ContractsWe need your help!

We are presently working on changes to the MAREP forms and would like your input! The following is a list of the changes now pending. Please email us and let us know what you think.

  1. We are updating all the form fields to be sure that the print is large enough and will be visible. All filled in information will appear in blue on all forms.

  2. We have modified the General Addendum and taken most of the provisions out of it and put them into separate forms, thereby leaving extra room in the General Addendum for information that takes more space than was previously available. We have inserted a warning into the form that says, "Insert only factural statements and business details applicable to the transaction for which there is/are no MAREP addendum, amendment or rider forms. Missouri licensees are prohibited from drafting contracts or agreements relative to a real estate transaction."

  3. The "Final Walk-Through" approval is now in the General Addendum.

  4. We have created the following new forms:

    1. Amendment to Closing Date: This allows for an extension of the closing date, consideration for the extension in the form of additional earnest money and/or a pre-release of earnest money to the seller; an agreement to close early and the partial performance language that was previously in the General Addendum;

    2. an Amendment Regarding Repairs and Improvements: This form enables the seller to agree to do certain repairs and/or improvements and to spend not more than a specific dollar amount on them. This language was formerly in the General Addendum.

    3. Assignment of Contract: This form, designed to be acknowledged and approved by the seller and signed by the buyer, contains language in which one or more of the buyers may assign all right, title and interest in and to the original Offer to Purchase and Acceptance Agreement to another party in whom title shall vest at closing. Some members have requested a form in which a buyer can transfer the contract to themselves in trust or, in some case, to another buyer entirely.

    4. Waiver of Contingency Amendment: This form contains language enabling the parties to agree on a contingency waiver and proceed to close without satisfying the original contingency.

  5. Mutual Release and Refund of Earnest Money: This form has been changed and is now called "Mutual Release and Termination of Agreement." Some members had requested a form that would allow the contract to be terminated and the earnest money paid to the seller. We have modified the mutual release form so that the parties can agree to refund the earnest money to the buyer or have it paid to the seller.

  6. Confirmation of Brokerage Disclosures: This is being re-incorporated back into the offer to purchase forms and the separate form is being eliminated, at the request of many of our members.

  7. Elimination of Agreement for Possession by Buyer Prior to Closing and Agreement for Possession by Seller After Closing forms: These forms have always been of concern to us and our legal counsel and we are considering eliminating them in lieu of the following language being inserted into the Offer to Purchase and Acceptance Agreement forms:

    1. Seller shall deliver to buyer possession of the Property in its present or required condition, ordinary wear and tear excepted: __ at closing __ according to the attached short-term lease form. Any possession by the buyer prior to closing or by the seller after closing which is not authorized by a written lease signed by Buyer and Seller shall establish a tenancy at sufferance condition between the parties. Consult your insurance agent prior to change of ownership or possession because insurance coverage may be limited or terminated. The absence of a written lease or appropriate insurance coverage may subject one or both of the parties to an economic loss.

  8. Short-Sale forms are also now ready for approval by legal counsel.

  9. A "Special Warranty Deed" form has been designed and is awaiting approval by legal counsel.

To give us your comments and/or suggestions regarding the forms, please email us at This email address is being protected from spambots. You need JavaScript enabled to view it.. If you have other changes that you would like to see or forms that you need that we don't yet have, please let us know so that we can complete them during this push to update the forms.

Thank you for taking the time to give us your opinions!

Vanessa Bjorgaard, Senior Manager

MAREP
RR 73 Box 3210 Alton, MO 65606
Phone: (417) 293-1354 • E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.