I can get behind Less Paperwork!
Yesterday, the California Association of Realtors announced the Fall 2009 Form Updates.
Incredibly exciting stuff here, people!
One change is the Agency Disclosure form. You know, the very fist form that is signed that explains what the agent's responsibility to the buyer and seller is. (And what is not the agent's responsibility.) Previously, 3 copies of this form have been needed... One between the Seller and the Listing Agent, one between the Buyer and the Selling Agent (AKA Buyer's agent), and one between the Seller and the Selling/Buyer's Agent. With the new form, we're able to complete just 2 copies.
Hooray for keeping a client's hand attached and reducing paperwork by one page!
Two REO Advisories were also released. They were revised to include information regarding the Buyer's Choice Act that went into effect on October 11th of this year. The Buyer's Choice Act states that the REO seller (the bank) may not *require* the buyer to use the bank's choice for Escrow and Title services. This does not disallow the bank to offer enticements for using their choice of vendors. Banks are still allowed to request specific vendors for both title and escrow.
In related news, I am pleased to offer DocuSign to all of my clients. This lovely service also helps prevent the carpal tunnel typically associated with the home buying process. I've been using the service for a couple weeks now and *love* it!
Image Credit: Flickr
