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August 6, 2014

Featured Story

2015 Dues Installment Plan Now Available for Registration

Suburban West is once again offering an alternative payment option for our members by relaunching its Membership Dues Installment Plan for 2015 REALTOR dues.

The 2015 Membership Dues Installment Plan spreads out the dues payment over a four month period (September-December) that gets automatically charged to your credit or debit card (Visa, MasterCard, American Express or Discover). Beginning today, Primary REALTOR and Designated REALTOR members can sign up for the plan as an alternative to paying membership dues in one lump sum. Click here for full details and here for the Membership Dues Installment Plan Enrollment Form. The Enrollment Form must be submitted to the Association office no later than Friday, September 5th. The traditional dues payment option will still be available beginning October 1st.

Please note that Suburban West is constantly identifying programs and services that will give our membership a competitive edge including; monthly market reports covering 39 local school districts, customizable flyers to utilize with clients, 50+ free training programs per year, free access to zipForm Plus (standard forms), DocuSign (electronic signatures) and DocuSign Transaction Room (transaction management) and much more. We thank you for your continued membership and support.

For membership dues questions, please contact Suburban West Bookkeeper, Cathy DiMarco.

Suburban REALTORS Alliance

Document Filing Fees Increased

The recently passed Pennsylvania 2014-2015 budget includes an increase in filing fees for all documents filed with the Record of Deeds, including real estate-related items. The fees will affect the filing of deeds, mortgages, assignments of mortgages, release of mortgages, satisfaction of mortgages, installment of sales, easements, rights-of-way and 30+ year leases. Different counties are implementing the new filing fees inconsistently. In our region:

Chester County - will have a grace period until August 8th, however, the new fee has begun to be implemented in the Chester County Recorder of Deeds last Friday (August 1st).
Delaware County - will be collecting the increased fee of $12 on August 8th.
Montgomery County - will be collecting the increased fee of $12 on August 8th.

If you have questions, please contact the Suburban REALTORS Alliance directly at 610-981-9000.

SWRA Seminars & Events

REALTOR Happy Hour Coming to the Main Line Tomorrow! (August 7th)

Join us tomorrow night (Thursday, August 7th; 5:00pm-7:00pm) for our REALTOR Happy Hour at 30 Main in Berwyn. Our fun, summer event will feature: (1) discounted drink specials and free appetizers (2) Wine Pull Fundraiser to support RPAC (3) chances to win free prizes courtesy our Affiliate members and (4) networking with fellow SWRA members.

Parking is available off of Main Street behind the restaurant as well as behind the bank and across the street at the Berwyn Station lot. Remember to submit your business card at the door to have a chance to win prizes donated by our Affiliate members. Attendees are also encouraged to participate in our Wine Pull Fundraiser to support RPAC. We hope to see you there!

Association Tips

Legal Tip: 3407 and 5407 Certificates

This Legal Tip has been provided by SWRA Staff Paula Tansey

The Association receives a lot of calls from REALTORS requesting a form 3407 or 5407. These are not standard forms. The numbers refer to the sections of the Uniform Condominium Act (3407) or the Uniform Planned Communities Act (5407). The respective acts require the unit owner (Seller) to provide certain information to a prospective purchaser. Typically the Seller will look to the homeowners Association to supply the information required. The form or format is not specified by the act, only the content. So while there is no standard form for this information, it is helpful for the REALTOR to be aware of the information required so to make sure that the buyer receives the required information.

Note that in addition to the certificate information, both acts require that the buyer also receive a copy of the declaration by laws and rules and regulations.

Professionalism Tip: PAR Business Meetings

This Professionalism Tip has been provided by SWRA Staff Paula Tansey

The Pennsylvania Association of REALTORS business meetings, held three times a year, are an excellent place to network, learn and provide feedback on a variety of topics. This meeting of REALTORS from across Pennsylvania offers an excellent way to increase your business and contribute to raising the bar of professionalism at home and throughout the REALTOR community. The September business meetings will be held September 15-17 at the Hilton Harrisburg.

Registration is free but recommended. The hotel is easily accessible by car or train to attend on individual day(s). If you prefer overnight accommodations at a discounted rate, rooms are available through August 15th or until the block sells out. Click here to reserve a room. Click here to see the full schedule of opportunities during the September business meetings. Read more here.

Association of REALTORS School

Broker Licensing Returns With Real Estate Investment

The Association will be continuing its broker licensing schedule with the five-day course, Real Estate Investment, beginning on September 8th. This course will cover the fundamentals of real estate value, forms of ownership, taxation, financing and cash flows as they apply to real estate investment. The mathematical concepts of "time value of money" and "six functions of a dollar" will be introduced.

Click the following links for a full schedule of Broker Core Courses and/or Broker Elective Courses. For questions or to register for Real Estate Investment, please contact ARS School Administrator, Gail Parke or call the Association of REALTORS School at 610-560-4900.

Reminders:

C/I Exchange Meeting This Friday, August 8th

The Commercial/Investment Marketing Exchange will meet this Friday, August 8th (8:15am-10:00am) at the Association office in Malvern. This month's topic will feature "Commercial Lending: Who's Got the Money?" and a panel of commercial lenders including Scott Little, Mike Mitchell, Paul Mitchell and Harry Pennewell. Registration is not required.

Two Free Training Events Scheduled for August 13th

The Association will host two noteworthy training opportunities next Wednesday, August 13th at the Association office in Malvern. Starbucks Morning: Negotiating Past the Condominium or HOA Lien Through a Short Sale will take place from 9:00am-10:30am and our popular Standard Forms Forum: Revised Agreement of Sale Form Feedback will run from 11:30am-1:30pm. Separate registration is required for this events. Please click here to register (access the Event Calendar).

Offsite, Evening and Saturday Schedule Posted for Required Training Program Disclosures in Real Estate

All Suburban West REALTORS are required to complete the 2013-2014 Membership Renewal Training Requirement, Disclosures in Real Estate by December 31, 2014. The Association recently posted its full calendar of classes through October including the offsite, evening and Saturday options. Please click here for the updated calendar.

In This Issue

SWRA Relaunches Membership Dues Installment Plan

Document Filing Fees Increased

REALTOR Happy Hour Coming to the Main Line on Thursday

Association Tips: Legal & Professionalism

Broker Licensing Returns With Real Estate Investment

Two Free Training Seminars Scheduled for August 13th

Offsite, Evening and Saturday Schedule Released for Disclosures in Real Estate Course

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