Florida Realtors Florida Bar Contract For Sale and Purchase

Objectives: After taking this class students will be able to:

•Identify and accurately complete the appropriate addenda to use in any specific situation.

•Explain the differences between assignment with recourse and without recourse.

•List the timelines and parties for notification regarding mortgage commitments.

•Define the difference to a buyer or seller of cosmetic V functional deficiency.

•Accurately calculate the down payment and financing acquired to achieve the agreed upon price and terms.

•Explains the rights of a seller regarding repairs in an AS-IS contract.

•List the options available to a buyer when a seller defaults on a contract.

•Contrast the difference between funding at closing and closing in escrow.

•Allocate closing costs between the parties.

•List the times (number of days) for cancellation between a condominium resale and a newly constructed condominium.

•Define the difference between mediation and binding arbitration