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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New and Improved Seller’s Property Disclosure Statement
Although it may seem at first glance that there are many changes to the form, most of the new language you’ll see is a clarification of current questions and not the addition of new ones.
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Code Violation or Petty Annoyance?
There are many petty annoyances that are not the height of professionalism, but probably don’t rise to the level of a code violation.
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Debt Collectors Permitted New Means of Communication
On Oct. 30, the Consumer Financial Protection Bureau issued a final rule which permits debt collectors to use text messages, email, social media and voice messages for communications with debtors.
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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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What Is Your Brokerage COVID-19 Plan?
Failing to properly handle a case of potential exposure of COVID-19 not only puts many other people at risk of infection but could jeopardize your career.
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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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Real Estate Best Practices Still Incorporate COVID-19 Forms
Recently revised to conform to guidance for real estate, use of the COVID-19 Property Access Notice (Form COVID-PAN) and the COVID-19 Health and Safety Acknowledgment (Form COVID-HSA) still have a place in your routine, even as restrictions loosen.
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Newer, Smarter Forms Debuting Jan. 1
Several forms will be updated as of Jan. 1 to address issues related to smart home technology. Here’s what you need to know.
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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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