Question: Discussion Chapter 1 0 A * * * The recent events surround the spread of the COVID - 1 9 strain of the coronavirus has
Discussion Chapter
The recent events surround the spread of the COVID strain of the coronavirus has led to any questions about the continued enforceability of real estate contracts under the circumstances. Rather than risk an uncertain outcome in court or arbitration over such disputes, Buyers and Sellers may elect to address the unanswered issues contractually. The California Association of Realtors has developed a form that allows parties to agree on a way forward for existing contracts and address potential issues in contracts that have not yet been formed.
Assume you have a sale in escrow right now. How should existing contracts be handled under these circumstances, when inspections may not be completed on time or at all? Would you advise your client to sign the addendum below? Why or why not?
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