the far/bar “as is” contract and the far/bar standard contract are streamlined and comprehensive. “as is” means the property is sold in its current state without any repairs. under the standard contract, the seller is obligated to repair limit if the cost to repair exceeds the repair of limit. the buyer can basically elect to have the seller certain defective items up to the repair limit. in addition, a seller can also obtain a second inspection if the seller disagrees with the buyer’s inspection report. under the “as is” contract, the seller is not obligated to make any repairs. in other words, the buyer can either have a mold inspection or a pool inspection.

the as is contract, residential contract and seven riders were updated, and three new riders were created. the update gives members time familiarize themselves with the changes and goes into effect on nov. 1, 2021.