Your Appraisal Woes… Solved?

PAR already has an Appraisal Contingency Addendum to the Agreement of Sale (Form ACA), which allows a buyer to terminate the agreement if the appraisal doesn’t hit a specified value. But member feedback indicates that parties are often trying to write in stronger language to keep buyers in the deal. This new revision addresses that issue by expanding the form with a second buyer option.

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Battle of the Forms: ACA vs. LTV

Often, the loan-to-value ratio and the Appraisal Contingency Addendum are seen as being the same thing and at their basic level, they do the same thing. However, they are not the same and more importantly, as they are built into the PAR forms, they function very differently.

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Agreement of Sale to be Updated July 1

Beginning July 1, all of the agreements should have the following elements to them, where applicable: fixtures and personal property, inspection limitations and reports and the Internet of Things and recordings.

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Inspection Contingency Review

The inspection contingency in the Standard Agreement for the Sale of Real Estate (PAR Form ASR) is one of the most frequent topics for the PAR legal hotline. The election, performance and ensuing negotiations make up a procedure that – it seems – has become so commonplace that many licensees don’t know what to do […]

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