Standard Form "AS IS" Contract Fraudulently Claims to be C.A.R. Approved

Submitted by isabel on Tue, 02/02/2010 - 9:22am

Members have reported that certain investor buyers use a standard form “As-Is Contract for Sale and Purchase” which fraudulently purports to be approved by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). This standard form agreement has been used by Greenhills Financial Investment, LLC, among others. C.A.R.’s Legal Department is vigilantly pursuing this matter, which includes issuing cease-and-desist letters against anyone using the form.

The “As-Is Contract for Sale and Purchase” form, which is referenced at the bottom as “FAR/BAR AS IS,” has apparently been patterned after Florida Association of REALTORS®’s purchase agreement. In any event, the form purports to be approved by C.A.R., when in fact, C.A.R. has not reviewed or approved the form, and C.A.R. has no business affiliation whatsoever with Greenhills Financial Investment or the form’s publisher. C.A.R. currently has no standard form with the words, “As Is,” in the title.
REALTORS® who come across the form are encouraged to report the matter to C.A.R. by contacting our Strategic Defense Counsel, Nicole Briggs, at nicoleb@car.org.