Last updated: 9/15/2020
Phase 3 Guidance for REALTORS from Commerce RI
*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.
Download: RIAR COVID-19 Amendment to the Purchase and Sales Agreement
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!
Thank you for your patience during this challenging time. Please check this website often for updates. If you have further questions after reviewing this information, please email covid19@rirealtors.org.
For legal questions, please contact Monica Staaf – General Counsel at 401-432-6945 or monica@rirealtors.org.
Looking for legislative or municipal updates? Email your questions to governmentaffairs@rirealtors.org.
Thanks for all the work you are doing. I know much of it is unnoticed and behind the scenes but it’s comforting that our RIAR leaders and RIAR staff are always looking out for not only our members but our clients and communities! #RealtorStrong
Thank you for the information and best practices. they are timely and appreciated.
I want to thank RIAR leadership and committees for helping and guiding us during these difficult times. There are so many unknowns with this pandemic and you all have been on it ! Your dedication to all the members has been impressive. Thank you for addressing all of our questions and concerns in a timely manner.
Best,
Janie Aracil
Is there an RIAR sanctioned health form for buyers to fill out?
Thanks for informative & helpful fags for realtor in Covid crisis. The fast-spreading Covid-19 has created an enormous impact on real estate market. The sellers want to sell house quickly, but feel scare to let someone into their homes. The buyers are also in the same situation. Of course, this is really the hard time for all real estate agents….