The Contracts and Forms Committee, chaired by Mark McIlquham, met on March 21st to review some requested updates to our Purchase and Sale Agreement. They have not yet completed that review and will be meeting again in the next few weeks. If you have any suggestions / requests for changes to this document, please email Sandy as soon as possible so we an ensure all requests are looked at prior to completing edits to it.
The committee would also like to make you aware of two Massachusetts Association of REALTORS produced forms that you may want to peruse and take advantage of. Both of these forms can be utilized via zipLogix by going to the MAR library.
Wire Fraud Advisory
This is a quick one page document that informs sellers and buyers to exercise caution when wiring funds in real estate transactions. It further lays out specific steps that should be taken to protect themselves when wiring funds, and is signed by the party(ies) acknowledging they have received a copy of the Wire Fraud Advisory.
Escalation Provisions in Offers
With inventory tightening up, we are seeing buyers request to have an escalation clause added to their offers. The MAR form outlines what an escalation clause is and provides a document that will ensure it is executed properly.
If you require assistance with the zipLogix program, please contact Sue at the Board Office (413-442-8049) who can walk you through creating an account and/or training on the program.