New/Updated Forms
Release Date - June 13, 2019
The forms listed below are effective as of today, June 13, 2019.
 Be sure to use only the new version of the Purchase and Sale Contract for Residential Property and the Buyer's Notice of Removal of Contingencies from today forward. Please destroy all prior versions of all forms to protect you and your clients.    Use of obsolete forms may expose you to liability .

It is highly recommended that you attend a session on these changes. We've added a session at GRAR on the evening of June 17. Please see below to register.

It is also recommend that agents reach out to attorneys and mortgage lenders they use to make sure they are aware of the changes.
Final Forms Now Available
The final versions of all new and updated forms are now available by clicking the " Contracts & Forms " button on your GRAR Portal and also in Transaction Desk . Keep reading for more on a new NYSAR form available today as well.
All prior versions and discontinued forms will be removed from TransactionDesk as well. If you or your office has set up any templates in TransactionDesk, they will need and now may be updated to include the new and revised forms.
List of Updated & New Forms
  1. Purchase and Sale Contract for Residential Property Updated
  2. Buyer's Notice of Removal of Contingencies Updated
  3. Contingency Addendum New
  4. Seller's Notice of Removal of Contingencies New
  5. Short Sale Approval Addendum New
Plus
  1. Request for Affirmation of Presentation of Purchase Offer from NYSAR - see below
The following forms will be permanently discontinued
(now part of the new Contingency Addendum):
  1. Seller Financing Discontinued
  2. Mortgage Assumption Discontinued
To follow in the fall Buyer’s Conditional Removal of Contingencies
Until then, please use the existing form and the “Other” field in the event a release of one of the new contingencies is required.
How Did We Get Here?
  • The new Single Family Purchase Offer and accompanying addenda have been a three plus year joint effort by GRAR and the Monroe County Bar Association which started as an effort to reorganize the contract to a format that put similar provisions together.
  • The joint committee then took a look at provisions that didn’t conform to our practice and worked to correct them as well as modifying provisions that had unintended/undesirable results.
  • The result is a major overhaul of the appearance of the contract with a handful of major changes that would be easy to overlook as a result of the change in appearance. Some of these are as follows. (Please see the Training Handout in the member portal for additional details).
  • Building Code Compliance Section
  • The Realtor/Bar Committee worked on the provisions for the Building Code Compliance section for almost a year with several goals in mind: preventing a permit issue from killing a deal at the last minute and making the permits section operate more closely with current practice.
  • Code compliance is now a contingency. Forces the parties to deal with the permit issue up front, instead of days/hours before closing. 
  • If applicable, Seller provides all permits of record, within 10 days of acceptance. It’s no longer open ended. Buyer then has 5 days to review and make demands for a specific Certificate from Seller. Seller then has 5 days to provide the Certificate or enter into an agreement with Buyer. 
  • The check boxes identifying which Certificates the Seller needs to provide have been eliminated. There is no longer a “fee” paid by Seller in lieu of the Certificate unless agreed to by Buyer.
  • It’s a contingency, so either party has the right to cancel if the time frames aren’t complied with, much like the Property Inspection Addendum.
  • Approval of Attorney(s)
  • To comply with Duncan & Hill fully, the attorney approval contingency is no longer an option for Buyer to check. It is always a part of the Contract so now properly stands alone.
  • Approval period is now a minimum 3 days and Saturdays are no longer considered a business day for approval purposes.
  • Waiver period has been reduced to 2 days, down from 5.
  • Title Matters
  • Seller is now required to order the abstract & survey within 5 days of acceptance of the contract.
  • Abstract, survey and proposed deed to be delivered within 20 days of acceptance.
  • Seller’s counsel cannot wait for commitment to be issued, to either order or deliver title. 
  • Necessary to comply with TRID and contract closing date. It’s impossible to meet contract time frames with a Seller that waits to order the abstract & survey.
  • Other Reminders
  • The Mortgage commitment date in the contract is the date the mortgage contingency needs to be released by (buyer has accepted terms of the commitment and there is an acceptable appraisal) AND there is a mortgage contingency release that needs to be signed by the buyer as any other contingency.
  • For attorneys - ordering surveys, etc. within 5 days of acceptance
  • For lenders that mortgage commitment date again is the date the mortgage contingency needs to be released by (meaning buyer has accepted terms of the commitment and there is an acceptable appraisal), NOT the date the lender delivers the commitment to the buyer.

Record Retention
We often get asked about record retention with regard to your transactions so it seems like a good time to review this. Did you know that only the broker is required to retain records once a transaction closes? If not, then keep reading. Below we are providing two articles on this topic. One from NYSAR Legal Counsel, Anthony Gatto, and the other from the NY DOS.

A New NYSAR Form is Ready Too
With regard to NAR Standard of Practice 1-7, which was put in place earlier this year, NYSAR has created a form that may be used for this purpose and that form is also now on Grar.org and in TransactionDesk. Please note that the Request for Affirmation of Presentation of Purchase Offer form is an optional form. There is no “required” language and it can be extremely simple or as complex as you want to make it (ex. It can be an email request).

Here is the Standard of Practice in full:

When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/ landlord has waived the obligation to have the offer presented. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/19)
Attend Training on the New Forms 2 hours CE Credit
Evening Class at GRAR
6:00 PM - 8:00 PM
GRAR Classroom
3445 Winton Place, 2nd Floor
Rochester NY 14623
Monday, June 17
GRAR | Education. Information. The tools and support you need.