Listen Here: Changes to Residential Agreement to Buy/Sell
LOUISIANA REALTORS • November 7, 2018
The process for making changes and updates to the Residential Agreement to Buy/Sell
is a joint effort between Louisiana REALTORS and the Louisiana Real Estate Commission. As 2019 approaches, real estate licensees and practitioners will see some changes and updates to the form that resulted from over 200 comments and ideas sent to the workgroup for deliberation.
In the below video, Commissioner Rick Roberts reviews the various lines and changes and many will see the same items being discussed throughout the 2019 Mandatory CE topic: LREC Updates & Addenda
prepared by Burk Baker and Anna B. Trimble, Esq.
The 2019 course material will cover the following:
I. Section One: Updates to the Louisiana Residential Agreement to Buy or Sell
II. Section Two: In-Depth Portions
a. Financing
b. Inspection Period
c. Curative Work and Merchantable Title
III. Section Three: Addenda
a. LREC Property Disclosures
b. Buyer Agency Agreement
c. Condominium Agreement
d. Contingency Agreement
e. Flood Insurance Purchase Requirement Addendum
f. New Construction Addendum
g. Notice of Ministerial Acts
h. One Time Listing with Representation
i. One Time Showing Without Representation
j. Right of First Refusal Addendum
IV. Section Four: MyLREC Portal
a. Portal Features
b. How to access
c. User ID and password lookup
d. Auto forwarding your MyLREC Email
Should you have questions or need clarification on any items covered in the recording, please contact us by emailing info@larealtors.org, or clicking the button below.
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Want Your Teen to Own a Home Someday? Start Talking Money Now Teens may not be thinking about mortgage rates or down payments just yet, but the money habits they’re building now can follow them for years. And 88% of teens surveyed by Fannie Mae and Junior Achievement said they want to own a home someday. This week’s Consumer Guide: Talk to Your Teens About Money and Homeownership makes those conversations a little easier, covering everything from credit scores and budgeting to debt, renting versus owning and saving for that eventual down payment. So yes, you may have to interrupt the doomscrolling. But helping teens get smarter about money today could put them in a much better position to get the keys to a home of their own down the road. Download all of NAR’s Consumer Guides in English or Spanish at facts.realtor. For ease of reference, below is a list of the most recent guides: NEW: Teen Financial Literacy Fraud Red Flags Helping Family Members Become Homeowners Prepare Your Home for Hurricane Season Condominium Insurance Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their home buying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. The next Consumer Guide, scheduled for publication on Oct. 21, will cover winter cold and storm preparedness.
Homeownership Is on Louisiana's November Ballot
After months of gathering recipes from across our Louisiana REALTORS® family, the cookbook is ready! This 200+ page collection is filled with Louisiana flavor, REALTOR® heart and recipes contributed by our members. We launched sales of the cookbook at the Fall Governance Meetings. You can now purchase your copy for $30 directly from the printer and shipped to you! Additionally, we will have copies available at the RRF booth at NXT . After NXT, we will carry a limited stock at the LR office for you to purchase through the LR Merch Shop and pick-up from the office or at an LR event, as stock is available. Even better, $15 from every cookbook sold will be donated to the REALTORS® Relief Foundation (RRF) to help provide housing-related assistance to REALTORS® and their families following disasters. Pick up a copy for yourself, grab one as a gift and enjoy a taste of Louisiana while supporting a great cause!
