AAR RESIDENTIAL RESALE PURCHASE CONTRACT 101(6 Hours CE)

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Course Description: AAR Residential Resale Purchase Contract 101 (6 Hours CE)

3-Hours Contract, 3-Hours Agency Law CE

Overview

“AAR Residential Resale Purchase Contract 101” is a comprehensive 6-hour continuing education course designed to equip real estate professionals with a thorough understanding of the 2023 Arizona Residential Resale Purchase Contract. This course covers the contract in detail, including agency relationships, lending, disclosure, and various other critical aspects of the real estate purchase process. Understanding the nuances of the contract and being able to articulate these to clients are pivotal for full representation in today’s dynamic market.

Objectives

To gain an in-depth understanding of the Arizona Residential Resale Purchase Contract.
To learn about the statutory requirements and duties of a broker under agency law as it relates to the purchase contract.
To understand the lending process, including working with lenders and the implications of the TRID Loan Estimate and Closing Disclosure.
To evaluate all available options for distressed homeowners and the complexities involved in short sales.
To navigate through the due diligence process and understand the seller and buyer’s obligations.

Course Structure

Introduction to Agency: Overview of real estate agency, including disclosure and election highlights, duties a broker must and may not perform, and how agency is created.
Pre-Qualification and Working with Lenders: Detailed examination of the lending process, including the Nationwide Mortgage Licensing Service, understanding of credit scores, debt to income ratios, and loan types.
Understanding the Residential Resale Purchase Contract: An in-depth look at the contract sections related to property, financing, title and escrow, disclosures, warranties, and due diligence.
Remedies and Terms & Conditions: Exploration of the remedies available within the contract and a comprehensive review of the terms, conditions, and seller acceptance clauses.
Standard AAR Forms: A look at the standard forms used in Arizona real estate transactions, ensuring full compliance and understanding.

Interactive Learning Components

True/False Quizzes and Section Reviews: To reinforce key concepts and ensure understanding.
Real Estate Agency Scenarios: Practical scenarios to apply knowledge learned in real-world contexts.
Comprehensive Section Exams: To test the knowledge gained in each section of the course.

Who Should Attend

This course is essential for new and experienced real estate agents and brokers in Arizona who wish to deepen their knowledge of the Residential Resale Purchase Contract and ensure they are providing the best representation to their clients.

Learning Outcomes

Upon completing this course, participants will:

Have a detailed understanding of the Arizona Residential Resale Purchase Contract and related AAR forms.
Be knowledgeable about the legal and statutory requirements governing real estate transactions in Arizona.
Be prepared to guide clients through the complexities of buying or selling residential real estate in Arizona.

Conclusion

“AAR Residential Resale Purchase Contract 101” provides real estate professionals with the skills and knowledge necessary to navigate the complexities of the residential resale process confidently. Through detailed instruction and interactive learning, participants will be better prepared to represent their clients effectively, ensuring a smooth and compliant transaction process.