Contracts & Leasing

Overview

A contract is an exchange of promises between two or more parties to do or refrain from doing an act. For a contract to be valid and enforceable in court, it must contain certain elements. Customers or Clients will benefit by working with licensees who are more knowledgeable about the area of contract law so as to help the customer or clients avoid the risk of making poor decisions regarding the contractual process of buying or selling real estate.

This course begins with a basic knowledge of contract laws and leases and covers the importance of basic requirements. This course also covers a proper offer and acceptance, the need for competent parties, providing value or consideration, and an understanding of basic contracts and leases in the real estate arena. 

Learning Objectives

Upon completion of this course, students will be able to: 

  • understand the types of contracts, how they are formed, and how they are terminated
  • know and understand the differences between assignment and novation and describe financing contracts
  • describe the differences of how a contract can be discharged or terminated and the rights of both parties in the event of a default by either party
  • explain who has the authority to sign, modify or cancel a listing agreement
  • explain ways in which a listing agreement can be terminated and describe contingencies and "subject to" clauses in a purchase and sale agreement.

Designed For

Real estate professionals at any level in their career
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