Opening paragraph, first sentence

The first sentence of the opening paragraph has been amended and now states “When signed by Buyer and Seller this is intended to be a legally binding contract and any changes must be approved in writing by all parties.”

This revision was made to emphasize the contractual requirement that any change to the original terms must be in writing and approved by all parties.

Paragraph 17

The options following the check boxes where a buyer indicates their inspection intentions have been revised as follows:
 Buyer waives the right to perform inspections under this section
 Buyer elects exercises their right to perform the following inspection(s)

These revisions were made in response to situations where a buyer selects one type of inspection (such as pest) and invites another individual into the property to perform a different or full inspection and then seeks to terminate based on issues found during the unauthorized inspection.

Paragraph 21 (NEW) – FinCEN Addition:

Paragraph 21 is now entitled “Financial Crimes Enforcement Network (FinCEN) Requirements” and states “If applicable, the parties shall provide the settlement agent with any information necessary, prior to the closing, in order to comply with the required FinCEN governmental reporting rule and related Federal law requirements intended to prevent illegal financial practices.”

This legal addition was made in response to federal reporting requirements effective March 1, 2026, obligating closing attorneys to collect information from the parties on certain transactions that do not involve a mortgage and where the buyers and sellers are entities or trusts (not individuals). Learn more about FinCEN.

The paragraphs that follow have been renumbered.