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PRDS recently revised its Buyer Representation and Broker Compensation Agreement (BRBC). One of the critical changes to the BRBC was including a buyer obligation to inform their broker/agent (collectively and individually referred to as "Agents"), in writing, of the buyer's needs, wants and concerns. The specified, preferred method for buyers to provide that information is the PRDS® Buyer Needs and Wants Assessment form; however, the BRBC authorizes the Parties to use alternative means of documentation, such as emails, to convey the relevant data so as to create flexibility and to prevent a breach of contract claim if the Assessment form is not used.

PRDS has updated its Fire Hardening Defensible Space ("FHDS") form. The revised form is dated 6/2022. Unlike C.A.R., PRDS only had to make a few minor changes to better help Agents and their Clients understand the two complex state laws that necessitate use of a hybrid type of form that is both a Seller Disclosure and an Agreement between the Seller and Buyer.

PRDS has created a Comparison Chart of the December 2021 California Association of REALTORS® (C.A.R.) Real Estate Purchase Agreement (RPA) and the December 2021 PRDS Real Estate Purchase Contract (REPC) for use by SILVAR members. This Comparison Chart is for general reference purposes only; it is designed to identify where comparable concepts or provisions in the C.A.R. RPA are located in the PRDS REPC.

The Chart includes a general description of the differences, but it is not intended to be a complete list of all possible differences that may arise between the C.A.R. and PRDS contracts as a result of legal interpretations of the diverse terminology used in these forms. This Comparison Chart is also not intended to constitute legal advice, nor can it take the place of advice from a qualified California real estate attorney with respect to any specific issue or transaction. This Comparison Chart should not be used in the event that either of the forms is modified after December of 2021.

When the California Legislature added a definition of what constitutes a "fully completed" Real Estate Transfer Disclosure Statement ("TDS") for purposes of starting a Buyer's rescission/cancellation right, the statute was changed to specify that a Seller must complete both Sections I and II. PRDS has changed its TDS to match the statutory form.

We are excited to announce that effective April 16, 2019, all 49 PRDS® forms for residential sales transactions are available on zipForm for REALTOR® members of the San Mateo County Association of REALTORS® (SAMCAR) and Silicon Valley Association of REALTORS® (SILVAR) in their zipFormPlus account. The forms also remain available on the Instanet/Lone Wolf platform at www.prdsforms.com and the SAMCAR and SILVAR Web sites.

Last week, the U.S. Treasury Financial Crimes Enforcement Network (FinCEN) announced the issuance of revised Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate. Upon release of the new Order (effective Saturday, November 17, 2018), the PRDS AFGT has been updated to reflect the requirements of the new Order and is live online on PRDS on Instanet.

The Final Transition Phase of the New PRDS Forms TransactionDesk is Here. Check out a brief overview video and read more for key highlights and important things to know when moving to the new system. On February 14, you will automatically login to the new version. You can always call (800) 668-8768 for help. The help desk is trained on the new system.

The PRDS Forms Committee has taken the task to update the San Mateo-Santa Clara Advisory. The draft is the redline showing the new language and language either has been deleted or moved to another section.

The "Classic" version of InstanetForms is being replaced with the newest version of InstanetForms. Learn more about the transition with a helpful video and FAQ from Instanet Solutions.

PRDS is pleased to announce the release of the May 2013 revision of the PRDS Real Estate Purchase Contract (RDS), and is grateful for the many helpful suggestions and recommendations submitted to the Forms Committee by PRDS forms users.