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Video instructions and help with filling out and completing Car firpta form
Instructions and Help about Car firpta form
Hi I'm Annie Fitzsimmons I'm your Washington Realtors Legal Hotline lawyer and today I want to do let's see a Phase two on a FERPA video we did the FERPA video way back in 2022 and with this video we're offering you a link back to that 2022 4 up to video because really everything that was said in that video nothing's changed except best practices in that video I told you that you should take the form 22e with seller having filled it out and signed it and attached it to every purchase and sale agreement that's wrong that's not the best way to use form 22e so in this video I want to spend a few minutes talking about the best utilization you can make a form 22e to facilitate not only buyer and seller but also escrow to get this transaction closed in conformity with federal law so watch that video and you'll know what we're talking about with respect to what the FERPA form is what it does and why it's important here's what I want you to learn as to what you need to do with that form alright starts with you listing brokers when you first meet with seller and you have seller sign the listing agreement you also pull out your form 22e your ferpa certificate and you have seller complete and sign the form 22e that form then is uploaded to the MLS as an attached document when buyer broker writes an offer on seller's property by your broker pulls that form off of the attached documents references the information on that form properly marks the FERC deprovision on buyers offer form and then takes form 22e signed by seller and puts it in buyer broker's firms transaction folder form 22e is never part of any buyers offer or any mutually executed purchase and sale agreement form 22e is a reference tool a tool that helps buyers broker know how to mark the FERPA provision are there other ways that buyer buyer broker can learn how to mark the FERPA provision sure they're in some MLS's there is a box on the MLS printout we're we're seller identifies their status under FERPA fire broker could always send an email or a text message over to listing broker asking for that information or buyer broker can always just guess can mark the box Africa box that seller is or is not a non-resident alien and then hope that listing broker and seller correct the information if it's wrong the only good approach however let me back up the most protective approach however for buyer buyers broker and escrow is for seller to fill out that form 22e first a certificate sign it attach it to the mls document as an attached document so that buyers broker and escrow can both have access to that form escrow is going to get that form from the buyers broker if they need it but so.