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Insights Real Estate Blog

Force Majeure and the COVID-19 Pandemic

March 20, 2020 Contracts

Uncertain times lead to unanticipated concerns, and we grapple for clarity where none seems to exist. The most obvious question on many agents’ (and clients’) minds is whether the “Force Majeure” provision of the FAR/BAR contract allows a party to cancel. In a word, no, at least not initially. Section…

$0 Repair Limits vs. As-Is

March 5, 2020 Contracts

In Section 12 of the FAR/BAR contract, a seller warrants the operational condition and structural integrity of their property and has the responsibility to maintain or deal with such matters going forward from the contract’s effective date through closing. Subject to the Section 9(a) repair limits, the seller is responsible…

Money in the Middle

February 15, 2020 Transactions

It can be a funny feeling, finding yourself stuck in the middle… The middle of the road. The middle of the night. The middle of nowhere. Or, for a transaction broker, that perfectly legal place: the middle of the deal. Representing both sides puts the agent smack-dab at the intersection…