GCAAR Regional Sales Contract · Federal Title & Escrow Company

How to change your chosen title company after you have a ratified sales contract

Written by Federal Title on November 2, 2016.

Most homebuyers know by now that it’s their legal right to choose their own title company and that shopping for title services is one of the most effective ways to reduce costs at the closing table. (For those who haven’t heard this, read...

Sellers should consider an appraisal addendum

Written by Guest on September 5, 2013.

As we are again finding ourselves in a competitive market, with sellers in many cases receiving multiple offers, one issue that has re-surfaced is the concept of “waiving the appraisal contingency.” What does this mean to a buyer...

The bait ‘n’ switch continued…

Written by Guest on August 27, 2013.

In Part 1, we looked at a scenario where a purchaser (Offer B) was attempting to switch from an “all cash” purchase to using lender financing under the GCAAR Regional Sales Contract, after the contract had been ratified. We concluded...

The bait ‘n’ switch: From an all-cash offer to not

Written by Guest on August 13, 2013.

Consider the following scenario: It’s a bidding war, and the seller of a property is choosing between multiple offers. It comes down to the two highest offers: Offer A: $505,000, FINANCING of 20% down and 80% loan, $5,000 earnest money deposit,...

Have a home inspection without placing a contingency in the contract

Written by Guest on March 5, 2013.

I want a home inspection, but I don’t want to put a contingency in my offer. How can I have it both ways? Since inventory is low in the DC area, most potential buyers do not want to remit an offer that has any contingencies. Many buyers find...

Buying a newly renovated house

Written by Guest on February 15, 2013.

I am putting in an offer on a recently renovated house and I am not sure the sellers got permits. Is there a way to protect myself in the contract? Buying a newly renovated house is always an adventure. What do you ask for and what don’t...

Agents can define ‘settlement costs’ in sales contract to protect clients

Written by Guest on January 2, 2013.

A closing at Federal Title last week resulted in a dispute between the buyer and seller over the definition of “settlement costs” that could have been avoided had the GCAAR Regional Sales Contract better defined the term. I’ll...

Changes in store for GCAAR Regional Sales Contract

Written by Guest on November 8, 2011.

The GCAAR Regional Sales Contract is widely accepted and used in the Washington, DC metro area as the standard real estate sales contract. As of January 1, 2012, some changes are going to alter the contract significantly. In response to...

Make him (or her) an REO offer he (or she) can’t refuse

Written by Guest on March 19, 2010.

A Real Estate Owned (REO) property is a property held by a mortgage lender or bank due to an unsuccessful foreclosure auction. In other words, the prior owner defaulted on the loan; the lender instituted a foreclosure proceeding; the foreclosure...

‘As Is’ Means As Is for Termites

Written by Todd Ewing on May 31, 2009.

“. . . All clauses in this Contract pertaining to Property condition, termites or compliance with city, state or county regulations are hereby deleted from this Contract. . . .” – AS-IS para. #3, Addendum of Clauses, GCAAR...

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Tag: GCAAR Regional Sales Contract

How to change your chosen title company after you have a ratified sales contract

Sellers should consider an appraisal addendum

The bait ‘n’ switch continued…

The bait ‘n’ switch: From an all-cash offer to not

Have a home inspection without placing a contingency in the contract

Buying a newly renovated house

Agents can define ‘settlement costs’ in sales contract to protect clients

Changes in store for GCAAR Regional Sales Contract

Make him (or her) an REO offer he (or she) can’t refuse

‘As Is’ Means As Is for Termites

Settlement Observer

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