed a chair and there was definitely executables. Sir. And and I think the real point that I want people here and Amber's pointing that out is. Do you know it's got to be in writing. It's got to be enforceable. That's good stuff like amber thanks for being with us today. Thank you Paul I really appreciate it what followed I did do this and I enjoyed the dance visit Jesse Jesse and I just got the mothers or young enough. Well thanks for bail what is today. If you. Listen for the first time we thank you if you're long time listener we also thank you. Amber with caution or law you can call them at nine aid though. It is not an 802197637. And you can always get me 846 dot 8463663. Jamison realty Davis and her.