FRECI_11-1 - Lecture Preview Florida Real Estate Commission...

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1 Florida Real Estate Commission Course I Pre-Licensing Course for Sales Associates Session 11 – Lecture 1 Real Estate Contracts Copyright, 2005 2 Lecture Preview What will you learn from this lecture? What type of contract a licensee is permitted to prepare When the statute of frauds applies and when it does not Time frames for the statute of limitations Copyright, 2005 3 Vocabulary Terms Contract Statute of frauds Statute of limitations Unenforceable contract Valid contract Void contract Voidable contract Copyright, 2005 4 What is a Contract ? Lease contract Buyer brokerage contract Listing contract Purchase contract Option contract An oral or written agreement to do or refrain from doing something Copyright, 2005 5 Preparation of Contracts Deeds Mortgages Promissory notes Lease agreements (except on approved pre-printed forms) Any other legal documents Licensees are restricted in preparing contracts!
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FRECI_11-1 - Lecture Preview Florida Real Estate Commission...

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