For each transaction, a number of contracts and agreements are governed by the rights, obligations and commitments of the parties. As part of the residential purchase/sale transaction in California, the most frequently used contracts are the CALIFORNIA Association of Realtors (CAR). These contracts involve a number of situations, including conventional sales, home equity transactions and seller-financed transactions, to name a few. You deal with situations where sellers leasebacks, the buyer in possession, options, and almost any other issue you can imagine that can reasonably appear in a transaction. We talked about parts of the agreement, such as. B the question of whether the arbitration decision should be initiated. We discussed specific performance measures if the seller does not comply with the agreement. We discussed confidentiality actions at length. But we never put together a series on housing contracts because. The objective of this series will be to examine both the parties to a transaction and the agent in the main CAR housing contracts, including the home purchase agreement (« RPA »), disclosure of the real estate agency, Buyer`s Inspection Advisory, disclosure documents (TDS/SPQ/AVID) and communications (Notice to Perform or Demand to Close Escrow) and how they cooperate to document and document a private transaction. Some of these documents are prescribed by law (for example.
B the SDS) and carry large debts if they are not completed. Others, such as recommendations. B, are good business practices and disclosures for parties to a transaction. These agreements have been widely used in California and cover a large number of scenarios and are designed to cover and cover many different scenarios that can occur during a transaction. The most common housing contracts used in California for a transaction are those established by the California Association of Realtors. Today, we are launching a series written by the lawyers here at BPE Law, who unpack these contracts and give the parties and their agents a background in these agreements and what they mean. Who must participate: all REALTOR® in the State of California who participate in the sales contract. Every year, we work with hundreds of individuals, including investors, buyers, sellers and real estate professionals. This work focuses on how real estate contracts influence everything from a certain action in terms of performance and confidentiality to the impact on a serious money deposit, to the relationship between the buyer and the seller or client and the broker.