New Regional Sales Contract - What's New on Page 1

In addition to the larger, Times New Roman font (to make the contract easier to read after multiple faxes) here is brief summary of what is new on Page 1 of the New Regional Sales Contract. The changes are highlighted in the image above. Click on the image for a larger version.

Pages 2 - 10 will follow in later posts.

*** PREAMBLE: Adds “who, among other things” ; reference prior disclosures of brokerage types and relationships; add language for the parties acknowledge the sufficiency of consideration and mutuality of obligations.

1. REAL PROPERTY: Minor changes in order of Legal Description, moving Parking Spaces closer to front; added municipality, made Property Defined term earlier in paragraph.

2. PRICE AND FINANCING (old Paragraph 4): This paragraph is moved forward in the Contract so that the essential elements of the deal are taken care of right away . . . This Property at This Price. Also, if there is Seller Financing be sure to complete the new Seller Financing Addendum to be released at the same time as the new Regional Sales Contract. Added “if applicable” after types of trusts

3. DEED(S) OF TRUST (old Paragraph 7): Moved forward to get money issues addressed together. Together with paragraph 2 becomes the Specified Financing as that term is now defined.

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