The Offer to Purchase: Is It Putting Your Clients at Risk? Training Class

Course ID: 21609

The Offer to Purchase: Is It Putting Your Clients at Risk? Training Seminar

Ensure Your Clients Know What They're Signing

What does the offer to purchase make you and your client liable for? What protections does it provide that shouldn't be modified? What can you do to help protect your clients against the risks involved in real estate transactions? Join our experienced faculty for a provision-by-provision examination of the offer to purchase standard form. Explore its inherent risks and learn what can be done to avoid liability. Register today!

Confidently educate your clients on what representations and liabilities they are signing onto and what mechanisms are in place to protect them.
Discover the legal reasons behind provisions in the offer to purchase standard form and commonly-used addenda.
Find out how certain modifications to the offer to purchase can increase or mitigate risk.
Study the disclosure and contingency requirements for real estate transactions.
Safeguard your client during condo, vacant land and waterfront property sales by knowing the critical contract variations.
Learn what contract modifications a realtor can make and what constitutes the unlawful practice of law.
Discuss circumstances when a realtor should avoid holding escrow money or when it would be appropriate to have a separate escrow agent agreement.
Know what crucial documents to review during due diligence and what findings are clues to walk away.
Understand the limitations and protections afforded by title insurance, gap insurance, PMI and home warranties.
Be prepared for commercial transactions: examine how the commercial offer to purchase differs from the residential form.


	Agenda
	A WALK THROUGH THE OFFER TO PURCHASE 9:00 - 10:00, Karen W. Ingle The History of the Offer to Purchase: From One-Page Contract to Cut-and-Paste Monster A Guided Walk Through the Document and Addenda Understanding the Legalities: Are Any of the Provisions Superfluous? Representations and Disclosures: Legal Requirements Contingencies Financing Provisions and Foreclosure Protections Miscellaneous Provisions (Special Stipulations) Modifications and How They Affect Liability Five Mistakes to Avoid in the Offer to Purchase VARIATIONS OF THE CONTRACT 10:15 - 11:15, Jennifer L. Dickenson Condominiums Townhomes Vacant Land Purchases Waterfront Property: Water Rights That Can Affect the Deal ETHICS IN REALTY 11:15 - 12:15, Jennifer L. Dickenson Unlawful Practice of Law: Modifying or Drafting Contracts? Multiple Representation During Negotiation Handling Earnest Money: Responsibilities and Appropriateness of Being the Escrow Agent Disclosure Issues Commission Issues Predatory Lending: Your Duty to Inform Clients? INSURANCE: WHAT YOU NEED TO KNOW 1:15 - 2:15, Karen W. Ingle Protections Afforded by Title Commitments and Title Insurance Is Gap Insurance Necessary? Private Mortgage Insurance (PMI) Home Warranties ESSENTIAL DUE DILIGENCE 2:15 - 3:15, Kathryn H. Smith Due Diligence Obligations and Checklist of Procedures Should the Property be Surveyed? The Importance of the Property Appraisal Title Examination and Other Crucial Documents to Review Satisfying Title Requirements and Exceptions Addressing Issues Not Covered by Title Insurance or Title Examination Protecting Against Environmental Liability THE COMMERCIAL OFFER TO PURCHASE 3:30 - 4:30, Kathryn H. Smith Differences Between Residential and Commercial Contracts Environmental Protections Inspection Obtaining Licenses Leases and Existing Tenants Financing Provisions and Purchase Price Allocation Tax Considerations

Audience

This basic level seminar provides a legal review of the Offer to Purchase form, and the liabilities and protections involved in real estate transactions for: