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

• Describe the elements of a valid contract.
• Describe valid, void and voidable contracts.
• Describe the statute of frauds and the importance in real estate.
• Describe the elements of a purchase and sale agreement.
• Describe the elements of a listing agreement.
• Explain the different types of listing agreements.
• Explain a conditional release of listing.
• Describe a buyer's agreements.
• Describe the importance of a legal description.
• Describe when a contract is required for a lease option or a lease.
• Describe an assignment.
• Describe novation.
• Know when it is appropriate to seek out the advice of your managing broker when writing a purchase and sale agreement.
• Understand the importance of using standardized forms.
• Know the rules on giving legal or tax advice.
• Explain situations where it would be wise to have your client seek legal advice.
• Define Subject To.
• Define contingency and give examples.
• Define and give examples of amendments/Addendums to a real estate contract.
• Explain CLUE.
• Explain how modifications are made to a contract.
• Define a notification in real estate.
• Explain various ways to present offers and counter offers.