The California Association of Realtors is launching a new version of our standard real estate contract in November of 2014.
Among these changes are:
- It will go from eight pages to ten pages.
- There will be several new forms that are automatically associated with the contract.
- There have been some improvements to safeguard home sellers from “gotcha’s” (unexpected costs or delays) by the home buyer.
At the Gary Kent Team, we work hard for our clients to make sure that they understand the contract. In order to do this, we first thoroughly study the contract ourselves. In fact, if you want a good “trick question” for a real estate agent, ask them if they have ever read the entire contract, word for word (and if they understand it).
My general manager Kevin Hall, in addition to managing the office and the sales team for me, teaches real estate at Palomar College. On October 3, 2014, he will be presenting on the topic of the new contract at a state-wide conference in Los Angeles for real estate educators.
You can find a copy of his PowerPoint presentation here.
And you’ll find a copy of the current draft of the new contract here.
