This course will familiarize students with the most widely used contract form in Florida. This contract is a joint effort of the Florida Realtors and the Florida Bar. It’s used in all 67 counties by small and large Brokerages. Students will also discuss the Riders that can be used in circumstances where the standard contract by itself won’t accomplish the objectives of the parties.
Objectives: After taking this class students will be able to:
•Identifyandaccurately 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 thedifference to a buyer or seller of cosmetic V functional deficiency.
•Accurately calculate the down payment and financing acquired to achieve the agreed upon price andterms.
•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 newlyconstructed condominium.
•Define the difference between mediation and binding arbitration