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Contracts, Purchases and Sales Agreements New

Course Description

Contracts, Purchase and Sales Agreements.

Agreement is an essential component in the legal transference of ownership. In real estate, contracts are the instruments by which agreements are reached for the conveyance of property. Whether a salesperson is promising to sell a property within a specified period of time, a prospective buyer is placing an offer on a house or a seller is considering an offer on property, some type of contract is involved.

In this Contracts course, the student learns about the types of general contracts as well as the different kinds of real estate contracts. The module begins by providing the student with an overview of the various types of contracts: bilateral, unilateral, implied, express, executed, executory, valid, void, voidable and unenforceable. Once the student is introduced to the different types of contracts, he or she learns what makes a contract legally enforceable, this being the five components that make a contract valid: mutual assent, legally competent parties, consideration, lawful objective and adherence to a statute of frauds.

This course will introduce the student to two of the three factors that create a contract: offers and acceptances. When there is an offer and acceptance, the parties can either perform their respective parts of the contract or breach the contract by not fulfilling their obligations. Then we will discuss the third component of a legally binding and enforceable contract-performance. There are four basic types of contracts in real estate: sales contracts, option agreements, contract for deeds and leases; these types of contracts being those that deal in the governance of the real estate industry which, as a real estate professional, the student should be familiar with.

Upon completion of this module, the student will be able to.

  • Name and explain the various components of a valid contract.
  • Identify the differences between a unilateral and bilateral contract.
  • Describe the various types of contracts.
  • Recognize the difference between a forbearance and performance agreement.
  • Outline the features of a contract (and the contracting parties) that make a contract legally binding.
  • Recognize the general features of a completed contract.
  • Identify when a contract can be discharged.
  • Recognize the different kinds of real estate contracts.

State Requirements

Our real estate CE courses meet the requirements of the Florida Real Estate Commission (FREC). Take your Florida real estate continuing education now. All licensees are REQUIRED to comply with post-licensing or continuing education requirements and pay the renewal fee to maintain their licenses. The Department of Business and Professional Regulation maintains a database of all completed post and continuing education.

Course providers are required to report CE completion of students to the department within 30 days or prior to the expiration date, whichever comes first.

PRICE:

$6

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