Online Only

Approved by TREC in association with The Real Estate Business School(#544).

Law of Contracts – Online Course

$125

Credits: 30 Hour(s)

Coming Soon!

Online – Texas Law of Contracts

Texas Law of Contracts is a 30-hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas.

This course covers real estate purchase contracts, standards, regulations, forms and various other elements of a contract. It also puts more emphasis on what the licensee’s responsibilities are. It also covers the issues related to disclosures and regulations.

•Describe the relationship between the selling agent and broker
•Identify the elements of a contract and its addenda, when used
•Identify which form(s) are appropriate to define the agreement of the parties
•Describe how to qualify the buyer for conventional, FHA and VA financing
•Estimate the monthly mortgage payment and the estimated closing costs for the buyer
•Present and negotiate single or multiple offers
•Write offers for conventional, FHA, VA and assumption transactions

COURSE OUTLINE:

Lesson 1- The Role of the Licensee: 2 hours

•The Process of Working Buyers and Sellers
•Brokerage Services and Representation

Lesson 2- Contract Law and Terminology: 7 hours

•Introduction
•Elements of A Contract
•Contract Terminology
•History Of The Joint Broker-Lawyer Committee
•Rules For The Use Of Contracts
•Deceptive Trade Practices Act
•The Federal Fair Housing Law

Lesson 3- Promulgated Forms: 7 hours

•One To Four Family Residential Contract (Resale)
•Condominium Contract
•New Home Contracts
•Farm and Ranch Contract
•Unimproved Property Contract
•Other helpful forms

Lesson 4- Presenting Offers and Licensee’s Responsibilities: 3 hours

•Presenting The Offer
•The Licensee’s Responsibilities
•Breach Of Contracts

Lesson 5- Calculations: 4 hours

•PITI (Principal, Interest, Taxes, Insurance)
•Escrow Accounts
•Calculations
•Liens, Taxes and Proration

Lesson 6- Credit Scoring and Exercises: 2 hours

•The Power of Credit Scoring
•Conventional Exercises

Lesson 7- HUD Settlement and Closing Costs: 2 hours

•HUD-1 Settlement Statement
•Buyers Estimated Closing Costs

Lesson 8- FHA and VA Contract Information: 3 hours

•Loan Limits
•Down Payment and Minimum Investment
•Mortgage Insurance Premium (MIP)
•FHA Benefits
•Home Inspection Guidelines

All courses are approved by Texas Real Estate Commission (TREC) and are in association with St. Edward's University Professional Education Center (#0720) in association with The Austin Institute of Real Estate (#544)


Format Available:

Real Estate Online CourseOnline
All Texas Real Estate courses provided by Online Institute of America are ONLINE Self-Paced courses.

Note: Some courses may include PDF Textbooks and other material, but all examinations will be conducted online, at your convenience.


We're State Approved and Certified!

Our courses are provided by The Real Estate Business School (Austin Institute of Real Estate) (provider #701045); approved by the Texas Real Estate Commission as Correspondence

Real Estate Business SchoolTexas Real Estate Commission Seal of Approval


Certificate of Course Completion

Certificates of completion make it easier than ever to share your success and progress with the Texas Real Estate Commission (TREC) and your sponsor or employer. With each course you finish a new certificate of completion will appear in your account. The certificate includes your name, course title, credit hours, date of completion and our administrative coordinator signature.


Features & Benefits:

State Approved & Accredited!State Approved! Our courses are approved by the Texas Real Estate Commission (TREC) in conjunction The Real Estate Business School.

Trusted by ProfessionalsTrusted by Professionals
More than 50,000 real estate professionals have take our courses to get and renew their real estate license.
Customer SupportCustomer Support
Our friendly support staff is available 24-hours a day to assist you via phone, email or live chat.


Students love our courses!

5 Star Rating
I would definitely recommend using your program to anyone preparing to take the Texas Real Estate Agent and/or Broker exam. Thank you for your time and effort in creating this wonderful tool. - Bill U.

5 Star Rating
The prep was very effective and saved time and money for me as a busy realtor. The questions precise and study guide effective to mow through mounds of information especially for those like me who been out of college for quite a while. - Clement W.

5 Star Rating
As a result of using your program, I recently passed the state and national exams for my Salesperson license on the very first try! I was pleased to refer another young lady to your program at an orientation at the local board of realtors yesterday.

She is awaiting approval to take her test and is petrified. I assured her that your program works!
- J. Carter