The Missouri REALTORS (MR) Risk Management Mission Committee recently met and approved the mid-year forms revisions from the Residential and Commercial Forms Committees going into effect July 29, 2024.
As expected, there were several revisions to the MR brokerage services agreements and the residential sale contract, and they approved a few new forms.
Contingency on Buyer’s Assumption of Existing Note and Deed of Trust (Form #2105) – Interest rates have increased and the probability this form will be used has increased. It has been a while since the form was reviewed and changes were needed to meet current market conditions.
The current form (dated 01/20) will be honored for six months once the new version is live on January 1, 2024.
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