Another New Contract, Part 2

By Don Dunning | May 24, 1996

It is crucial for you to know exactly what you are taking on when you sign a contract. As a buyer or seller, you may be presented with one of the two California Association of Realtors (CAR) contracts concurrently in use.

In part one of this series, I compared and contrasted some aspects of the previous eight-page and what is referred to as the new “four-page” (actually, seven pages) CAR purchase contract for residential properties, one to four units. This article will look at some other important contract issues you should consider.

Another New Contract, Part 1

By Don Dunning | May 17, 1996

Earlier this year, the California Association of Realtors (CAR) again revised the purchase contract for residential properties with one to four units. Aside from changes in contract format and language, there is another important distinction from previous contract revisions. In the past, the new version of a contract replaced the older one. This time, the choice of using either the current, eight-page contract or the new, “four-page” contract is at the discretion of the agent. This has already caused some confusion among agents. If agents are confused, we can count on buyers and sellers being confused.