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All sales of printed standard forms will end by July 1, 2012 as a result of a year-long review of print and electronic forms. Business Services for Real Estate (BSRE) Board of Directors announced the changes at the PAR Business Meetings on January 26.
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The span between the seller’s rejection of buyer’s corrective proposal and buyer’s election to terminate the Agreement is always two days and is never extended by virtue of an early response from seller. Hence, we can never say that, the process invariably takes 17 days to complete.
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I’m currently defending a broker and her salesperson in a failure-to-disclose lawsuit. My client -- a buyers’ agent -- has been accused of failing to tell her clients that mold is not an unusual environmental condition and that they have a right to test for its presence.
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Legal Hotline callers want to know whether licensees have a duty to determine the presence of Megan’s Law registrants and whether the answer changes depending on the status of the licensee as a buyer’s or seller’s agent.
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PAR has translated many of its forms, including the new Agreement of Sale (ASR) into Spanish for REALTORS® to use as a reference when working with Spanish-speaking clients. These reference copies may not be used in transactions but can be used to allow Spanish-speaking clients to read the forms in their language.
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New EPA rules require contractors doing home repairs on homes built prior to 1978 to take specific training in lead paint-safe practices as of April 22, according to Dale Kemery, spokesperson for the U.S. Environmental Protection Agency (EPA).
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PAR staff has recently seen an increase in the number of questions regarding the handling of deposit monies. Let’s look at some of the common myths about deposits and set them straight.
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Electronic vendors have started to post the e-forms and all vendors are expected to have the new form online by March 1. The previous ASR is still acceptable to use for transactions.
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The new PAR Standard Agreement for the Sale of Real Estate (ASR) is set for release in mid-to-late January. Print forms are now available for preorder and the electronic version will be available from the electronic form vendors around January 15.
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Thursday, Feb. 9, 2012
