Standard Agreement for the Sale of New Construction

A revision to the mortgage contingency of the PAR Agreement of Sale (Form ASR) will be released on Sept. 1, 2025. The main substantive change is simply to add a third choice for the buyer to use when signaling their intent on financing to a seller.

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.