New and Revised California Forms are in the Works


Real Estate News

New and Revised California Forms are in the Works


Written By: Bob Hunt
Sunday, October 14, 2018

In the scheduled >

1. Pre-Occupancy Storage Addendum. This form addresses a situation that has been around for years. The house in escrow may be substantially or completely vacant. The buyer is already or about to be out of his previous accommodation. Comes the request: ldquo;May we store an amount of our belongings in your now-empty garage or some other parts of the property? If the answer is lsquo;yesrsquo;, the new form provides a way of spelling it out.

bull; It lists a period of time for the storage, and provides for a time extension if there is mutual agreement.
bull; It provides for monetary consideration.
bull; It specifies the areas where items may be stored.
bull; It specifies that the buyerrsquo;s property is not insured by the seller.
bull; And, perhaps most importantly, it spells out in bold print that the brokers do not recommend this, and that the parties should seek advice from legal counsel.

2. Summary of Offer This form borrows from the well-received recent form that allows for comparisons of offers. On one page, in a simple and clear format, the salient terms of an offer may be conveniently summarized. It is clear on the form that this is a summary; it is not the offer itself.

3. Seller Common Interest and Homeowners Association HOA Questionnaire. This is something like the now-familiar Seller Property Questionnaire, except that its questions are confined to items >In its current draft form, this questionnaire is four pages in length. It will not be something that most sellers could just breeze through. And itrsquo;s certainly not something that the agent should volunteer to do.

California Realtorsreg; can take a look at these draft forms on the CAR website. Comments and suggestions will be taken until 12 pm, Thursday, October 11. Questions may be directed to Cecilia Matias, REBS Real Estate Business Services Coordinator, at .



Copyright© 2018 Realty Times®. All Rights Reserved

 

Miami Dade Seller Services, Selling Your Home | The Reznik Group
Miami Property Search
Search in Spanish
Search in French
Search in German
Search in Italian
Search in Portuguese
Search in Russian
Search in Chinese
Facebook Twitter Linkedin Active Rain Instagram
Search by Map Miami Dade Seller Services Visit Our Mobile Website Sunny Isles Beach Penthouses

Bookmark this Site Client Login | The Reznik Group
Updated: Sunday, October 21, 2018

Renovating With Your Kids: Pro...
But there are several tasks they can do with supervision, and a few they might be able to ha...

The Race to Build Canadas Best...
The race to build the best real estate listing website in Canada is now entering the final l...

Architectural Control Committe...
Our declaration of covenants requires advance approval before any such changes or additions ...

Eye on Nashville: Why Music Ci...
ldquo;Nashvilles real-estate market bounded ahead of Seattle, Los Angeles, and other major m...

Are You Torturing Your Trees?...
Whether you inherited trees when you bought your current real estate or yoursquo;ve planted ...

Copyright ©2018 - Realty Times®
All Rights Reserved.

View All News
Ritz-Carlton Residences Condominium Construction Update September 2018
The Reznik Group is proud to feature the currently under construction Ritz-Carlton Residences...

Turnberry Ocean Club Construction Update - September 2018
The Reznik Group Miami Luxury Realtors is proud to feature the currently under construction...

View All Blog News