Call Us 1-800-727-7104
Call Us 1-800-727-7104

Real Estate Contracts | Minnesota Approval #1023726


4.25 Elective Education Hours | Online HD Video Class | Instructor: Timothy Sinclair
Your Minnesota sale isn't closed until the contracts are in.  This course will explore contracts and forms with emphasis on the required elements of a binding contract, agency relationships, disclosure requirements, addenda/contingencies, and closings.

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Real Estate Contracts



Course Description

This class will explore contracts and forms related to the Minnesota real estate transactions. Special emphasis will be placed on the contract issues that come up in day-to-day businesses so agents will be better equipped to serve buyers and sellers after instruction on what is contractually required. 

After completing this course participants will be able to:

  • Have a better understanding of what is required by law in real estate contracts;
  • Examine various contracts, addendums, and agreements and review forms issues that create problems in real estate transactions;
  • Learn to avoid contractual perils and pitfalls;
  • Be better equipped to serve buyers and sellers in today’s complex real estate transactions



Welcome and Course Objectives

Lesson 1 Elements of a Binding Contract 

  1. Bilateral versus unilateral
  2. Enforceability
  3. Essential elements


Lesson 2 Elements of a Binding Contract cont.

  1. MN Plain Language statute
  2. Performance
  3. Discharge
  4. Breach
  5. Remedies
  1. Assignability
  2. When clients should seek legal advice


Lesson 3 Representation Contracts and Facilitator Services Agreements

  1. Agency Relationships


Lesson 4 Representation Contracts and Facilitator Services Agreements cont. 

  1. Listing Contract
  2. Buyer Representation Contracts
  3. Facilitator Services Agreements: Buyer & Seller


Lesson 5 Disclosure Issues 

  1. Seller Disclosure in Residential Property
  2. Seller Disclosure Alternatives
  3. Other Seller Disclosure Requirements


Lesson 6 Purchase Agreement

  1. Parties’ Names
  2. Property address
  3. Ernest money obligations
  4. Fixtures
  5. Personal Property
  6. Price
  7. Deeds
  8. Property taxes and assessments
  9. Linked Devices
  10. Possession
  11. Title and examination
  12. Mechanics Liens
  13. Definition of dimensions
  14. Risk of Loss
  15. Time is of the essence
  16. Entire Agreement
  17. Default
  18. FIRPTA
  19. Final acceptance


Lesson 7 Counter Offers and Addenda 

  1. Standard terms
  2. Signatures required on the purchase agreement
  3. Conventional
  4. FHA
  5. DVA
  6. Contract for Deed


Lesson 8 Seller Contributions 

  1. Closing Costs

Condominium Townhouse CIC Addendum

  1. Calculation of days
  2. Exempt properties
  3. Right to cancel provision

Contingency Addendum Sales of Buyer’s Property

  1. Mechanics of the contingency

Inspection Contingency

  1. Types of inspections
  2. Mechanics of the contingency
  3. Cancellation
  4. Material fact disclosure

As Is Addendum

  1. Seller disclosure alternatives with waiver
  2. Limitation of Seller Liability/legal advice
  3. Warranties
  4. Risk of loss

Cancellation of a Purchase Agreement

  1. Cancellation agreement signed by both parties
  2. Refusal to sign a cancellation
  3. Statutory cancellation
  4. Earnest money issues

One Time Showing Contract

  1. Secures compensation
  2. Specific buyer


Lesson 9 Roundtable Discussions 


Final Assessment

Course instructors will be available by email or telephone between 8am and 6pm Eastern Standard Time. They will assist you with questions regarding course content.

If you have any questions, please call us at 1-800-727-7104 or send an email to Email responses will usually be returned promptly, but guaranteed within one business day.

Student policies and procedures are always available by going to our website and scrolling to the bottom of the page (See Attendance, Privacy and Refund Policy)

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