Neil Kalin, Assistant General Counsel of the California Association of Realtors (“CAR”), announced today that effective November 2014, the CAR will make available a newly revised form for the “Residential Purchase Agreement” (“RPA”). www.CAR.org
The new C.A.R. RPA (California Association of Realtors’ Residential Purchase Agreement) contains many significant changes that buyers and especially their real estate agents and real estate brokers must now carefully navigate. Approximately 75% of the new RPA contains changes, roughly half of the sub-paragraphs contain some revisions.
The C.A.R. revises this form to be responsive to the needs of California buyers and sellers of residential real estate.
I will be discussing certain of the material changes made to the CAR RPA in the next few weeks.