For any new deals, subject to the considerations below, an agent may use a fill-in-the-blank COVID-19 Addendum that hasn’t been approved by GRAR/MCBA as an addendum to the GRAR/MCBA approved form purchase contract if, and only if, the COVID-19 Addendum includes language stating that it is expressly subject to, and contingent upon, the approval by each party’s attorney.
The following additional considerations should also be considered by the agent. First, given the unique nature of the COVID-19 outbreak, and its ramifications, it would be prudent for the Agent to discuss with the client whether the client’s attorney should be consulted before signing the contract (and addendum). Second, the agent should consider whether a COVID-19 Addendum is truly needed and whether using the existing GRAR/MCBA approved form contract and filling in the blanks to include longer periods for performance is adequate. Third, if GRAR/MCBA ever approves a form COVID-19 Addendum, the agent should use that approved form - - however, at the present time no such approved form exists. Fourth, since many of the COVID-19 Addenda that I have reviewed are quite complicated, an agent should review any fill-in-the blank form first to make sure that they understand its terms before asking their client to sign it - - this is certainly not a “one size fits all” circumstance.