BROKER RISK MANAGEMENT
WEEKLY PRACTICE TIP
CAR Sample Transaction Letters
In response to numerous requests from members, the CAR legal department has created and published in zipForms several sample letters that can be used in certain transactional situations. These can be accessed under the Library Forms tab as “CARSL – CAR Sample Letters.”
These sample letters contain instructions about their purpose at the top with tips and suggestions about their proper use and delivery. They are like other zipForms form in that they can be filled in online. The forms fall into three basic categories:
A. Listing and Transactional
1. Demand Seller Perform before COE with Reservation
2. Demand Seller to Close
3. Demand for Deposit Buyer Failure to Close
4. Demand for Deposit for Contingency Cancellation
5. Demand that Offer be Presented to Seller
6. Demand that Seller Vacate
7. REO Seller Failure to Provide Disclosures
8. Receipt of Subsequent Offer
9. Request for Additional Payments from Buyer
10. Request to Participate in Presentation of Offer
11. Risk of Failure to Close, Breach of Contract
12. Seller Breach of Listing
13. Seller Failure to Deliver Documents.
14. Seller Failure to Provide Disclosure
15. Seller Failure to Provide Tax Withholding
B. Landlord/Tenant
1. Abandoned Personal Property (Commercial and Residential letters)
2. Access to Premises
3. Belief of Abandonment Residential
4. Instructions when Tenant Vacates on Termination of Tenancy
5. Security Deposit Return
6. Tenant Failure to Comply with Lease/Rental Agreement
C. Compensation
1. Demand for Full Commission
2. Demand for Compensation after COE
PRACTICE TIPS
1. Before using any form letter, review its stated purpose and any instructions for use and/or delivery.
2. Carefully complete the form and review for accuracy before sending to the other party or agent. Review any questions you may have about the form or its applicability to your situation with your manager.
3. If you don’t see a form in the CAR library that meets your needs, go to your manager who may request that we create a letter or notice that meets your needs.
4. Other form letters will be added by CAR attorneys from time to time, so check this zipForms library for updates.
WEEKLY PRACTICE TIP: DO NOT FORWARD TO CLIENTS. This Weekly Practice Tip is for the exclusive use of clients of Broker Risk Management and their agents. It may not be reproduced or distributed without the express written consent of Broker Risk Management. The advice and recommendations contained herein are not necessarily indicative of standards of care in the industry, but rather are intended to suggest good risk management practices.
© Copyright Broker Risk Management 2013 01/11813