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Course Content

I. Welcome and Course Objectives
Welcome and Course Objectives 1 Quiz
II. Elements of a Binding Contract
A. Licensees may draw up contracts (M.S. 481.02, Subd. 3a)
B. Enforceability
C. Essential elements 1 Quiz
D. Assignability
III. Agency Relationships in Real Estate Transaction
A. MN Law
B. Disclosure only, not a contract for representation
IV. Disclosure Issues
A. Seller Disclosure Statute (M.S. 513.55)
C. Other Disclosure Obligations
V. Representation Contracts and Facilitator Services Agreements
A. Timing of entering into a representation contract (Post Settlement)
B. Required Elements
VI. Showing and Broker to Broker Compensation Agreement
A. Secures compensation
B. Specific buyer
C. One-year time frame
VII. Residential Purchase Agreement
VIII. Counter Offers and Addenda
A. Termination of original offer
B. Signatures required on purchase agreement
IX. Common Contingencies
A. Financing
B. Inspection
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