Change in Terms Addendum to Agreement of Sale

Closing is scheduled for tomorrow morning and everyone is excited to finalize the deal. You suddenly get a frantic call from your seller who explains they were about to leave the house with the last few boxes when a torrential downpour blew through the area and they now have an inch of standing water in the basement. Now what do you do about the closing in the morning?

The Supreme Court’s decision means landlords are now able to evict tenants based on non-payment of rent, unless there is a local eviction moratorium in place. Landlords should consult with an attorney to determine any local restrictions on evictions.

Forty-two percent of real estate professionals said that COVID-19 is still impacting their business.

Real estate licensees currently are able to complete continuing education credits through livestream learning methods under waivers first issued by the Department of State during the pandemic and extended by the General Assembly in June. This latest waiver extension is set to expire on Sept. 30.

The new eviction moratorium is targeted to counties “experiencing substantial or high levels of community transmission levels” of COVID-19.

Agents understand the importance of obtaining certificates of resale limit the buyer’s opportunity to terminate, and thus the emphasis has been on obtaining and delivering the appropriate documents. Many, however, fail to appreciate the reason behind the law’s requirement.