Last updated: 7/9/2020
*Disclaimer: The Rhode Island Association of REALTORS® and State-Wide Multiple Listing Service have provided information and recommendations on this page to assist you. Please check with your broker or manager to make sure that options, such as virtual showings and walkthroughs, are consistent with your company’s policies. Your office may wish to consult your company’s attorney for specialized guidance
In Rhode Island, the closing date and mortgage contingency are not “time is of the essence” and the mortgage contingency already gives a buyer the ability to have his/her deposit refunded if the seller refuses to grant an extension. Attorneys can have buyers and sellers separately sign paperwork instead of gathering in person for the closing. As long as municipal government is still accepting closing documents, the transaction can close.
UPDATED 4/8/20: On April 7, 2020, the Rhode Island Association of REALTORS® Executive Committee approved a revised COVID-19 Amendment. At the time that the original Amendment was written, town and city halls were closing, it was not clear whether critical government and business functions, such as smoke/CO inspections, title searches, closing, and inspections could take place or even whether real estate would be allowed to continue. Since so much has changed in several short weeks, the Forms Committee updated and streamlined the Amendment. The Committee also attempted to make the form more balanced based on feedback from the membership.
This voluntary form can be used with existing or new Purchase and Sales Agreements. This Amendment has been sent to Instanet, dotloop, and zipLogix.
Information REALTORS® need to know:
This page and the links below will be continually updated as information becomes available.
- COVID-19: Most Recent News & Updates
- RIAR/MLS Office/Staffing/Event & Class Cancellations
- Real Estate Specific Updates: Federal, State and Municipal Resources
- Financial Assistance for Small Businesses – PPP,etc.
- Unemployment Benefits FAQs for REALTORS
- COVID-19 Amendment to the Purchase and Sales Agreement Revised 4/7/
- RIAR Open House Advisory
- RI REALTORS Recorded Virtual Town Hall Webinars: Timely topics covered by industry experts. Watch now!