Here’s What You Need to Know About Upcoming Standard Forms Changes
On July 1, there will be 12 updated forms going live and one brand new form. While the number of forms can look overwhelming, it is really only a few different categories. This release is all about clarification, clarification, clarification. The actual function of a majority of the forms are not changing.
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Updated Listing Contracts Coming July 1
PAR’s three listing agreements – for commercial, residential rental and residential sale – are getting some minor updates on July 1.
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Updated Pennsylvania Sales Agreements Coming July 1
All five of PAR’s standard sales contracts – commercial, manufactured housing, new construction, residential and vacant land – will be updated as of July 1.
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Changes to the PAR Appraisal Contingency Addendum Coming July 1
The changes in the new Appraisal Contingency Addendum do not change how it currently functions, we have just worked to create more clarity.
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One Size Fits Most
Before you use any of PAR’s standard forms, ask yourself: Is this the proper use of this form?
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…and I Want a Pony
It seems that many buyers, sellers, brokers and agents seem to believe that merely asking (or demanding) for something to happen just magically speaks it into existence and they are entitled to get whatever they want.
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Who Writes These Things, Anyway?
If being part of the production process of standard forms interests you, there are two task forces currently looking for more volunteers.
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PAR Releases New Commercial Property Management Form
A new PAR Commercial Property Management Agreement (Form CPMA) became available to members on July 1.
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Best of the Legal Hotline: Frequently Asked Questions on Four Standard Forms
PAR’s Legal Hotline attorneys held a webinar yesterday discussing frequently asked questions on standard forms, specifically, Seller’s Property Disclosure, Appraisal Contingency Addendum, Price Escalation Addendum and COVID-19 Property Access Notice.
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Best of the Hotline: Price Escalation Addendum
The Price Escalation Addendum (Form PEA) is one of the most misunderstood in the PAR forms library. You should review PAR’s guidelines for the form before using it, but let’s review a couple of the most common questions/complaints/misconceptions that we hear on the PAR Legal Hotline.
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