The contract to purchase the PRDS contains a specific language in which it is said that there is no agreement between the parties on the distribution of costs related to structural pest control issues. The CAR form does not have this language. The sales contract because has a special form that allows both parties to send a written request to the directors in order to provide them with the deposit. If the other party does not intervene within 10 days against the debt, the agent can distribute the funds. The CAR agreement requires the arbitrator to be a lawyer, unless the parties decide otherwise. Paragraph 26.B the agreement because it requires the arbitrator to be a retired judge or lawyer with at least 5 years of transactional real estate experience, unless the parties agree with each other and give the right to discover. This provision is better than the AIR agreement, which requires a broker and not a real estate lawyer. Paragraph 26.B. states in part: «The arbitrator is a retired judge or judge or a lawyer with at least 5 years of experience in real estate transaction law, unless the parties agree with another arbitrator.» The AIR agreement requires arbitration under the Commercial Rules of the American Arbitration Association, requires the forfeiture of many normal rights in litigation, and requires that each arbitrator be an impartial real estate agent with at least 5 years of full-time experience, both in the area in which the property is located and in the nature of the real estate involved. Personally, I do not want a non-lawyer (or non-judge) to make a final decision that cannot be challenged. That is why I propose to the parties not to approve the arbitration provision as set out in the AIR agreement. Click on the following sliding panels to see the many differences between the use of prDS and CAR sales contracts with disclosures. The agreement because the goods must be delivered at 6 p.m.
The sale contract because deals with the conclusion of the trust in the first paragraph, and the standard closing date is a specific date. CAR is always favourable to buyers. I like paragraph 25 because it states that a clause added by a broker (or a seller who knows all the lawyers) who is trying to change the intent of the CAR form is non-effective.