Real Estate Sales Contracts: Elements and Provisions, Exercises of Real Estate Management

Download Real Estate Sales Contracts: Elements and Provisions and more Exercises Real Estate Management in PDF only on Docsity! Contracts for Sale 1) Contracts in Real Estate a) Elements of a valid contract  Offer and acceptance  Consideration  Capacity to contract  Legal purpose Real estate sales contracts are subject to the statute of frauds, meaning that they must be _____________________ to be enforceable. docsity.com 2 b) Real estate sales contracts generally outline the following provisions  Names of the buyer and seller  Description of the property  Fixtures  Purchase price and terms of financing  Type of interest to be transferred and the type of deed to be conveyed  Date and time of closing and possession  Agency disclosure  Contingencies  Seller obligations  Escrow arrangements  Provisions should the property be destroyed or damaged prior to closing docsity.com