Chapter 18: Sales Contracts

*   Role of broker/salesperson

*   Role of attorney

Review of Essentials Requirements of a Contract

*   Offer and acceptance

*   Consideration

*   Legally competent parties

*   Legality of the object

*   Reality of consent

Contract Issues

*   Alteration of offer

*   Equitable title

*   Risk of loss

*   Shuttle negotiation

Parts of an Agreement of Sale

*   Identification of the parties

*   Legal description

*   Purchase price and terms

*   Down payment and subsequent calls for additional deposit.

*   Closing date--time is of the essence

*   Contingencies

*   Dates and signatures