2022 Understanding GAR Contracts Class

GREC Course Approval Code: 73745  "2022 Understanding GAR Contracts" 

Course Objective: The goal of this course is to familiarize agents with the most commonly used GAR Forms in a typical residential purchase transaction and it will also cover the most recent changes and updates made to the GAR Forms for 2022. Students should be more confident in the use of forms and have a better understanding of their job as an agent after attending this class, which will allow for easier negotiations, which will benefit the customers / clients.  

Course Description: This Course offers a detailed review of the all of the key terms of the GAR Residential Purchase and Sale Agreement as well as the most common exhibits used in a typical transaction, with a heavy emphasis on contingencies, timelines and deadlines. The class will identify when it is necessary to attach certain Financing and/or Appraisal Contingency Exhibits to the Agreement and when it is not. We will discuss the importance of the Legal Description, Time Limit, referencing Exhibits / Attachments in the body of the Agreement, understanding the time-line of the transaction and the difference between Acceptance and Binding Agreement Date. In addition, we will talk about Amendments to and terminations of Purchase and Sale Agreements.