Promulgated Contract Forms | Texas Approval #351

$90.00

30 Hour | HD Video& Text | Instructor:  Kaplan University
This course will focus on all of the forms promulgated by TREC for use by Texas licensees and will cover in detail the nuances of each as well as how to use them.  The six main sales contracts are covered as well as the perils of using contracts that are not promulgated by TREC.

SKU: 3909 Categories: , Tags: ,

Description

Texas Promulgated Contract Forms


 

COURSE SYLLABUS

Course Description

This course will focus on all of the forms promulgated by TREC for use by Texas licensees and will cover in detail the nuances of each as well as how to use them. The six main sales contracts, including residential, condo, new construction (complete and incomplete), farm and ranch, and unimproved property are covered as well as the perils of using contracts that are not promulgated by TREC. 


 

1. Contract Law Overview

  • Elements of A Valid Contract
  • Valid/Void/Unenforceable/Voidable
  • Executed and Executory Contracts
  • Bilateral vs. Unilateral
  • Reasonable Time vs. Time is of the Essence
  • Amendments and Addenda
  • Performance of a Contract
  • Statute of Limitations
  • Reasons for Termination

2. Laws, Rules and Regulations

  • Texas Real Estate License Act

  • Unauthorized Practice of LAw, Examples of Common Mistakes

  • The Broker-Lawyer Committee

  • Use of Promulgated Forms

  • Presenting Offers and Multiple Offers

  • When does the Offer Become a Contract?

3. Parties, Properties and Financing

  • Information Needed to Complete Contract Forms (Including Financing Costs)

  • Review Elements & Practice 1-4 Family Residential Contract (Resale), Non-Realty Items Addendum

  • Review Elements & Practice Third Party Financing Addendum & Loan Assumption Addendum

  • Review Elements & Practice Seller Financing Addendum

  • Review Elements & Practice Addendum for Release of Liability on Assumed Loan and/or Restoration of Seller's VA Entitlement

  • Case Study/Workshop

4. Covenants, Commitments and Notices

  • Earnest Money Requirement 

  • Option Fee Requirement

  • Title Commitment, Title Policy & Endorsements 

  • Survey

  • Affidavit & Notice to Prospective Buyer

  • Property Condition: Inspection, Acceptance, Repairs

  • Seller's Disclosure & Lead Based Paint Disclosure

  • Environmental Assessment & Threatened or Endangered Species & Wetlands Addendum

  • Residential Service Contract

5. Closing, Possession and More

  • Closing Paragraph & Buyer's Possession Paragraphs in Contract

  • Special Provisions

  • Seller's Temporary Lease Form & Buyer's Temporary Lease Form

  • Settlement & Other Expenses

  • Prorations, Casualty Loss, Default & Mediation of Contract

  • Escrow Provisions

  • Other Contract Provisions

  • Executing the Contract & Finalizing the Agreement

  • Case Study/Workshop

6. The Remaining Promulgated Forms

  • Overview of Forms 

  • Differences between 1-4 Family Residential Contract & Other Contracts

  • Residential Condominium Contract

  • Unimproved Property Contract

  • New Home Contracts

  • Case Study/Workshop

7. Promulgated Addenda, Notices and Other Forms

  • Addendum for Sale of Other Property by Buyer

  • Addendum for Back-Up Contract

  • Addendum for Reservation of Oil, Gas & Other Minerals

  • Buyers Termination of Contract

  • Mutual Termination of Contract

  • Addendum for Property Located Seaward of the Gulf Intracostal Waterway, Addendum for Coastal Area Property

  • Addendum for Property Subject Mandatory Membership in an Owner's Association

  • Short Sale Addendum

  • Noncontract Forms:

    • Promulgated Resale Certificates

    • Consumer Information Form

    • Information About Brokerage Services Form

  • Non-Realty Items

  • Case Study/Workshop

8. Other Real Estate Matters

  • Real Estate Fraud

  • Broker's Fees

  • Fair Housing Laws

  • Other Disclosures (Required, Permitted, Prohibited)

  • Review Occupancy Standards 

9. Practice Makes Perfect

  • Group Workshop/Case Study/Discussion


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 info@onlinecti.com. 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).

 
335,692 Courses Taken
Explained everything so it was understandable.
Ken F.
 
Live Chat