A winning game plan in your real estate transaction starts with understanding the fundamentals, such as:

Most Misunderstood Rule of the Playbook:
Hard money falls under financing, not cash
Stick to the Play:
The purchaser may not change their loan type without seller's consent 
Stay Disciplined:
The purchaser must comply with all terms agreed upon in Paragraph 4
Don't Run Out the Clock:
Buyers must have loan approval in hand before 5PM on closing day 

Paragraph 4 contains several important parameters that can significantly impact the outcome of a real estate transaction. A closer look at these highlights can help you better understand the financing requirements that may affect your transactions. 

A common misconception in real estate transactions is that hard money is the same as cash. Hard money should be identified as a type of financing in Paragraph 4 of the CVR MLS Purchase Agreement. This type of agreement is subject to lender financing and should be identified as “Other Lender” in this paragraph. 

In the CVR MLS Purchase Agreement, the purchaser may not change their loan type without the Seller’s written consent.  

Paragraph 4 contains several obligations the Purchaser must meet. If the Purchaser does not comply with all of the terms agreed in Paragraph 4, the Seller may terminate the contract. In this case, subject to the Deposit paragraph, the Purchaser’s Deposit is paid to the Seller rather than refunded to the Purchaser. 

The purchaser must obtain a written loan commitment by 5PM on the stated settlement date in the Purchase Agreement. Otherwise, the Seller may terminate the contract. 

Paragraph 4 contains several consequential deadlines that must be closely monitored if the purchase offer is contingent on financing.  

For more resources, check out this video update from Legal Counsel on CVR MLS forms. 

If you have any questions, please contact us at RiskManagement@RARealtors.com. 

This video is available as a part of the CVR MLS Purchase Agreement Playbook.

AIn this brief video, RAR/CVR MLS Legal Counsel Michael Lafayette reviews Paragraph 4 of the CVR MLS Purchase Agreement effective as of July 1, 2026.

This article is available as a part of the CVR MLS Purchase Agreement Playbook.

As changes and updates are made to the CVR MLS Purchase Agreement, it is important to thoroughly understand how each paragraph comes into play during real estate transactions. This playbook provides key practice tips for utilizing the CVR MLS Purchase Agreement.