Law of Contracts, No. 1251

Real Estate License Course Details

Law of Contracts, No. 1251

Our daily lives involve contracts of all sorts. We have contracts with banks, mortgage companies, credit card issuers, businesses that deliver goods to our homes, department stores, and so on. Many of these contracts are created and performed without a formal written document; the grocery store allows you to load your cart with food with the understanding (a contract) that you will pay for the items before leaving the store.

Real Estate transactions involve a complex set of regulations and requirements. The real estate licensee is expected to be able to complete a set of forms and agreements that will culminate in a successful real estate transaction. In this course, we will identify the key contracts and forms used in real estate, review the appropriate legal background, and then distinguish the proper mechanics for completing these forms.

This course includes instruction related to the elements of a contract, offer and acceptance, the statute of frauds, specific performance and remedies for breach, unauthorized practice of law, commission rules relating to the use of adopted forms, and owner disclosure requirements.

The course outline is as follows;

          Unit 1: Texas Contract Law 
          Unit 2: Basics of Real Estate Law 
          Unit 3: Introduction to Contracts 
          Unit 4: Ownership Rights and Limitations 
          Unit 5: Contracts Used in Real Estate 
          Unit 6: The Sales Contract 
          Unit 7: Contingencies, Addendums, and Amendments 
          Unit 8: Financing Real Estate 
          Unit 9: Conveyance of Title 
          Unit 10: Transaction Process and Closing 
          Unit 11: Common Contract Mistakes

Students can expect numerous exercises, quizzes, case studies, and the course will be completed with a cumulative final exam. All elements presented in the course are required for course completion.