Purchase Agreements
What section of the RPA discloses each brokerage representing each side of the transaction (buyer/seller)
What is Section 2A
How long is a BRBC valid for if the buyer is not a corporation, LLC or partnership?
What is 90 Days
What is Dual Agency?
The Seller agrees to provide this regarding known material facts about the property
what are disclosures
At what point should an agent determine how title is held on a listing, and who is signing for any entities
What is before signing the listing agreement
These two forms were removed from the RPA package in June 2026 and now are either built into the RPA or conform to single side documents only.
What is the PRBS & FRR-PA
This type of agreement allows the buyer to work with only one broker
What is an exclusive representation agreement?
This agency relationship occurs when one brokerage represents both buyer and seller in the same transaction
What is Dual Agency
Even if the property is being sold "as is" the seller must still do this
what is disclose known material facts
When should ALL statutory disclosures be provided?
what is within the contractual timeline of the residential purchase agreement (usually within 7 days of opening escrow)
What contingency CANNOT be used if the buyer is unable to obtain insurance
What is the loan contingency
This section identifies the type of property and geographic area covered by the BRBC
what is Section B- Scope of Representation
The seller authorizes the broker to place the property into this marketing platform
What is the MLS
This Disclosure identifies whether the property is in designated hazard zones
what is the NHD
If escrow cancels and material facts are discovered during the escrow, pre cancellation, what are the sellers next steps with that information?
What is updating the property disclosures to reflect any conditions exposed during the escrow before cancellation.
What form is required to be prepared with the offer/counter offers when the seller has a contingency for finding and/or closing on a replacement property?
What is the SPRP
This is the maximum compensation the buyers broker may receive, regardless of the source
what is the amount stated in the BRBC (section E(1) 4B)
who owns the listing agreement?
What form is used to add, delete or completely change a buyer on the contract
what is the AOAA
What must be completed within the 5 days before closing
what is buyers final verification of property *waiving is not recommended by broker*
What two forms are required now as of June 16 2026 if the property houses any of the following: Well, Septic System, Propane Tank. But also is used for vacant land as well?
What is the SWPI-C and the SWPI-Q
This federal antitrust settlement prompted widespread changes to buyer representation agreements nationwide
What is the NAR Settlement (Sitzer Burnett v NAR)
During this period the seller cannot generally list the property with another broker without potentially breaching the agreement
what is the listing period
What new change occurred on the SPQ as of June 2026 regarding tenant occupied units?
What is the requirement to provide photos if the seller indicates that the property is tenant occupied
This is not typically recommended because it may expose the buyer to significant legal and financial risk and may be contrary to broker advice
What is removing all contingencies with an offer