The COVID-19 Virus, or Coronavirus, has been declared a worldwide pandemic. Governor Kim Reynolds has also declared a State of Public Health Disaster Emergency. This has led to closure of restaurants, bars, theaters, and many types of gatherings of 10 or more people. Many businesses and industries have had large scale and unprecedented issues that have arisen due to COVID-19, and the real estate industry is no exception.
REALTORS® across the Country are facing transactional issues where parties are not able to perform within the time frames originally contemplated, due to this unprecedented situation. The sweeping response by local, state, and national leaders to COVID-19 are beginning to cause, and have potential to cause, settlement service providers central to the transaction to be unable to meet their obligations due to COVID-19, which can cause a party to be unable to meet their contractual obligations.
Iowa REALTORS® have created and copyrighted a new form on Form Simplicity, called “Iowa REALTORS® COVID-19 Addendum/Amendment.” This is an IAR approved form that is available for members. This form allows all deadlines to be extended due to a COVID-19 Reason, which may include, but is not limited to inspection deadlines, other contingency deadlines, and closing dates. This form is not mandated to be used and is simply a form available for use on Form Simplicity. Please contact the IAR Legal Hotline for any questions about IAR standard forms by emailing email@example.com. As always, it is a good practice to consult with your own legal counsel and broker before incorporating the use of this form.
How to Access This Form
- Click on Blank Forms on the top menu bar.
- In the upper right section near the magnifying glass, type in "covid" to find this new addendum/amendment
- Click on COVID-19 Addendum_Amendment
For further help, please contact Form Simplicity Tech Support: 877-808-6504