Newer, Smarter Forms Debuting Jan. 1
Several forms will be updated as of Jan. 1 to address issues related to smart home technology. Here’s what you need to know.
Read More
Drafting Legal Documents
Anticipate the unanticipated and prepare an agreement that offers guidance.
Read More
Do I Really Need to Disclose That?
Remember that more disclosure is usually better than less disclosure, and that disclosing items during a transaction is likely to be less risky (and far less expensive) than explaining the lack of disclosure in a deposition after the transaction.
Read More
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 […]
Read MoreSubscribe To JustListed Daily Emails
Revised Agreement of Sale debuting July 1
The only substantive change to its content is in Paragraph 8(I), which relates to FHA and VA financing.
Read More
Summer forms update
Summer will bring one small change to the Agreement of Sale and more work for task forces.
Read More
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.
Read More
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.
Read More
Exercise due diligence early
The revised Agreement for the Sale of Real Estate (Form ASR) published by the Pennsylvania Association of Realtors® includes a new requirement that buyers order a title report from a reputable title company within so many days of execution. The provision, vetted for a least a year and approved by PAR’s Standard Forms Committee, is intended to address a range of frequently recurring problems in residential transactions.
Read More
Revised Agreement of Sale available
Revisions to PAR’s Agreement of Sale were approved by the Standard Forms Committee in the fall for publication on Jan. 1. The revised form is available now on PAR’s website, along with updated Guidelines for Preparation & Use.
Read More