GCAR Members,

Governor Tate Reeves has signed Executive Order No . 1466 to order all of Mississippi to Shelter-in-Place. This order is effective at 5:00pm on Friday, April 3, 2020, through 8:00am on Monday, April 20, 2020. As per Executive Order 1463 , all Real Estate Services are still considered essential business, including legal services, accounting services, appraisal services and title services.

To read Governor Reeves's full Executive Orders click here: 

While Real Estate Services are considered Essential Business, please conduct business in a safe and responsible manner. Do not expose yourself or others to unnecessary harm. Still avoid large groups, work virtually as much as possible, and minimize contact with others to help reduce the spread of COVID-19. The health and well being of you, your family, and your customers is the most important thing to consider during this time. The more we do to help stop the spread, the quicker we can all return to business as usual.

If you do have essential business to take care of during the Shelter-In-Place Order, such as a closing that was in progress, you may need to carry a copy of the executive order, along with a letter from your broker stating your business is essential, and a copy of your license or business card. We have included a template letter for brokers to use.
Mississippi REALTORS®, MAR Staff and General Counsel Ron Farris, have been working diligently through the Standard Forms Advisory Committee to draft and post forms designed to cover commonly occurring or anticipated scenarios caused by the current Novel Coronavirus (COVID-19) pandemic. Four new forms have been created and will be posted for member access on the MAR Web site and on zipForms and dotloop. The Addendum to the F1 Contract is currently accessible, and it is expected the other three forms will follow within 24 to 48 hours.

  • COVID-19 Addendum to the F1 Contract for the Sale and Purchase of Real Estate (F1) provides some relief to a Seller and Buyer by relaxing the “Time is of the essence” provision of the Contract and acknowledging the parties’ right to cooperate in good faith and make reasonable allowances for delays due to quarantine or closure related to the COVID-19 state of emergency. This addendum, if signed by Seller and Buyer, allows for them to agree to alter deadlines and contingencies as the parties may agree, subject to the right of either party to terminate the Contract if more than 30 days elapses past the Closing Date in the contract. The form also offers the seller and buyer an option to cover the situation where a buyer loses their financing due to COVID-19 loss of income after the loan contingency has been waived. 

  • COVID-19 Addendum to the Mississippi REALTORS® Residential Lease Agreement (F3) enables the Lessor and Lessee to make allowance for a verifiable medical quarantine due to COVID-19. This Addendum gives the Lessor the ability to question whether a requested delay based upon medical quarantine is, in fact, due to a medical diagnosis so that the Lessor maintains the right to decide whether the extension request is valid or not. If the Lessee does not provide sufficient proof of a COVID-19 medical quarantine, the Lessee is not granted an extension and must honor the terms of the Lease to surrender the Premises by the lease Term expiration date. Verified extensions are considered week-to-week and provision is made for periodic rent during any extension.

  • COVID-19 Addendum to the Mississippi REALTORS® Listing Agreement (F4) enables members to deal with COVID-19 issues in the context of an existing listing. It amends the listing agreement to add a special provision for “Showing or Inspection of the Property” addressing possible COVID-19 situations, and includes protection for brokers and agents from claims relating to a listed property. This form also provides options to a broker when an owner imposes restrictions on access related to COVID-19 that trigger MLS rules or render the listing unmarketable.

  • COVID-19 Disclosure and Waiver Regarding Physical Property Showing or Inspection provides members an option for clarifying responsibility and risk among the owner, visiting parties (e.g., potential buyers, inspectors, appraisers, others), and the brokers and agents involved with a particular property. This versatile, multi-party form is designed to protect brokers and agents against potential claims arising out of a particular property by persons entering the property through a broker or agent involved in the transaction.
Applying for the CARES Act

As you have seen from the NAR website ( www.nar.realtor/coronavirus ), there is a growing list of resources available to REALTORS®. One of the more common questions asked is “Are REALTORS® eligible for unemployment?” The answer is YES.
 
NAR's Advocacy FAQ's document states:
“Real estate professionals will be eligible to apply for unemployment benefits, under the new “Pandemic Unemployment Assistance” temporary Federal-state program if they have been fully or partially unemployed due to an inability to work as a result of the COVID-19 public health emergency. This includes self-employed individuals and independent contractors. The CARES Act provides an additional $600 per week (for up to four months) on top of the amount provided under a state’s compensation law through December 31, 2020. Typically, states base compensation amounts on an individual’s wages from their most recent tax year, and net income from all self-employment that was reported on an individual’s tax return. However, if an individual is eligible to telework with pay, or has paid sick leave or expanded family and medical leave, they are not eligible for unemployment assistance. These new benefits will be carried out through agreements between each state and the federal government, where states will be fully reimbursed for the compensation paid out, plus administrative costs. Therefore, individuals should check with their state labor department or employment commission to determine their options for unemployment. For individual state and local labor services, including claims filing, see here .” 

If you have a question regarding unemployment or if you have an issue with your application, please contact your State Representative or State Senator .
Government Resources and Links

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Updates from NAR, MAR, and GCAR

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Updates from GCAR: