Contract for sale of residential real estate: 2013
Tenant occupied properties:
Line 46 – “If the Property is to remain tenant occupied, then the parties should complete and attaché Rental Property Contract Rider MSC -2035”
Appraisal is not part of contract unless you attach rider MSC 2020:
Line 67 – “If Buyer’s performance under this contract is to be independently conditioned upon the Property appraising at a specified value, then Buyer should complete and attach to this Contract rider MSC – 2020”
Is a survey being asked for?:
Line 88 - “MSC 2500 (Survey/Elevation Certificate Order Form) may be used...”
Inspections:
Line 115 – The term independent has been removed from the description of the inspector. This should mean that as long as uncle Bob is a qualified electrician it does not matter that he is doing the inspection for his niece or nephew.
Home Warranty:
Line 152 –MSC 2025 “A limited warranty or service agreement may also be available for purchase regarding the Property.” MSC 2025
Inspections:
Line 168 – MSC 2045 “Buyer is encouraged to utilize form MSC 2045 Buyers Inspection Authorization to facilitate and coordinate the inspection process”
Section 9. Loss; Condemnation:
Line 206 – Language added to direct you to use MSC 2510 if notice of property damage is needed.
Section 23. Principals(s) Involved:
Lines 356-359 - Language added to include inserting the name of the licensee who is a real estate broker or salesperson, that is either party to this transaction, a principal of and/or has a direct or indirect ownership interest in Seller or Buyer, and/or is an immediate family member of Seller or Buyer.
Lines 380 and 381 -- Licensee assisting Seller license disclosure boxes have been changed: Just an FYI this might be a hard change to get use to, please review.
Contract for sale of residential real estate: 2014 *with changes!*
