Special Forms Update: September 15, 2018 Form Changes

• • Matthew L. Troiani
• August 30, 2018

Effective September 15, 2018, the NVAR Board of Directors has approved the following forms changes, as proposed by NVAR’s Standard Forms Committee. To view the Educational Version of the form, please click on the form title.

K1360 – Private Well and/or Septic Inspection Contingency Addendum:

This form was revised to again permit the parties to designate either the Buyer or Seller as the responsible party for the Septic Inspection. The form was also revised to create additional protections for the Buyer in the event the Seller is responsible for the Septic Inspection but fails to perform the Septic Inspection or make timely delivery of the Septic Inspection Report. Some of the terminology was updated to coincide with regulatory standards. The revised form allows the parties to mutually identify the Septic Inspector during contract negotiations. Finally, the revisions clarify Seller’s responsibility to remove impediments to the Septic Inspection.