About the Standard Agreement for the Sale of Vacant Land
The Standard Agreement for the Sale of Vacant Land (Form ASVL) is the contract for the sale of unimproved real estate containing commonly used clauses and the legal requirements for sales contracts in transactions involving real estate licensees.
The standard agreement specifies details of the property including purchase price, buyer’s responsibilities and much more. The terms of the agreement can be altered to fit the parties’ unique transaction by using the library of addenda that have been specifically written to coordinate with the standard contract.
Latest Content
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Mortgage Contingency Update Coming Sept. 1
- August 22, 2025
- 7 min. read
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.
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Agreement of Sale to be Updated July 1
- June 19, 2020
- 3 min. read
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.
