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CAUTION BEFORE USING STRIKETHROUGH:
by MAR Legal Counsel, Hannah McMullen
I commonly get asked whether it is permissible to strikethrough portions of the MAR forms. It is important to note that all of the MAR forms were intentionally formatted so that strikethroughs are not required. When a form allows for the selection of options, such as the Purchase and Sale Agreement and Property Disclosures, the selection should be indicated using the checkboxes provided on the forms.
One example is the Financing Section in Paragraph 14 of the standard Purchase and Sale Agreement. There are two bold headings in this section, “Not Subject to Financing” and “Subject to Financing”. Please utilize the checkboxes under the section that is applicable to your transaction. It is not necessary to strikethrough the section you are not selecting.
Some agencies might have a company policy that permits the use of strikethroughs and you should consult with your Designated Broker regarding this practice. Please note, however, that any time a strikethrough is used in a contract, it should be initialed by all parties to the contract to confirm that all parties consent to the changes. I have heard concerns from some lenders when they receive copies of contracts with strikethroughs that are not initialed. This may cause unnecessary delays in the financing process because the lenders will require that the parties initial the strikethroughs before proceeding.
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