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Your firsttuesday real estate news
Week of October 18, 2021

Form-of-the-Week: Escrow Instructions and Sales Escrow Worksheet
Use RPI Forms 401 and 403 to prepare instructions for opening escrow.

Brokerage Reminder: RPI’s Purchase Agreement
The DRE reminds licensees to present all offers received, regardless of the form used.

Mortgage Concepts: Is it a Section 32 loan?
This Mortgage Concepts video reviews Section 32 loan features, coverage tests and disclosures.

New law requires implicit bias training for real estate professionals
California assigns real estate applicants and licensees extra homework.

Tight zoning and low inventory fuel wildfire risk
These conditions incentivize builders to develop in hazardous, fire-prone areas.

California’s assembly line housing
The Golden State's housing factories are a step toward easing its severe housing shortage.

Multi-family conversions skyrocket
A record-breaking 20,100 multi-family conversions took place in 2021.

Riverside housing indicators
As of Q2 2021, year-to-date home sales volume is a significant 40% above a year earlier.

Current market rates
The average 30-year fixed rate mortgage increased in the week ending October 15, 2021 to 3.05%.

Form udpates  RPI Form Updates

— Form 575: Three-Day Notice to Pay Rent or Quit, with rent-related fees

— Form 575-1: Three-Day Notice to Pay Rent or Quit, without rent-related fees

— Form 575-2: Three-Day Notice to Pay Rent with rent-related fees, for properties subject to just cause eviction requirements

— Form 575-3: Three-Day Notice to Pay Rent, for properties subject to just cause eviction requirements

NEW Form 575-4: Notice of COVID-19 Window Period Rent Assistance, for defaults on amounts from October 1st, 2021 through March 31st, 2022


To access all updated forms, view our RPI Forms library here.
Click on Download the Full Forms Library to download our entire catalog.


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