What's New With The Regional Contract?

Regional Contract Update SeriesPresented by

Paragon Title and Escrow Company

www.paragontitle.com| (301) 986-1114

What Will be Covered:

I. Conventional Financing Addendum

II. FHA Financing Addendum

III.VA Financing Addendum

IV. Seller Financing Addendum

V. Addendum of Clauses

Conventional Financing Addendum FHA Financing Addendum VA Financing Addendum Seller Financing Addendum Addendum of Clauses

CONVENTIONAL FINANCING ADDENDUM


How to Identify the New Addendum

The Date in the bottom right corner distinguishe

s the new addendum

from the old one.


3/2012

New Additions

A New Paragraph B has been added to provide a space to include an institutional second trust when the contract is intended to be contingent upon the Buyer getting loan

approval for a first and a second mortgage.


New Additions

In Paragraph C, the letter “s” was added to the word loan to make it clear that the

financing contingency covers the First Mortgage and Second Mortgage, if

applicable.


Deletions from the Addendum

This paragraph has been deleted from the Conventional Financing

Addendum, as well as the FHA and VA Financing Addenda and has been left in the Addendum of Clauses to avoid

duplication.


FHA FINANCING ADDENDUM




s the new addendum

from the old one.

3/2012Conventional Financing

Addendum FHA Financing Addendum VA Financing Addendum Seller Financing Addendum Addendum of Clauses

The Significant Change

The Seller Subsidy portion of this paragraph has been deleted and has been left in the Addendum of Clauses to avoid

duplication.

The Seller Loan charges part of the paragraph has been retained to address loan charges that

FHA requires to be paid by the Seller.


VA FINANCING ADDENDUM




s the new addendum

from the old one.

3/2012Conventional Financing

Addendum FHA Financing Addendum VA Financing Addendum Seller Financing Addendum Addendum of Clauses

The Significant Change

The Seller Subsidy portion of this paragraph has been deleted and has been left in the

Addendum of Clauses to avoid duplication.

The Seller Loan charges part of the paragraph has been retained to address loan charges that

VA requires to be paid by the Seller.


SELLER FINANCING ADDENDUM




s the new addendum

from the old one.

Seller Financing Addendum

The Title of this Addendum has been changed

since it will only be used for

Seller Financing.

Conventional Financing Addendum

FHA Financing Addendum

VA Financing Addendum

Seller Financing Addendum Addendum of Clauses

3/2012

Deletion from the Old Addendum

With the inclusion of the Second Deed of Trust paragraph in the

Conventional Financing Addendum, this provision was deleted from this addendum. Paragraphs have been renumbered to accommodate the

change.


ADDENDUM OF CLAUSES




s the new addendum

from the old one.


3/2012

Relocation of Paragraph 12

This paragraph has been relocated from its old position of paragraph 12, to become paragraph 1. This clause may now be used in any

transaction where a closing cost credit is applicable.


New Addition to the Addendum

This is a new provision added to the Addendum of Clauses.

• Puts the parties on notice when one, or both parties wish to treat the transaction as part of a 1031 Exchange.

• Obligates the parties to cooperate with each other.

• Confirms that the “agreeing party“ will not incur any liability and/or expense.

• Grants permission to assign the contract to an exchange intermediary.


What's New With The Regional Contract?

Real Estate

rightseller financing

seller financing addendumv

va financing addenda

va financing addendumiv

fha financing addendumiii

asthe fha

fromthis addendum

seller subsidy portion