Thursday, February 25, 2010

The New 2010 Home Purchase Contract

They are at it AGAIN! Those California Assoc. of Realtors (CAR) Lawyers are tireless!

The contract to make an offer to purchase a home just went through another round of modifications. We can't believe it but they managed to add stuff without actually making the contract any longer....HURRAY!

Actually, we kind of like some of these changes and feel that they really help to clarify some of the terms of the contract and will better keep unethical folks from being able to offer on a property under the false pretenses of one type of financing and then dubiously switch to a less desirable (from sellers point of view) type later.

We think this may have a profound effect on some earnest money deposits in the future. Hopefully it is a deterrent but only time will tell. To read the new RPA in its entirety click on the picture-------->>>

or go here: