Residential Contract-LA (Archives)

FAQ About the AAR Loan Status Update | January 2011

Posted on January 27, 2013 by

QUESTION L-1 Q: Why is the Loan Status Update (“LSU”) with lines 1-40 completed required five days after Contract acceptance? A: The LSU is required five days after Contract acceptance to establish that the buyer intends to proceed with the lender indicated in the LSU on the terms described. The LSU also allows the seller [...]

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FAQs About the 2011 AAR Pre-Qualification Form

Posted on January 1, 2011 by

Sample Form: Pre-Qualification Form This form will go live on zipForm® as of February 28, 2011. (“Contract” refers to the 2011 AAR Residential Resale Real Estate Purchase Contract.) QUESTION P-1 Q: What is the purpose of the Pre-Qualification Form? A: The Pre-Qualification Form was developed to provide information on the buyer’s ability to qualify for [...]

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FAQ about the Financing Section of the 2011 AAR Residential Resale Real Estate Purchase Contract

Posted on January 1, 2011 by

Sample Form: Residential Resale Real Estate Purchase Contract This form will go live on zipForm® as of February 28, 2011. QUESTION C-1 Q: Why doesn’t the Residential Resale Real Estate Purchase Contract (“Contract”) require the buyer to submit a Pre-Qualification Form with the offer? A: The Contract does not require the buyer to submit a [...]

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AAR Miscellaneous New and Revised Forms | January 2011

Posted on January 1, 2011 by

The  Miscellaneous Forms Workgroup was chaired by Martha Appel and included Larry Hibler, Jim Amdahl, Kathy  Sanford, Paula Serven, Liz Echeverria and AAR staff Christina Smalls and Jan  Steward. This group worked on five miscellaneous forms: Multiple  Counter Offer, Multiple Offer/Counter Offer, Counter Offer, Residential Buyer’s  Inspection Notice and Seller’s Response (BINSR) and Short Sale [...]

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