New CAR Forms Released for COVID-19
We wanted to let you know that the following forms have officially launched in ZipForms.
- Addendum to the Residential Listing Agreement (RLA-CAA) for sellers and listing agents to sign (Note – the RLA-CAA, has a hold harmless clause in Paragraph 5)
- Property Viewing Advisory and Declaration (PEAD) that will be given to and signed by the seller, buyer, agents and anyone else who will be entering the property (Note – the PEAD has an assumption of risk clause, which is similar to a hold harmless, also in Paragraph 5).
Additionally, in zipForm® there are two new forms that deal with Coronavirus:
- Coronavirus Addendum or Amendment (CVA) that allows for an extension of time or cancellation of the purchase agreement due to unforeseen Coronavirus circumstances.
- Notice of Unforeseen Coronavirus Circumstance (NUCC) is the notice form to be used when the CVA is part of the purchase agreement and one party has an unforeseen circumstance that impacts the ability to perform under the purchase agreement.