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Course 114: Essential Concepts of the C.A.R. Residential Purchase Agreement
 
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Course Description
This course details the Residential Purchase Agreement from beginning to end...familiarize you with primary contract principals...familiarize you with general provisions affecting deposit receipt forms...explains significance of selected Regulations of theReal Estate Commissioner and section of the Business.

Course Goals
This course has been developed to:
  • Familiarize students with basic contract principles.
  • Familiarize students with general provisions affecting deposit receipt forms.
  • Familiarize students with the real estate purchase contract and receipt for deposit.
  • Provide students with an understanding of selected practical observations.
  • Provide students with an in-depth understanding of C.A.R.'s real estate purchase contract and receipt for deposit.
  • Explain the significance of selected Regulations of the Real Estate Commissioner and sections of the Business and Professions Code.

Course Instructional Objectives
Upon completion of this course, the student will be able to:
  • Explain basic contract principles
  • Identify elements of a contract
  • Identify which contracts fall within the Statute of Frauds
  • Differentiate between covenants and contingencies
  • Recognize when commission is earned
  • Identify problems and solutions involving deposits
  • Determine at what point in negotiations acceptance of an offer has occurred
  • Discuss DRE Regulations pertaining to the handling of deposits
  • Handle deposit money correctly
  • List some general rules applicable to purchase contracts
  • Complete each section of the real estate purchase contract and deposit receipt
  • Explain the significance of each section of the purchase contract
  • Identify which supplemental forms to be used
  • Discuss the background of each of the disclosure requirements
  • Recognize licensee's liability arising from each of the disclosure requirements
  • Identify all terms and contingencies which could be negotiable
  • Explain the significance of the Acceptance section for all parties involved
  • Explain the significance of selected Regulations of the Real Estate Commissioner and sections of the Business and Professions Code.

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