The DRE has come out with a new form as of today that is called the Coronavirus Addendum/Amendment (Form CVA).

Any reduction in the actual purchase price may mean that the current contract needs to be amended.

src=redalertCALIFORNIAASSOCIATIONOF REALTORS®CORONAVIRUS ADDENDUM/AMENDMENT(C.A.R.

Today, this morning the Senate passed it as amended, and this afternoon just a few minutes ago the house passed it with the amendment.

There has been an amendment however waiving personal guarantees for loans under $200,000

The only glimpse of hope for this program now is that hopefully more people will be eligible for the $10k grant advance with this amendment.

His office has continued to issue more amendments and guidance as time goes by.

Handle each tenant that same so there is no discrimination and keep good records of correspondenceAdding amendment to leases to defer payments as long as they have applied for SBA loanNot suggested to lower rent.

I had such statements in the contract amendment: "In the event that seller is unable to vacate by March 12, 2019, it shall pay Buyer $250/day to remain in occupancy for a maximum of 30 days, time of the essence as to this date."

NAR also signed a coalition letter(link is external) that would encourage Congress to provide readily accessible, unsecured credit to employers and self-employed individuals of all sizes to ensure they have the cash to pay their workers, rent, and other costs during this crisis:Suspend the filing of business returns and the payment of all business taxes to the federal government for the duration of the pandemic; and amend the Tax Code to, among other items, restore the ability of businesses to carryback any net operating losses against previous year tax payments;Suspend the application of the Section 163(j) limitation on interest expense deductions for tax year 2020 to avoid penalizing businesses for borrowing during this crisis; andSuspend the Section 461(l) loss limitation on pass-through businesses to allow businesses to full deduct any losses they incur this year.Essential Real Estate ServicesNAR is working with state associations, many of whom are reaching out to their Governors to request that certain real estate services be deemed “essential services” during emergency declarations.