The Seller’s Statement of Property Condition Form: To Use or Not to Use?

Filling out real estate forms can be a daunting task. They can be long, complicated and require lots of signatures. But forms have a purpose, of course. They also tend to make transactions run smoother, especially digital forms that can be signed electronically and eliminate the hassle of scheduling in-person meetings. When working with a seller, there is one form which comes to mind that can do just that.

The Seller’s Statement of Property Condition is a standard form, but the state of Massachusetts does not require this form to be filled out as a part of a real estate transaction. So, it’s up to the individual company to decide if they are going to use it or not.

This eight-page form can be a wealth of information for buyers. Quite simply, the form details everything a homeowner may know or doesn’t know about the property during the time they have owned it. In this form, members will find questions about special permits, water damage and structural components, including heating, plumbing etc.

Many of the sellers complete the form by checking the third box, “unknown.” However, if sellers take time to fully complete this form, they could save a buyer the trouble of making an offer. In addition, it’s very difficult for a buyer to come back after a home inspection and ask a seller to provide credit for a repair if they were aware of the issue prior to an offer. The more one discloses, the less they have to deal with after.

Whether your company requires sellers to complete the Seller’s Statement of Property Condition or not, you should know that there is an easy way to access it through MAR’s website as a member benefit. One of the recent upgrades allows you to email the Seller’s Statement of Property Condition to a client and have it completed electronically. It works like electronic signature. Once the seller completes the form, the agent gets a notification that the form has been completed.

It’s nice to know that in today’s fast-paced world, even lengthy real estate forms can be completed quickly and painlessly.

For more information on your free access to zipLogix, the official forms software of the National Association of REALTORS®, as a member of the Massachusetts Association of Realtors® please visit the MAR forms page.

The best technology tools for selling real estate | GRI 301

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Learn about the best technology tools for selling real estate, as well as how to be a paperless agent. Instructor Deb “on the Web” Agliano will give you her top apps and sites that help agents make more sales.

Students will also learn how to set themselves apart online and how to produce real estate videos (including the opportunity to try one in class), develop a social media strategy and handle online reputation management.

Register for the two-day class today.

GRI 301: Technology
Dates:Part 1: Nov 3 8:00am-5:30pm
Part 2: Nov 10 8:00am-4:30pm
Where: MAR, HQ 1400 Main Street, Waltham
Instructor: Deb Agliano
Price: $250 ($125 per part).

For more information and registration visit the MAR events page.

The Wednesday Word: New Net Neutrality Rules Approved by the FCC

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(Please note: The following blog post was prepared by MAR Legal Staff: Michael McDonagh, General Counsel; Ashley Stolba, Associate Counsel; and Justin Davidson, Legislative & Regulatory Counsel. Edited by Christine Howe, Legal Affairs & Finance Administrative Assistant)

Last Thursday (February 26, 2015) the Federal Communications Commission (FCC) approved new “net neutrality” rules that will benefit REALTORS®. As the profession moves toward more frequent internet use for online resources, forms, listings and generally working with clients, the changes are welcomed by the National Association of REALTORS®.

“Today’s vote ensures that consumers will have equal, unencumbered access to the Internet and all legal content and applications, that cannot be blocked or throttled by Internet Service Providers,” NAR President Chris Polychron said in a statement released by NAR on Thursday. The new rules give the FCC authority to regulate broadband providers and restrict their ability to control download speeds in addition to prohibiting paid prioritization that tends to benefit large companies that can pay to receive faster internet delivery. This authority truly benefits REALTORS® in addition to small business owners.

While the FCC has approved the new rules, the work is not done yet. NAR stated it also will continue to work with Congress as it considers net neutrality legislation to ensure it is beneficial to REALTORS®.

To read more about net neutrality, visit the NAR Net Neutrality Resources page.