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October 18, 2004   




NEW MAR CONTRACT . . . The new 10-page MAR Residential Contract of Sale is available on the Association website (www.pgcar.com), on Zip Forms and on MAR’s website (www.mdrealtor.org). Please destroy any copies of the 2003 contact you may have in your office and use the new contract dated 10/04.

Association Council has informed us... While there are numerous revisions to the Contract Of Sale form, I am writing to advise you, in particular, of new Paragraph 34 of the current revision #9 of the Residential Contract Of Sale form. Paragraph 34 is a new notice which took effect on October 1, 2004 as the result of the enactment of the Maryland General Assembly during its 2004 Legislative Session. Paragraph 34 is a MANDATORY notice to buyer concerning the Chesapeake and Atlantic Coastal Bays Critical Area. The notice as contained in Paragraph 34 of the revised MAR Residential Contract Of Sale form is verbatim from the required statutory notice as set forth in the new law. You will also note that Paragraph 34 is in bold type, since the law requires the notice be conspicuously included in the Contract Of Sale. Paragraph 34 is now a required notice in all Contracts of Sale for the sale and purchase of all properties located in Maryland - whether residential or non-residential. This notice is mandatory for inclusion in all contracts of sale entered into on or after October 1, 2004.

ACCORDINGLY, IT IS ABSOLUTELY IMPERATIVE THAT REALTORS® NOT USE ANY PRIOR VERSION OF THE MAR RESIDENTIAL CONTRACT OF SALE FORM. THE ONLY FORM WHICH SHOULD BE USED ON OR AFTER OCTOBER 1, 2004 IS REVISION #9, REVISED AS OF 10/04. THE FAILURE TO UTILIZE THE CURRENT REVISED MAR RESIDENTIAL CONTRACT OF SALE COULD RESULT IN A VIOLATION OF THE MARYLAND REAL ESTATE LICENSE LAW AND A POSSIBLE SUSPENSION AND/OR REVOCATION OF LICENCE AND THE IMPOSITION OF A CIVIL PENALTY NOT TO EXCEED $5,000. ACCORDINGLY, IT IS RECOMMENDED THAT NOTICE TO YOUR MEMBERS BE MADE IMMEDIATELY TO ADVISE THEM OF THIS NEW REQUIREMENT AS CONTAINED IN THE REVISED MAR RESIDENTIAL CONTRACT OF SALE AND THAT MEMBERS BE WARNED AND CAUTIONED NOT TO USE ANY PRIOR VERSION OF THE MAR RESIDENTIAL CONTRACT OF SALE FORM AND THAT THE BOARD/ASSOCIATION IMMEDIATELY DESTROY THE PRIOR REVISION OF THE MAR CONTRACT OF SALE FORM AND REMOVE IT FROM THE WEB SITE OR FORMS ON DISC PROGRAMS. PLEASE GIVE THIS MATTER YOUR IMMEDIATE AND PROMPT ATTENTION GIVEN THE SEVERE CONSEQUENCES WHICH COULD RESULT FROM A FAILURE OF YOUR MEMBERS TO UTILIZE THE PROPER MAR RESIDENTIAL CONTRACT OF SALE FORM.

ANNUAL LEGISLATIVE BREAKFAST . . . PGCAR will hold its Annual Legislative Breakfast on Thursday morning, November 18th, at 8 a.m. The Breakfast will be held at the Greenbelt Marriott. Take advantage of this rare opportunity to meet with your elected officials. The invited guests include: Prince George's County State Senators and Delegates, County Executive Jack Johnson, Members of the Prince George's County Council and local Mayors. To obtain a registration form, please click here.

CELL PHONE DO NOT CALL LIST . . . As you may know, a cell phone directory will be published in the near future opening the door for unwanted calls. The Federal Trade Commission has set up a do not call list. You must call 1-888-382-1222 FROM the number you wish to register or you can go to www.donotcall.gov/default.aspx.

PGCAR ANNUAL DUES ARE NOW DUE . . . Dues payments are now due and must be paid no later than November 30th in order to avoid late charges.

ONLY 74 DAYS LEFT TO MEET THE ETHICS TRAINING REQUIREMENT . . . The countdown is on. NAR's quadrennial ethics requirement gives every member until December 31, 2004, to take an approved Code of Ethics course. Failure to satisfy this requirement shall be considered a violation of a membership duty for which REALTOR® membership shall be suspended until such time as the training is completed. NAR offers two online ethics courses at REALTOR.org that fulfill these obligations: one for new members and one for existing members. The on-line courses are available from any screen of REALTOR.org under "Popular Links".

NOTE: Classes are also being offered by PGCAR on a regular basis. Ethics Classes are offered by the Association on the following dates: November 19, December 3, December 4, and December 9. Classes are filling up fast, so be sure to make your reservations early. To obtain a registration form, please click here.

OCTOBER/NOVEMBER CONTINUING EDUCATION CLASSES . . . There is still space available in the following classes:

October 22nd - Stigmatized Properties
Instructor - Tony Kinch. 9:30 a.m. to 11:00 a.m. Association Office.
1.5 hours of MD and DC Continuing Education Credit.

October 22nd - File Documentation
Instructor - Tony Kinch. 11:15 a.m. to 12:45 p.m. Association Office.
1.5 hours of MD and DC Continuing Education Credit.

November 19th - Ethics
Instructor - Al Monshower. 9:30 a.m. to 12:30 p.m. Association Office.
3.0 hours of MD and DC Continuing Education Credit.

All classes are limited to the first 45 registrants. Registration fee for REALTORS® is $25 for 3 hours of credit, $15 for 1 ½ hour classes. A $15 late fee is charged if reservations are made less than 3 days prior to any class. NO WALK-INS. For more information call the Association office at 301-306-7900 or visit our website at www.pgcar.com.

Prince George's County Association of REALTORS®
8400 Corporate Drive  :  Suite 225 : Landover MD 20785
Phone 301-306-7900  :  Fax 301-306-8273  :  www.pgcar.com  :  ©2004, PGCAR

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