Special Stipulations are specific instruction written into a contract that are unique to this buyer and seller and are in addition to the standard contract form. A Special Stipulation controls if it conflicts with any preceding exhibit, addendum or paragraph.
Special Stipulations aren’t hard to write. Here’s the nutshell: Include who, what, when, and result.
The devil is in the details. The what needs to be clear and specific. It may include several points of information. For example, the cost and who pays (warranty). The type of termite bond (repair or retreat?) The result or consequence of not doing the what (right to terminate or the right to extend or the right to renegotiate).
When you are writing your stipulation, review to be sure you’ve included the 4 core sections: Who, what , when and result. Then make sure you’ve supplied the necessary details.
Let’s look at a few common stips as examples of who, what, when and result:
We are fortunate in Georgia to have an extensive set of Forms, Exhibits and Special Stipulations written and vetted by the Georgia Association of Realtors. Next week the Broker Corner will explore specific exhibits and special stips that protect your clients and protect you, too!
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