CAR New Release on Forms – April 2007

Published: April 23, 2007

<strong>C.A.R. RELEASES NEW STANDARD FORMS</strong>The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) is releasing three new standard forms this week. The April 2007 Forms Release is the first of two regularly scheduled releases published every year.  The new C.A.R. standard forms for April 2007 are as follows:<br /><br /><strong>- Agent's Visual Inspection Disclosure (AVID):</strong> This 3-page form is an optional form to assist agents to demonstrate in writing, if desired, that they have carried out their limited legal duty to inspect property. Under preexisting California law, an agent must conduct a diligent visual inspection of a property consisting of one-to-four dwelling units, and disclose to the buyer all material facts that the visual inspection would reveal. The first page of the AVID defines the parameters of the agent's inspection. The remaining two pages of the AVID allow an agent to jot down disclosure items room by room. The AVID may be attached to the agent's section of the Transfer Disclosure Statement (TDS) or it can stand alone when no TDS is required.<br /><br /><strong>- Manufactured Home Advisory Addendum and Release (MHA):</strong> This form informs a buyer that the law prohibits occupancy of substandard manufactured and mobile homes as described. This form also provides the buyer's agreement to release the broker and seller from any claims if the buyer occupies the property in violation of such requirements. This form may be attached to the Manufactured Home Purchase Agreement (MHPA).<br /><br /><strong>- Manufactured Home Dealer Addendum (MHDA):</strong> This form complies with certain disclosure requirements for manufactured and mobile home dealers. The MHDA form may be attached to the MHPA when a dealer represents a buyer or seller in a transaction.<br /><br />The April 2007 Forms Release also includes revisions to eight existing standard forms. The Residential Listing Agreement – Exclusive (RLA) now prompts the listing agent to specify the amount of MLS compensation offered to cooperating brokers. The Statewide Buyer and Seller Advisory (SBSA) now includes information about private transfer taxes and the Williamson Act. Two compliance statements (WHS and SDS) have been consolidated into one form called the Water Heater &amp; Smoke Detector Statement of Compliance (WHSD). The three buyer-broker agreements (BBE, BBNE and BBNN) have been renamed to Buyer Representation Agreements (BRE, BRNE, and BRNN).<br /><br />For more information on the April 2007 Forms Release, including other revisions, go to <a title="" href=""><strong><font color="#333366"></font></strong></a>. C.A.R.'s standard forms are available at local boards and associations, through C.A.R.'s product mall at <a title="" href=""><strong><font color="#333366"></font></strong></a>, and through WINForms®. For a compilation of all C.A.R. standard forms, an updated Sample Forms Book (also available as a C.D.) will be released next month.<br />

Last modified: April 23, 2007 at 8:32 pm | Originally published: April 23, 2007 at 8:32 pm
Printed: September 28, 2020