News Bulletin - January 2, 2019

Watermarked Version of Forms
Mandatory Usage of Buyer Customer Status Acknowledgement (Form 110)
Audit Program in Effect

IMPORTANT NOTICE: Audit and record keeping policies have been updated as of January 2025. This news bulletin references outdated content, in accordance with the version in effect at time. For current information on audits, click HERE.

Watermarked Version of Forms
As stated in the Commission's last bulletin sent on December 21, 2018, the Board of Directors approved five new construction forms. In addition, revisions have been made to seven other forms that are currently in circulation.
The button below links to all 12 watermarked forms. The official implementation date for all of the forms will be February 4, 2019.

Mandatory Usage of Buyer Customer Status Acknowledgement (Form 110)

The Board of Directors mandated the use of the Buyer Customer Status Acknowledgement, effective February 4, 2019. Before an Agreement of Purchase and Sale is prepared, licensees must have all buyer customers complete this form. For all accepted Agreement of Purchase and Sales closing after February 4, 2019, the Commission recommends, and it is best practice, to have customers sign the form.

IMPORTANT: If a customer refuses to sign the Buyer Customer Status Acknowledgement form, complete the following steps:
1. Email the customer and acknowledge their refusal to sign the Buyer Customer Status Acknowledgement form;
2. Explain they will still be treated as a customer and outline what services you will provide; and
3. Maintain a copy of the email in the transaction file.

Audit Program in Effect
This is a reminder the audit program is in effect as of yesterday, January 1, 2019.
View the Audit Guide HERE