This course will resolve common problems, misconceptions and misunderstandings related to the TAR Purchase and Sale Agreement (RF401), and provide guidance to its proper use as well as related TAR forms. Students will practice filling out a sample contract and will learn how to explain its various provisions to a buyer or seller.
Upon completion of the course, students will be able to:
- Explain the meaning and significance of the various Timelines, Dates, Notices, and Actions required by both parties as found in the TAR Purchase and Sale Agreement (RF401).
- Assist purchasers in choosing among Inspection and Repairs options in the TAR Purchase and Sale Agreement (RF401), assist them in filling in the inspection-related sections of the form, and explain this section correctly to either buyers or sellers. [Inspection-related provisions include the wood infestation reports.]
- Correctly identify any required disclosures (and disclaimers) that must be included in or accompany the Purchase and Sale Agreement (RF401) in various given situations.
- Explain to customers and clients what items should and should not be included under special stipulations in the TAR Purchase and Sale Agreement (RF401).
- Recognize and advise consumers correctly as to the preprinted items in the TAR Purchase and Sale Agreement (RF401).
- Properly complete the TAR Purchase and Sale Agreement on behalf of a prospective purchaser, and clearly explain the significance of each contract section.