Real Estate Contracts 



Course Description

This class will explore contracts and forms related to real estate transactions. Special emphasis is placed on the required elements of a binding contract, agency relationships, disclosure requirements, addenda/contingencies, and closings. All the elements of a real estate transaction must be accurate, and properly executed for the contract to be binding. It is important for real estate professionals to have a working understanding of the contractual transaction in order to best serve their clients.

After completing this course participants will be able to:

  • Have a better understanding of basics of contract law and the elements of a contract
  • Be better equipped to serve buyers and sellers through an understanding of agency law
  • Examine purchase agreements, addendums, and aspects of financing
  • Have a working knowledge of necessary requirements to better serve your clients

Real Estate Contracts - (Lessons include time for a short, 5-question assessment.)

Lesson 1 Elements of a Binding Contract (29 minutes)

  • Types of Contracts
  • Essential Elements

Lesson 2 Elements of a Binding Contract cont. (17 minutes)

  • Plain Language
  • Performance and Discharge
  • Remedies

Lesson 3 Representation Contracts Agreements (26 minutes)

  • Agency Relationships
  • Fiduciary Duties

Lesson 4 Representation Contracts Agreements cont. (21 minutes)

  • Listing Contracts
  • Required Items and Other Provisions

Lesson 5 Disclosure Issues (20 minutes)

  • Seller’s Property Disclosure
  • Material Facts
  • Exemptions
  • Alternatives

Lesson 6 Purchase Agreements (23 minutes)

  • Required Elements of a Purchase Agreement

Lesson 7 Counter Offers and Addenda (20 minutes)

  • Financing Addenda
  • Conventional Mortgage
  • FHA Mortgage
  • DVA Mortgage
  • Land Contracts

Lesson 8 Closing Costs (20 minutes)

  • Seller Contributions
  • Common Interest Community
  • Contingency Addenda
  • Cancellation

Lesson 9 Roundtable Discussions (30 minutes)

  • Supplemental Cases

Final Assessment (20 minutes)