July 2022 – Summary of July 2022 Auction Forms Changes
The auction forms listed below have been revised effective July 1, 2022. Copies of a form may be viewed by clicking on the name of the form immediately preceding the summary of that form.
(1) Exclusive Right to Sell Listing Agreement (Auction Sales) (form 601)
(2) Guidelines for Completing the Exclusive Right to Sell Listing Agreement (Auction Sales) (form 601G)
(3) Multi-Parcel Addendum To Exclusive Right To Sell Listing Agreement (Auction Sales) (Form 602)
(4) Dual Agency Addendum (Auction Sales) (form 603)
(5) Real Property Auction Purchase and Sale Contract (form 620-T)
(6) Guidelines for Completing the Real Property Auction Purchase and Sale Contract (form 620G)
Form 601, Form 603, and Form 620-T. The primary purpose of the recommended changes to Forms 601, 603, and 620-T is to incorporate into them corresponding changes previously made to other NCR forms where appropriate, such as the Exclusive Right to Sell listing Agreement and Offer to Purchase and Contract.
Form 602. The changes to the Multi-Parcel Addendum correspond to changes made to Form 601. In addition, minor changes to the format of the form are being changed to facilitate the addition of multiple pages to the Addendum when more than two parcels are being listed.
The new and revised forms have been provided to NCR’s approved forms software vendor and to members who have forms licensing agreements with NCR, and will be updated on the NCR web site in late June. Permitted users of the forms will have 60 days following their effective date to transition to the new versions. Therefore, old versions should not be used in transactions taking place after the end of August 2022.
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