By now I am sure you are aware of the updated CAR forms. Here is a quick summary of the new forms and old forms changed.
3 New CAR Forms
BHAA- Buyer Homeowner Association Advisory
The form is information for the buyer about properties that are in an HOA.
DIA- Disclosure Information Advisory
The form discusses filling out and reading property disclsoures.
TFHD- Tenant Flood Hazard Disclosure
The form is legally required as of July 1, 2018 and the landlord or real estate agent must disclose flood hazards information to the prospective tenant.
8 Forms Updated:
Statewide Seller and Buyer Advisory (SBSA) is now 14 pages long
Seller Property Questionnaire (SPQ) - Explains question about lead based paint and for made condo questions "if applicable"
Lease Listing Agreement (LL)- Restructured commission layout, breaks down water conserving fixture disclosure
Lease/Rental Commission Agreement (LCA) allows the tenant to make separate checks for commission to agents, broker, landlord, etc
Cancellation of Listing (COL) clarification on broker compensation upon cancellation
Application for Rent (LRA) Service animals aren't pets. Two options for paying screening fees.
Residential Lease Agreement (LR) Tenant responsible for light bulbs
Residential Lease After Sale (RLAS) If tenant decides to move out, they don't need to give landlord notice to move out. Tenants are reminded to have renters insurance. Adds flood insurance and bed bug disclosure.
And there you have it. All these forms went into effect on June 25th. Let me know if you have any questions regarding the above forms or any other forms. I am here to help.
3 New CAR Forms
BHAA- Buyer Homeowner Association Advisory
The form is information for the buyer about properties that are in an HOA.
DIA- Disclosure Information Advisory
The form discusses filling out and reading property disclsoures.
TFHD- Tenant Flood Hazard Disclosure
The form is legally required as of July 1, 2018 and the landlord or real estate agent must disclose flood hazards information to the prospective tenant.
8 Forms Updated:
Statewide Seller and Buyer Advisory (SBSA) is now 14 pages long
Seller Property Questionnaire (SPQ) - Explains question about lead based paint and for made condo questions "if applicable"
Lease Listing Agreement (LL)- Restructured commission layout, breaks down water conserving fixture disclosure
Lease/Rental Commission Agreement (LCA) allows the tenant to make separate checks for commission to agents, broker, landlord, etc
Cancellation of Listing (COL) clarification on broker compensation upon cancellation
Application for Rent (LRA) Service animals aren't pets. Two options for paying screening fees.
Residential Lease Agreement (LR) Tenant responsible for light bulbs
Residential Lease After Sale (RLAS) If tenant decides to move out, they don't need to give landlord notice to move out. Tenants are reminded to have renters insurance. Adds flood insurance and bed bug disclosure.
And there you have it. All these forms went into effect on June 25th. Let me know if you have any questions regarding the above forms or any other forms. I am here to help.