The Oklahoma Real Estate Commission passed a law in order to create a Real Estate Contract Committee. This Committee is responsible for developing Oklahoma Real Estate Commission approved real estate contracts and related forms for use by real estate licensees. The Real Estate Commission has developed numerous contract forms and related addenda which include residential sales, vacant lot(s) and land, farm and ranch properties and commercial and residential lease(s). In addition, a contract Information Booklet has been prepared. This Booklet provides the parties to a Real Estate transaction with additional information about particular contract provisions. It should be noted, however, that the Booklet mostly follows the OREC residential sales contract form.

This course will expose the learner to a number of the more common OREC approved Real Estate forms as well as give the learner an introduction to their use and eﬀect.

Topics Covered

Lesson 1: Introduction to Understanding Real Estate Contract Law
Lesson 2: The Oklahoma Real Estate Commission Real Estate Contract - Residential Sale
Lesson 3: OREC Uniform Contract of Sale of Real Estate Residential Sale

Learning Objectives

Upon completion of this course, you will be able to:
• Understand the Oklahoma Broker Relationship Act in terms of client representation and how the Act diﬀers from Agency.
• Identify key contracts and forms used in Oklahoma.
• Locate the appropriate contracts and explain which forms should be utilized.
• Recite where the forms and contracts can be located online.
• Understand the Oklahoma Real Estate Commission Residential Sales Contract and be able to explain it to customers and clients

Approved States: OK

What State Can I Purchase This Course?

Oklahoma