C.A.R released the following new forms in December 2016
- ACS: Agent Commission Sharing Agreement. This form is used to document the relationship between two licensees who are working together. It covers topics such as scope of agreement, commission, splits, pre-existing clients, and termination. It can be used if both agents are in the same or different brokerage companies.
- BEO: Buyer Early Occupancy Addendum. This – 2 page form creates contractual language for when a buyer moves into seller’s property prior to COE for less than 30 days. A long form that mirrors the Residential lease already exists for either long term or short term buyer early occupancy. This already existing form is the Interim Occupancy Agreement, CAR for IOA.
- CLCA: Commercial Lease Construction Accessibility. This is an addendum to the Commercial lease addressing accessibility standards.
- RCSL–LL: Representative Capacity Signature Disclosure (For Landlord Representatives). This form accommodates signatures when a landlord is an entity.
- RCSD–T: Representative Capacity Signature Disclosure (For Tenant Representatives). This form accommodates signatures when a tenant is an entity.
- SUM-RPA: Summary of RPA. This form summarizes, in chart form, many of the significant deal points in the RPA.
- SUM-MO: Summary of Multiple Offers. This form summarizes the same items in the SUM-RPA but allows for a side-by-side comparison of these deal points for up to so many multiple offers.
- WCMD: Water-Conserving Plumbing Fixtures and Carbon Monoxide Detector Notice. This form modifies existing Carbon Monoxide Detector Notice to add language about water conserving plumbing devices. It identifies the compliance and disclosure requirements of the law and State law standards to assess if plumbing fixtures are ‘non-compliant”.
Revised Forms – there were 6 revised forms in the December 2016 release.
- ESD: Exempt Seller Disclosure
- SPQ: Seller Property Questionnaire. Both of these forms are being updated to include questions and statutory language concerning water conserving plumbing devices. Starting January 1, 2017, California law requires owners of single family residential properties built prior to 1994 to replace non-compliant plumbing devices (such as toilets and shower heads) with water conserving plumbing devices. For other properties, such as condo’s, multi-family & commercial, sellers do not have to meet the replacement requirement until January 1 2019.
- OA: Option Agreement. Language was added to the form about lease remaining in effect even if the option is not exercised.
- PCQ: Notice to Perform Covenant (CURE) or Quit
- PRQ: Notice to pay Rent or Quit. Language was added to these forms to identify a specific individual to whom the rent payment is supposed to be delivered, especially if that person is different from the person to whom the rent payment is made out to.
- SIP: Seller License to Remain in Possession Addendum. The revision to this form specifies that the Buyer is granting the seller a license to remain in possession rather than a tenancy. – Anna Cooper, Director
Monthly Membership Breakfast
Welcome Members and Affiliates to our Monthly Membership Breakfast!! We are excited to announce The Lake Arrowhead Resort will be our location for this year’s breakfast. Please join us at 9:00 AM, the second Wednesday of every month, for some good food, updates on our communities, speakers, etc. We will have something new every month, including a raffle and very cool prizes!! We look forward to seeing you all there!!
Dates To Remember For
For April 2017
Board of Directors meeting is Wednesday April 19th @ 9:00 AM
Follow the link to sign up for N.A.R’s Code Of Ethics training https://www.nar.realtor/code-of-ethics/training
For any REALTORS needing to renew their licenses, C.A.R. is offering 45 hours of free continuing education courses. To get started, click on the link provided today! http://www.car.org/education/licenserenewal/ C.A.R. is also offering many webinar courses to fit your busy schedule. To see what is available, click on the link provided to get started! http://www.car.org/education/calendar/
Just A Reminder, in 6 to 8 weeks we will changing our MLS system.