contingency removals: CAR Contingency Removal Form-Gaming the Transaction - 05/11/16 02:50 AM

Recently, I had a lively debate with one of my very sharp brokers (my hubby) regarding the removal of the inspection contingency on the CAR-CR form.
His argument was, if the inspection contingency is removed but the disclosures, reports, HOA docs, title report are not, then the buyer COULD cancel the contract if these documents do not meet approval and retain their deposit. He is correct but there is another angle to it.
As one of the original authors of the Contingency Removal form, I do understand the intent and how it’s to be used.
When the contract committee first created the architecture of … (3 comments)

contingency removals: When are disclosures and documents due using a CAR contract? - 08/14/11 12:34 PM
Hi All!
Received an email from a student named Debbie about time frames for disclosures and documents. Here's my response. I hope it helps! :-)
 
Debbie: We (company) are using Docusign which is a great time saver but I’m still confused as to how to determine time frames for all the various disclosures to be completed.  Any help or suggestions I can get is appreciated.  
 
Diana: If you take a look at the CAR contract, the seller usually has 7 days  from acceptance to deliver all required disclosures and reports to the buyer. (See page 5 14A) .
(2 comments)

 
Diana Turnbloom, The Leading Expert in TC Services & Education (Escrowcoord.com)

Diana Turnbloom

The Leading Expert in TC Services & Education

Martinez, CA

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