GET READY FOR MO' IN 2005!
MO' disclosures! MO' disclaimers! MO' PAPERWORK! C.A.R. was very busy this year revising, renaming and creating contracts and supplements to the contracts and disclosures to give the real estate Agent MO' protection in the transaction. All updated forms are available in WinForms. Forms are the tools of your trade. If you are an MLS member only, a yearly subscription to Winforms is well worth the modest investment. The WinForm list is complete, always up to date and at your fingertips.

It is important for you be current with the changes in real estate forms. Check Winforms and the C.AR.web site: www.car.org regularly for updates. We strongly urge you to print and study ALL the new forms so that you can explain them glibly to your clients before you have them "sign here, sign here and sign here". Also, check with your local Board of Realtors to get the schedule of legal seminars that review the reasons for and the impact of new forms.

It took a while to sift through all the new forms in order to distinguish which forms belong to the contract that the Agent must care of and which belong to the disclosure package that REMERGE will take care of. REMERGE can step in to get signatures on some forms, such as the BMI and MCA (see below) if the Agent misses them. However, it is a more professional practice for the Agent to personally explain Broker disclosures and disclaimers to the client.

THE LISTING TRANSACTION
The Listing Agreements have undergone a name change! Start using 10/04 versions now!

MANDATORY
1. AD: Disclosure of Real Estate Agency Relationship ................................. REVISED 10/04
2. RLA: Residential Listing Agreement - Exclusive .................................. RENAMED 10/04
or *RLAA - Residential Listing Agreement - Agency .......................... RENAMED 10/04
or *RLAN - Residential Listing Agreement -Open ............................. RENAMED 10/04
3. SA: Seller's Advisory
If Applicable
SEL - Sellers Instruction to Exclude Listing from MLS ................................ NEW 10/04
Any permits, invoices etc. that the Seller provides

THE SALE TRANSACTION
Optional: Buyer Broker Agreement. Select the appropriate form for your transaction.
The all-purpose Buyer Broker Agreement is now in 3 separate versions.
BBE - Buyer Broker Agreement - Exclusive (Right to Represent)...................... NEW 10/04
BBNE - Buyer Broker Agreement - Non-Exclusive ...................................... NEW 10/04
BBNN - Buyer Broker Agreement - Non-Exclusive/Not for Compensation........... NEW 10/04

MANDATORY
Notice that more than half the forms on this list have been changed in some way!
1. AD: Disclosure of Real Estate Agency Relationship .................................... REVISED 10/04
2. RPA-CA : Residential Purchase Agreement
3. BIA: Buyer's Inspection Advisory
If Applicable
COP: Contingency for Purchase or Sale of Other Property, if applicable
IOA: Interim Occupancy Agreement, if applicable ................................ REVISED 10/04
RLA: Residential Lease After Sale .................................................. REVISED 10/04
4. Counter Offer(s), if any .................................................................... REVISED 10/04
NOT MANDATORY BUT STRONGLY RECOMMENDED
These forms clarify the instructions of the final agreement.
5. WPA: Wood Destroying Pest Inspection and Allocation of Costs ...................... USE IT!
6. RDN: Receipt and Delivery of Notices to Perform: Use as an Addendum to Purchase Agreement.
7. CC: Cancellation of Contract: Agree ahead on what happens to the money IF escrow cancels.
These two new forms are Broker/Agent disclaimers.
8. MBI: Buyer Material Issues ............................................................... NEW 10/04
9. MCA: Market Conditions Advisory ...................................................... NEW 10/04

WHILE YOU ARE AT IT, CONFIRM YOUR COMMI$$ION!
10. CBC: Cooperating Broker Commi$$ion Agreement

NEW AND UPDATED DISCLOSURES - REMERGE IS ON IT!
The REMERGE Transaction Coordinators Basic Seller's Disclosure Package (SDP) has been updated for 2005. Local disclosures and/or office addendum as required are added to the SDP for a custom set. That's why you hired us, isn't it?

In additions to requesting the new Broker disclosures, the following forms are now part of the REMERGE Basic SDP. For the complete REMERGE 2005 Transaction Checklist, Click: "At A Glance" in the Sample File.
BSA - Statewide Seller's and Buyer's Advisory - 8 pages ......................... ....... NEW 10/04
SSD - Supplementary Statutory and Contractual Disclosure - 1 page .......... ..... REVISED 10/04

REMEMBER TO FILL IN FORMS, COMPLETELY!
Nothing inspires confidence more than a well-supported, fully executed contract. You'll be very happy with yourself when you see Buyer and Seller signatures at the bottom of every contract page. But, WAIT! Did you review the contract and supporting documents to ensure that each form was filled in completely before you gave it to your client to sign and before you submitted it to the Seller's Agent? Once a form is signed, only an escrow amendment can change it, assuming Buyer and Seller agree to a change.

COLD CASE FILE
The Buyer's Agent checked the box in the purchase agreement that says a WPA addendum is attached. The Buyer's Agent indeed attached a WPA signed by the Buyer. The Seller's Agent had the Seller sign it too. The purchase agreement designated that the Seller would pay for the termite inspection. Neither the Buyer's Agent nor the Seller's Agent noticed that the WPA, although signed, was otherwise blank. It did not designate who would pay for Section 1 repairs and who would pay for Section 2 repairs. The estimate for Section 1 repair and the termite completion was $850.

POP QUIZ
Who paid for the termite repair work?

WHAT IF …
the termite repair estimate was $20,000?

DOING REAL ESTATE "The REMERGE Way"!
Planning to get away this holiday season? REMERGE has your back! Register your Listing, Listing/Sold or New Sale on www.remerge.com , submit the contract documents by e-mail or fax and Go! You can relax because you just set the REMERGE Transaction Coordinators process in motion! Check your files from any Internet-connected computer, from anywhere on the planet … if you feel like it!