New Forms and Revisions in Effect August 1
After months of diligent work by GCAAR's Forms Committee, the following NEW and revised forms were released August 1, 2015.
Form 910, "Listing Agreement for Improved Real Property and Co-operatives" (DC & Montgomery County)
Language was added to conform to the Maryland Real Estate Commission's request that consumers are given the opportunity to approve the use of the "Coming Soon" status in MRIS. Learn more: MRIS Rules and Regulations document and MRIS Coming Soon Brochure.
Form 940, "Title Insurance Notice and Addendum" (DC & Montgomery County)
This NEW REQUIRED FORM is pursuant to the Consumer Financial Protection Bureau's (CFPB) new "Truth in Lending Act (TILA) - Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure Rule" ("TRID Rule"). Learn more here.
Form 1341, "Buyer Agency Agreement" (DC & Montgomery County)
The much simplified Buyer Agency Agreement aims to keep legal and substantive elements intact, while significantly abbreviating extraneous & repetitive text. The result is a two-sided document, half the length of the previous document. It should be more convenient and provide a higher level of protection for GCAAR agents.
GCAAR Form #1370, "Notice of Contractor and Service Provider Licensing Status" (Montgomery County)
This NEW GCAAR form aims to satisfy the Maryland Real Estate Commission regulation regarding real estate licensee "service recommendations" which took effect August 18, 2014. This form replaces the MAR form for GCAAR members.
View the explanation of new and revised forms. Access the forms here.