Advanced Contracts

For Vermont Real Estate Brokers and Salespersons

A Study of Basic Contract Law, Drafting Issues, and Specialized Contracts Used in Real Estate Transactions

This course has been approved by the Education Subcommittee of the Vermont Real Estate Commission for 4 elective clock hours for activating or renewing a real estate license in Vermont.  A new salesperson may elect to use this course as 2 clock hours toward completion of the 90 day post-licensure requirement.

LEARNING OBJECTIVES

  • To review basic contract rules as applied in Vermont
  • To discuss drafting issues arising in real estate transactions
  • To understand VT court analysis of specialized contracts used in real estate transactions

METHODS OF INSTRUCTION

This course is INTERACTIVE. The main outline has five parts and each part has several topics.  The outline is indexed.  There are 42 specific examples left for classroom discussion.  The course targets listing skills, drafting skills and skills in understanding specialized deed provisions such as rights of first refusal, housing subsidy covenants, enhanced life estates and other matters not usually addressed in continuing education offerings.  In the smaller offerings, classroom style instruction will be in roundtable format. In larger groups, there will be a classroom layout.  This course is considered Intermediate to Advanced Level. Both brokers and salespersons would benefit.


COURSE CONTENT

Topics Covered: Contract Formation (elements, electronic contracting, filling in blanks, agent selection of provisions, quasi contracts/implied terms, good faith and fair dealing, emails, placement of signature, time is of the essence, oral modifications, attorney fees, exculpatory clauses, signature issues) (100 min); Service Agreements (VT regulations, form and elements, other issues) (40 min); Purchase and Sale Agreement (contingencies, title issues, excessive deposits, contract addenda) (30 min); Options and Rights of First Refusal (40 min); Other Issues (wrongful interference with contractual rights, joint venture, lease and option to purchase, post closing escrow, ethics in drafting) (30 min); Conclusion.

INSTRUCTOR, ENROLLMENT & SCHEDULE

Instructor: Randall F. Mayhew, Vermont attorney and longtime instructor of real estate

Enrollment: Sponsor reserves right to require a minimum of twelve pre-registered students.  Maximum enrollment may apply when required due to space limitations. Enrollment at the door is subject to available space.  Payment must be made prior to commencement of course.

Schedule:  Posted on this website.  Cost $80 (general charge).