California Association of REALTORS To Release New And Revised FormsWritten By: Bob Hunt
Twice a year, in June and December, the California Association of REALTORS CAR >
Three new forms will be >As its title indicates, the SBSA is an advisory given to both buyers and sellers, though its provisions are generally more >A significant improvement is that the new SBSA will be divided into categories. The earlier and present versions were pretty much a hodgepodge, making it somewhat difficult for most people to locate quickly any particular section among its twelve single-spaced pages. By presenting a table that shows how the topics are arranged within various categories will make it considerably easier to find ones way around the advisory.
Seven general categories are presented. They are: A. Investigation of Physical Condition; B. Property Use and Ownership; C. Off-Site and Neighborhood Conditions; D. Legal Requirements Federal, State, and Local; E. Contract >There are, of course, a number of specific revisions and additions that have also been made to the SBSA. These include:
1. There is new language on page one informing the parties that different reports may not be consistent with one another and that brokers have not verified the information in the reports.
2. There is new language regarding hiring proper professionals if square footage and boundaries are material to the buyer.
3. A new paragraph addresses Accessory Dwelling Units.
4. A new paragraph addresses the Buyers Intended Use of the property.
5. Additional language has been added to the section regarding marijuana use and California law.
6. There is a new paragraph regarding short-term rentals and the possibility of local restrictions on short-term rentals.
7. Added to the current very long paragraph addressing "Neighborhood, Area, Personal Factors, Buyer Intended Use, High Speed Rails, and Smoking Restrictions" is some language and references regarding drones.
8. To a section on advertising new language has been added regarding staging and explaining that some furnishings and decorations may not be included in the sale.
More generally, it is highly beneficial that a number of web sites have been added that will provide helpful reference material.
Copyright© 2018 Realty Times®. All Rights Reserved
Phone: (786) 462-3488 | Fax: (305) 397-2177 | info@globalFinancingServices.com