New Offer Form Released — Update Your Instanet Templates Immediately

Buyer’s Agents that use Instanet templates should update the residential O&A form immediately!

You may know by now that the Reno-Sparks Association of REALTORS® in cooperation with Instanet Solutions, have redesigned and released a new version of the Residential Offer and Acceptance form as of May 2015. While this is exciting news for those who have struggled with the notorious inspection page (Which is much better now in my humble opinion), there is an unintended consequence that you should be aware of: You need to update your buyer templates…like NOW!

Why you need to update your buyer templates:
If you have a template with the old O&A in it, and you apply that template to a new transaction, the old O&A form will not appear in the new transaction’s form list. It is effectively “locked” away inside the template, never to be released again. You must delete it and add the new Offer and Acceptance form.

It’s easy to do… let’s see how:

These are instructions for how to update the form in Instanet Lite — we will cover how to update forms in Instanet Pro in a later article:

1. Click on the Templates link located at the top and center of the page.

Instanet Lite home screen

2. You will see a list of templates — (If you do NOT see them, please read Make Your Life Easier…Create a Template in Instanet). Click on the name of the template you wish to change. In the example below, I’ll click on the template that I’ve previously named “Buyer Template 5/8/2015.”

list of templates

3. The old O&A form is called “Offer and Acceptance Residential (ROA) (Rev. 01/15),” and if you see it in your template, you should remove it. To remove, click the check box to the left of the form and use the “I would like to” menu to select  “Delete Selected Forms.” Now click the blue arrow.

delete selected forms OandA

4. You will see an alarming pop-up window that says “Warning! All information will be permanently deleted. Are you sure you want to continue?” Click the OK button on this window to delete the old O&A form. It’s not that scary…

all info will be perm deleted

5. The old O&A form will now be gone from your template form list.

old OandA gone

6. Now, the exciting part; adding the new and improved O&A. Make sure the “I would like to” menu says “Add New Form” then click the blue arrow.

i would like to add a new form

7. The “Add Forms” list will appear. Use the grey scroll bar to scroll down to the bottom of the form list and single-click the form called “Offer and Acceptance Residential (ROA) (Rev. 05/15).” Are you seeing a pattern? The old form’s revision date is 01/15, (January 2015), and the new form’s revision date is 05/15, (May 2015). Now single-click the blue “Add Selected Forms” button at the bottom of the page, (Don’t click the “X” because the form won’t be added).

picking the new O&A

8. The new O & A form will appear in the template form list. You could be finished here and stop reading, but your new O&A is probably at the bottom of the list like it is in the screenshot example. You’ll likely want to reorder your form list so the new O&A form is higher in your list — (Your forms go into your transactions in the same order they appear in your templates). You may want to partially fill the form out because anything in the old O&A form that you deleted was lost and must be retyped.

Let’s see those steps now:

a. Click the green arrows to change the numbers in the “Order” column then click the blue “Update Order” button.

reorder forms

 i. Your form list will be reordered. In the example, I’ve placed my O&A in the #2 position. But you can place your O&A in whichever position best meets your needs.

reordered forms

 b. Now you can fill out your O&A form with any details that don’t change often from transaction to transaction, except for your name, your details, your brokerage’s name and details and your broker’s name and details. If you add yourself, your broker or your brokerage to your templates you run the risk of creating duplicates of those names and details when you apply your template to a transaction.

i. Here are some common examples of fields that are filled in for a templated O&A form that I’ve seen while teaching agents how to use this software. *Nothing in the following examples should be construed as instruction on how to legally fill out a Real Estate form or contract. This author is not a Real Estate licensee.

Here’s and example of the top of page 1 of the O&A:

top page 1 oanda

…and the middle of page 1 of the O&A:

middle page 1 oanda

…and the middle of page 3 of the O&A:

middle page 3 oanda

…and the middle of the ever-popular page 4 of the O&A in the new state:

middle page 4 oanda

Now you’re ready to apply your new template! If you don’t know how, please read the article mentioned earlier called,Make Your Life Easier…Create a Template in Instanet for instructions. If you you’re wondering what actual changes were made to the Residential Offer and Acceptance form please contact the Reno-Sparks Association of REALTORS at (775) 823-8800 or info@rsar.net.

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