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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Clean Slate Law helps secure housing

Pennsylvania recently began automatically sealing certain criminal records from public view. Act 56 of 2018, called the Clean Slate Law, seeks to alleviate hardships that can come as a result of having a criminal record; a criminal record is often an impediment to finding housing and employment, which makes rehabilitation difficult.

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Seller Disclosure overhaul

Recently, several member volunteers met at PAR headquarters to review common questions and figure out if PAR’s seller’s property disclosure statement needs a remake. A task force led by Pat Moyer of the Suburban West Realtors® Association has begun working its way through the form, while trying to strike a balance between information a seller should disclose and a buyer’s obligation to perform due diligence.

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Smart homes and smarter forms

A task force led by Bill Lublin of the Bucks County Association of Realtors® has identified four key issues PAR’s forms should address: notification to buyers and sellers of video and audio surveillance, data privacy and security issues, contractual obligations on energy-efficient equipment and passively-collected data.

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