July 15th, 2024 at 1:54 pm
Multiple Choice Question: You are the buyer’s agent helping your client write a new offer. Your client is buying a property to effectuate a 1031 tax-deferred exchange. What form or forms do you use to address the 1031 exchange? Pick the best answer:
A. C.A.R.’s Contingency for Sale of Buyer’s Property (COP).
B. C.A.R.’s Buyer’s Intent to Exchange Addendum (BXA).
C. Both A and B.
D. Either A or B. (more…)
July 8th, 2024 at 1:39 pm
While you are planning for your Open Houses this summer, keep a watchful eye over safety issues too. Here are some Open House safety tips to consider: (more…)
July 1st, 2024 at 4:03 pm
When NAR’s Settlement Agreement goes into effect, buyers’ agents who are MLS participants will be required to enter into a written agreement with their buyer-clients, before touring a home. This change is expected to go into effect on August 17, 2024.
However, even before the change takes place, you are, as a buyer’s agent, well-advised to go ahead and use buyer-broker agreements for your buyer-clients. C.A.R.’s current Buyer Representation and Broker Compensation Agreement (BRBC) was revised in December 2022. C.A.R. has delayed for now the release of its proposed June 2024 revisions that was previously slated to go into effect on June 25, 2024.
Here are 5 good reasons to use BRBCs before NAR’s Settlement Agreement goes into effect in mid-August: (more…)
June 24th, 2024 at 1:12 pm
During the week of June 24, 2024, C.A.R. plans to roll out its June Standard Forms Release. Their rollout includes roughly 50 new and newly revised forms. However, C.A.R. has decided to delay for now the release of 21 additional forms related to the recent NAR Settlement Agreement.
Here are some of the highlights of C.A.R.’s June 2024 Forms Release: (more…)
June 17th, 2024 at 1:20 pm
C.A.R. will be rolling out its Standard Forms Release the week of June 24, 2024, including some changes to the Residential Purchase Agreement (RPA). Probably the most significant RPA change is the new stand-alone “insurance contingency” under paragraph 3L(4). Similar to the other buyer contingencies, the new insurance contingency defaults to 17 days after acceptance, unless another number of days is inserted in the blank space provided. (more…)
