Securing Success by Mastering Contracts and Risk Management
Dive deep into the world of real estate with our comprehensive course on Contracts and Risk Management at Real Estate Schools.org. Tailored to both seasoned professionals and novices, our course helps you navigate the complex contractual landscape inherent in real estate transactions.
Understand the nuances of various types of contracts, learn the intricacies of negotiation, and master how to minimize risks. Our hands-on course also equips you with practical knowledge on dealing with common contractual problems and disputes.
With a blend of theoretical learning and real-world examples, we aim to empower you with a stronger understanding of contractual law and risk management in real estate.
Discover the skills and confidence to secure successful property transactions and mitigate potential risks with Real Estate Schools.org!
Unit #1 Elements of a Valid Contract
Objectives
Upon completion of this lesson, the student should be able to:
Describe the elements of a valid contract and explain void and voidable contracts.
NOTE
This course uses the terms "licensee" and "representative" interchangeably to mean an agent that is affiliated with a broker. The term "broker" is used to specify a designated broker, principal broker, or sponsoring broker who has affiliated licensees working for them.
Introduction
Contracts are an essential part of transferring real estate. As a real estate professional, you need to know these contracts well, know how to use them, and be able to explain their terms to the people you represent.
These forms help create a legally binding agreement between the parties. They spell out the terms, conditions, timeline, and promises of both the seller and the buyer.
If a dispute ever arises between the parties, the contract and its contents will carry significant weight in arbitration or in court. Getting the details right from the start protects everyone involved.
Throughout this course, we will refer to the agreement between a buyer and a seller for the purchase of real property as a Purchase and Sale Agreement, or PSA.
Don Sr. has been in the real estate business for over 40 years, working as a broker, running real estate offices, and developing property. He's the founder of Realestateschool.org and it's principal instructor. Don Sr. has a teaching degree from the University of Washington and has been teaching real estate for over 35 years.
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