New Purchase Agreement

Last week, the California Association of Realtors released a new purchase agreement. There were many changes, especially because the RPA hadn't been modified since 2002. One of the bigger changes is that the buyer is no longer required to provide a deposit check up front. They now have the option to deposit it straight into escrow within 3 days of acceptance. They also changed some of the financing terms and contingencies within the agreement. To see a copy of the new RPA and the changes that were made, visit: http://www.car.org/newsstand/news/newrpa/