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Indiana Association of REALTORS® header.

March 27, 2020

From NAR: What the $2T Federal Stimulus Package Means for You

The link above details the major provisions of interest to REALTORS® and their clients. The legislation now awaits the President’s signature.

Dear IAR Member,

Last week, we shared protective language to deal with future delays or possible contract cancellations related to COVID-19. We originally suggested you use this language in Further Conditions of the Purchase Agreement or in an Addendum/Amendment or other applicable legal form for transactions already in progress. You may still do that. But, we’re happy to report this language is now available in your zipForm® Plus account as an Addendum/Amendment (Form #61). We’ve also provided the form to DocuSign® and Dotloop. We hope that by keeping Indiana REALTORS® on the same page that we can bring certainty to local markets.

COVID-19 Addendum/Amendment to Purchase Agreement

Remember: IAR forms are for use only by IAR members.

Listing Contracts

Today, we’re sharing more new language – this time for use with listings. It provides hold harmless language for our members and notification requirements if the seller or a resident is exposed. The following form (Form #62) will soon be available in your zipForm®, DocuSign®, and Dotloop accounts.

COVID-19 Addendum/Amendment to Listing Contract

Remember: IAR forms are for use only by IAR members.

Disclosure and Waiver

We’ve also prepared a third new form. This one is for use with showings and inspections. It provides risk reduction for members when visiting parties – such as an inspector or potential buyer – enter the property. We’re still deciding whether to make this form available in your zipForm®, DocuSign®, and Dotloop accounts.

COVID-19 Disclosure and Waiver Prior to Physical Showing or Inspection

Remember: IAR forms are for use only by IAR members.

Questions

Our attorneys have put together a Q&A on the new language/forms, attendance at closing, real estate as an essential service, disclosure, and fair housing issues. Check it out.

IAR Legal Hotline Q&A re: COVID-19

Our attorneys are happy to talk through the documents above or answer other real estate-related questions. Ask your Managing Broker to call or authorize you to call the IAR Legal Hotline.

1-800-444-5472
Monday – Friday | 9am – 5pm ET

Calls are answered in the order they are received, always by phone, and within 24 hours.

Electronic Notary

We’re three to four weeks out – that’s the word today from Indiana Secretary of State Connie Lawson’s office re: the availability of remote online notarization (RON). The office also shared the following two documents.

How To: Become a Remote Notary in Indiana

Remote Notary Application

As a reminder, Indiana was one of the first states to enact legislation to allow for RON, however, the effective date was not until July 1, 2020. IAR worked with industry partners to encourage the Governor to move up the effective date so closings could still happen during the COVID-19 pandemic and calls for social distancing. He’s clearly doing that as quickly as possible. NAR has also made RON a priority and is pushing for federal legislation to allow for it to be used in every state.

Transaction Guidance

We’ve been eagerly awaiting this publication from NAR. It provides general guidance on listed properties (including showings and open houses), properties in escrow, and leased properties. Members should use this info in consultation with their Managing Brokers, legal counsel, listing service(s), and local public health officials.

NAR Transaction Guidance During COVID-19

Sample Preparedness Plan

We shared this NAR resource with you previously, but it’s been updated with action to take if someone has been exposed to COVID-19, but not showing symptoms. It’s a helpful read.

NAR Sample Preparedness Plan During COVID-19

License Renewal Deadline & Online Course Discounts

The Indiana Professional Licensing Agency/Indiana Real Estate Commission now tells us to expect the license renewal process to open on or around April 1st. They also reaffirm the deadline remains June 30, 2020. That’s because you may complete all continuing and post-licensing education online.

Social distancing = a good time to complete your educational requirements. IAR’s school, RECP, is giving discounts on our online courses through April 15th.

$59 12-Hour Continuing Education Package

$210 30-Hour Post-Licensing Course

Here’s our February 12th email with general licensing/CE info. Here’s our March 2nd email with info especially for newly licensed brokers.

Call RECP at 1-800-742-4067 if you need help registering or logging in. You can also email.

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