If your firm uses MAR's forms for your real estate transactions, for your clients' protection and yours, be sure to use the latest versions of the forms which launched Monday, January 13.
In addition to revisions to some of the forms, two new forms were added to the Forms Library.
Synopsis of changes:
F1: Contract for the Sale and Purchase of Real Estate and F2: Contract for the Sale and Purchase of Real Estate Lots and Land received significant changes related to Earnest Money and a new section for Breach of Contract.
F1: Contract for the Sale and Purchase of Real Estate, F2: Contract for the Sale and Purchase of Real Estate Lots and Land, F4: Exclusive Authorization and Right to Sell Listing Agreement, F5: Agreement to Show Unlisted Property, and F27: Property Issues Disclosure received new sections related to Audio & Video including Photography.
F6: Back-up Agreement Contingency received a new name: F6: Back-Up Contract Addendum.
F15: First Right of Refusal Addendum and F19: Declaration of Acceptance received other amendments.
Two new forms added to the library are:
F41: Fair Housing Form
F28: Alternative Dispute Resolution Agreement
The eight updated forms and two new forms will show a revision date of 12/2019 at the bottom.
For an exact list of all changes, please review MAR's Summary of Changes.