There obviously is no easy solution. You’re position seems to add complexity and cost. We’ll have to just agree to disagree on this one.

As with most things, there needs to be a balence. You could make a strong argument that most people would require a lawyer to explain their credit card agreement, when the majority don’t even read it at all. Maybe we’ll just mandate required lawyer representation for all types of purchases/agreements.

That said, I think we can all agree that form contracts will not cover everybody’s unique situation. Specific terms will often be necessary. The MLS recognizes this with the Form 34, the blank addendum that is used to draft unique contract language. Thus, even with form contracts, many transactions will require the drafting and acceptance of unique contract terms.

I’m simply saying make the process buying/selling process more transparent and regulated, limiting the need for all the middlemen with their various profit motives.

Reminds me of the old story about an Attorney that was struggling with his business in a small town in the mid-west. Down to his last few dollars and ready to quit another Attorney opened shop across town and they both prospered.

Like Ardell says, leave the standard contracts behind and go with an Attorney crafted contract, would require the other side to hire an attorney to review the first attorneys work. In a world where one tiny word can make tip the balance of advantage from one party to the next, both need to be fully represented.

Standard contracts have been time tested in “real life” and Court and reflect a mutual understanding of those professionals involved.

Your assumption is that all Seller’s and listing agents will be completely honest in their disclosure to you. Sometimes that happens, many times it does not. In California 90% of real estate lawsuits have to do with non-disclosure.

Thus is the logic for a reasonable period of time for a buyer to perform his due diligence and determine that the property is acceptable – this works in the real world and gives everyone the opportunity to move through the process.

One other comment: I am unclear on why you think seller’s should pay for listing AND selling/buyer’s agents. If you want “buyer protection,” then shouldn’t the buyer pay for representation so that the loyalty to the buyer is clear?

As for “it seems like you don’t care”: I think the same can be said of any service provider. Hey, your doctor gets paid for the visit, even if she doesn’t cure your problem. Does that mean the doctor does not care? Certainly not — or if you believe otherwise, then you must lead a tortured existence, having to pay people for services when they really don’t give a hoot about you.

If I could start over, I would actually envision a system that listing and selling agents are hired by sellers to get the best price for their clients. The fees are negociated by them in a competitive marketplace. They work hard to market the property for the seller.

As a buyer, I would have the opportunity to shop the properties being marketed. I wouldn’t need to have a “buyer’s” agent or lawyer. I would be aware of the known issues or sellers disclosure prior to making the offer. I would then be required to be be approved on financing prior to the offer. Then I could make an offer, subject of course to title, inspections for unknown problems etc. Strong government laws/regulations would dictate the sales agreement in a transparent, standard way in plain language.

As it appears to be now, I make an much more tentative offer based on more contingencies and earnest money that often make it a large waste of everyone’s time.