Last revised 12/31/17

For use by a REALTOR^® managing rental property on behalf of an owner. The form provides for fees for management and leasing and a termination fee on the sale of the property.

Last revised 12/31/15

Establishes a REALTOR^® as an agent of the owner of rental property for the purpose of finding a renter. The parties have the option to establish their relationship as either an exclusive and sole agent with exclusive right to lease, or an exclusive agency. The property data information form (MSC-1020) is intended to be attached to the back of the form.

Last revised 12/31/15

Transaction brokerage version of MSC-1010.

Last Revised 12/31/17

For use by a REALTOR^® to gather data about the property when taking a listing. The information may be used by the multiple listing service or cooperating brokers.

Last Revised 12/31/15

This form should be completed for any listing where the Owner does not want the Property and/or its address to be advertised on the Internet.

Last Revised 10/3/17

To be used when the sale of an Owner’s Property will not generate sufficient proceeds to pay in full all outstanding mortgages and/or other lien(s) secured by the Property and will require the written approval of all such lien holder(s). The form authorizes the listing REALTOR^® to advertise the Property as a “short sale” or pre- foreclosure property. (See also MSC-1026 and MSC-2015.) "Short Sale" Explanation and Considerations.

Last Revised 12/31/15

This form is to be completed and signed by all Owners of a Property who are willing to authorize a lender to disclose and discuss confidential account information regarding the Owner’s loan status and related financial information to and with the agent(s) and broker identified therein, and any title company or escrow agent who may participate in the closing of the sale. Such authorization will be particularly necessary in connection with any “short sale” transaction.

Last Revised 12/31/15

Allows the Owner of property to amend a listing agreement by changing the listed price, extending the listing agreement, or making other specified changes.

Last Revised 12/31/15

Allows the parties to a buyer or tenant agency/brokerage relationship agreement to modify the terms thereof, including but not limited to changing the type of property to be acquired or the duration of the term thereof (including termination, although it does not include a release of any claims by either party).

Last Revised 12/31/15

Terminates a listing agreement between the REALTOR^® and Owner of property, either immediately or as of an Effective Date, as referred to in the agreement. It does not contain a release of any claims by either party.

Last Revised 12/31/15

Establishes an exclusive agency between a REALTOR^® and a buyer identified therein. The form allows a Buyer to pay REALTOR^® a “Flat Fee” component (which may be contingent or not), in addition to, a commission percentage or specific dollar amount if the Buyer enters into a contract to acquire the type of property described (and REALTOR^® is unable to collect a commission from the seller or listing broker), or both types of compensation. MSC-1080 Instructions.

Last Revised 12/31/15

Transaction brokerage version of MSC-1080.
View instructions in the 2016 Forms Instruction Manual

Last Revised 12/31/15

Similar to MSC-1080, but establishes a non-exclusive (“open”) agency relationship.

Last Revised 12/31/15

Transaction brokerage version of MSC-1085.

Last Revised 12/31/15

Establishes an exclusive agency between a REALTOR^® and a prospective tenant. The tenant must pay the REALTOR^® a commission if a lease is entered into by the tenant during the term.

Last Revised 12/31/15

Transaction brokerage version of MSC-1090.

Last Revised 12/31/15

Authorizes a REALTOR^® to show property for a period not to exceed 30 days. It is to be used when the property is not listed and the owner is not willing to list the property or place it on the market generally, but would consider an offer to buy or lease and is willing to pay a commission. This is not an exclusive listing and the owner is free to deal with other brokers or persons who have not been introduced to the property by the broker named in the agreement. This form does not contemplate cooperating with another broker, or permit advertising or placing signs on the property. 
View instructions in the 2016 Forms Instruction Manual

Last Revised 12/31/16

This is an amendment to a sale contract. The parties named in the Contract may amend the date(s) originally set forth therein for obtaining a loan, for closing, for possession or for any other stated contingency.

Last Revised 12/31/16

For use as an addendum to RES-2000, LND-2000, FRM-2000 or COM-2000 when the Contract is to be conditioned upon the buyer’s ability to obtain financing (other than conventional financing, which should be addressed in the main Contract of each of the RES, LND, FRM and COM series forms). Note; this form is generally not applicable to COM-2000 unless a government sponsored loan is involved (See Subpart C of Rider A). It also allows for special additional financing terms to be established. The applicable paragraph(s) should be filled out, since different types of financing call for different contingency language to be attached to this form. For example, when the sale contract is conditioned on the buyer’s obtaining an FHA loan, FHA revised form HUD-92564-CN, which includes statements regarding home inspections, appraisals and radon testing, is to be attached. 
View instructions in the 2016 Forms Instruction Manual

The “Financing” section (§5) of the Association’s form sale contracts (RES, FRM, LND and COM-2000) provide in part that if a Buyer is unable to obtain a loan on or before the Loan Condition Deadline (and doesn’t have a rejection letter from the lender in hand), that a Buyer can submit a notarized affidavit to that effect (in order to exercise the financing condition and terminate the Contract). MSC-2010A was designed to be used for this purpose (where the Buyer is an individual).

MSC-2010B: Non-Individual Buyer’s Financing Contingency Affidavit: Effective 12/31/16
This alternate form is made available for use in situation where the Buyer is NOT an individual (e.g., if Buyer is a LLC or other entity). An appropriate form of notary jurat must be added. (see e.g., MSC-5000-5060).

Following adoption of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), Sellers originating a ‘closed-end consumer transaction secured by a dwelling’ (meaning almost all residential loans) must be registered and/or licensed as a mortgage loan originator (or face steep fines and penalties) unless exempt. The exemptions are narrow and limited. There is a “1 Property” exemption and a “3 Property” exemption. Their requirements differ and their permitted applications are not always clear. This form attempts to briefly explain these requirements and potential exemptions. It should be provided to both parties in any transaction involving Seller-financing (or any other non-licensed lender or loan originator) and they should be specifically advised to consult with private counsel for any explanation of applicable legal rights and obligations. You should also never charge a separate fee for providing any services in connection with a seller-financed transaction. Additional information regarding loan originator requirements can be found on the NAR website. MSC-2015: Short Sale Rider: Last revised 12/31/12.

For use as an exhibit to RES-2000, LND-2000, FRM-2000 or COM-2000 when a Contract is to be conditioned upon the approval of the Seller’s lender(s) to accept less than full payment of the mortgage or other secured lien held by it (in exchange for a release of the same). Paragraph 4 calls for delayed commencement of the Buyer’s due diligence time periods to obtain financing, review title and survey, and conduct inspections until the lien holder(s) provide a written “Notice of Acceptance,” and establishes an “Approval Deadline” by which such must be provided.

Last revised 10/3/17

This Rider is intended for use as an exhibit to RES-2000, LND-2000, FRM-2000 or COM-2000 when the Contract is to be conditional upon the approval of the Seller’s lender(s) to accept less than full payment of the mortgage or other secured lien held by it in exchange for a release of the same. Optional paragraph 4 allows for commencement of the Buyer’s due diligence time periods to obtain financing, review title and survey, and conduct inspections until the lien holder(s) provide a written “Notice of Acceptance,” and also to establish an “Approval Deadline” by which such must be provided.

Last revised 12/31/13

For use as an addendum to RES-2000, LND-2000, FRM-2000 or COM-2000 when the contract is to be conditioned upon the sale of the buyer’s existing property, termination of the seller’s prior sale contract (i.e., a backup contract), an appraisal inspection, or review of farm programs.
View instructions in the 2016 Forms Instruction Manual

Effective 1/1/14

Limited warranty/service plan agreements may be available for purchase and can be useful in resolving disputes between parties regarding the condition of a Property following its inspection. This new form is made available for such purpose. Responsibility for payment of its cost (and the particulars of any such plan) should be negotiated between the parties and documented in writing if any such warranty or service agreement is to be obtained. MSC-2025 can also be attached as part of an offer (before the Contract is executed) or used to confirm that the right to purchase a plan has been waived by a buyer.

Last revised 12/31/13

For use as an addendum to a sale contract (e.g., RES-2000, COM-2000, FRM- 2000 or LND-2000) where the parties (only) wish to have disputes relating to the physical condition of the real property, including claims of fraud, misrepresentation, warranty and negligence, to be settled by Small Claims Court action, voluntary mediation or binding arbitration according to the Construction Industry Rules of the American Arbitration Association. It does not provide for brokers to submit to such alternate dispute resolution procedures. 
View instructions in the 2016 Forms Instruction Manual

Last Revised 12/31/15

This form is to be used in conjunction with sale contract for residential rental properties. Seller agrees to furnish buyer with rental/leasing documents, send notification to tenants, and assign leases to buyer. Also allows Buyer to inspect units of the propety not previously seen by a certain date.

Last Revised 10/17/17

This form is to be used as a counter offer to a sale contract (RES-2000, LND-2000, FRM-2000 or COM-2000) or prior counter offer. That is, a changed version of the offer previously submitted. The counter offer must be accepted by a specified time or it is considered withdrawn. A new form should be used for each counter offer submitted. Until a counter offer is accepted by a Counter-Offeree, it may be withdrawn by the Counter-Offeror.
View instructions in the 2016 Forms Instruction Manual

Last Revised 12/31/15

MREC regulations require a real estate broker to review a closing statement to verify accuracy and make sure it contains all material financial aspects of a transaction. Under TRID, many lenders will be hesitant to share the new Closing Disclosure form with anyone but their client/borrower. In attempt to facilitate your ability to get a Closing Disclosure form directly from a lender or other settlement service provider, this one (1) page “stand alone” form provides for the parties’ express written consent to allow you to get a Closing Disclosure Form (and any other TRID documents) directly from any of the closing service providers identified (and their representatives). Learn more by watching this Keeping it Legal video.