The answer is no, your license renewal deadline remains June 30, 2020. That’s because the 60-day license extension announced by Governor Holcomb only applies to licenses that expire within the time period of his executive order (now – April 20, 2020).
IAR has put together a document you can carry as you travel. This is not a legal document. We intend it as a communications piece to help ease concerns you may encounter. Proof of Real Estate as an Essential Service
Yes, your clients may travel. That’s because of the phrase “access to” in number 16, section A – Any travel that is related to the provision of, or access to, Essential Activities, Essential Governmental Functions, Essential Businesses and Operations, or Minimum Basic Operations.
Go to http://FindHelp.org for free and reduced-cost services in every city in America. Highlighting hundreds of programs designed to help.
I have seen other language out there floating around for COVID-19 related delays; can I use this language instead of, or in addition to, the suggested language?
It is important to have statewide standardization and uniformity in these difficult times to help with the interpretation of said language and the comfort levels of our members in preparing for a COVID-19 related transactional delay. There is no perfect language as these are not perfect times. They all accomplish the same purpose.
The COVID-19 contract delay language states that the Earnest Money is returned to the Buyer after the automatic extension expires if the parties are unable to close the transaction. Is that fair?
Yes. This return to Buyer of the Earnest Money will only apply if the contract fails to close due to COVID-19 related issues. The failure to close is not due to the fault of the buyer (or seller) as circumstances are outside of their control.
Yes. In dealing with future delays or possible contract cancellations, we suggest the following language be used in the Further Conditions of the Purchase Agreement: Notwithstanding any other provisions of this Agreement, the parties agree and acknowledge that in the event either the Buyer, Buyer’s lender, Seller, any of their respective service providers, government agency
In Indiana, 876 IAC 8-2-4 requires broker attendance at closing. However, there is an exception that if your client does not attend, then the broker does not have to attend. Remote closings for your client, or requests not to appear in person, may lend itself to falling within this exception.If you are not able to
May I ask clients or others I interact with in my real estate business if they have traveled recently, or have any signs of respiratory illness?
Yes, you may ask clients or others about their recent travel, particularly to areas identified as having an increased risk of coronavirus. To avoid potential fair housing issues, be sure to ask all clients the same screening questions based on current, factual information from public health authorities.
Public health advice is continuing to evolve. As of March 17, 2020, Gov. Eric Holcomb ordered recomendations to slow the spread of Covid-19 including delaying all “non-essential” public meetings and took further unprecedented actions on March 19, 2020 to protect and support Hoosiers during the COVID-19 outbreak by signing executive orders that extend the closure