Course 2 Residential Real Estate Transactions 7th Edition by Real Estate Council Of Ontario

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Author: Real Estate Council Of Ontario

Following the flow of the real estate transaction, this course details the requirements and processes for listing, selling, and completing residential real estate transactions. Modules explore a variety of topics, including: seller and buyer services; residential dwellings and attributes; advertising and marketing; and the agreement of purchase and sale.

Course 2 Residential Real Estate Transactions 7th Edition Table of contents:

Lesson 3: Selection of Properties to Show
Identify Buyer Needs and Property Requirements to Select Appropriate Properties to Show
How to Select Properties to Show Buyers
Establish a Buyer Profile
Providing Area Information
Identifying Target Properties
Viewing and Showing Properties
Comparing Properties
Exploring the Need for Outside Professional Services
Property Profile Sheets for Buyers
Information to Collect for a Buyer’s Property Profile Sheet
Basic information
Environment
Access and accessibility
Utilities
Amenities
Other sections
Value of Creating a Property Profile Sheet for the Buyer
Updating Property Profile Sheets for Buyers
Identify Properties That Match a Buyer’s Criteria
Marketing Tools and Digital Services to Identify Properties for Buyers
Ensure Showing Identified Property Meets Buyer’s Criteria
Congratulations, you’ve completed the lesson!
Lesson 4: Showing Properties to the Buyer
The Leading Practices Related to Showing Properties
Preparing to Show Properties: Coordinating Schedules
Allotting a Proper Amount of Time
Travelling with Your Buyers
Leading Practices for Showing Properties:
Showing Courtesy
Leading Practices for Showing Properties
During the Showing
Concerns During Showings
Following Up After Showing Properties
Securing the Property
Using Showings to Re-Qualify the Buyer
Deciding How Many Properties to Show a Buyer
Re-Qualifying to Prioritize Showings
Ideal Sequence and Emphasis
Having a Discussion with a Buyer About Taking Photographs during the Showing
Asking for the Offer
Comparison
Minor details
Advantages versus disadvantages
Confirming advantages
The Leading Practices Related to the Protection of a Buyer
Buyer Privacy and Safety
Smart Homes and Privacy
The Risk of Damage to Property and Brokerage Liability While Showing Properties
Communication, Appointments, and Access While Showing Properties
Congratulations, you’ve completed the lesson!
2c.pdf
Before the First Showing
C2_M14_The_Offer_Process_and_Regulatory_Obligations
C02_M14_The_Offer_Process_and_Regulatory_Obligations
Step 3 – Update seller on current market conditions
C2_M15_Introducing_Residential_Agreement_Sale_and_Purchase_Print_V1
C02_M15_Residential Agreement of Purchase and Sale_5
C2_M16_Completing_Residential_Agreement_Purchase_Sale_Including_Buyer_Seller_Print_VI
Lesson 3: Summary Practice Activities
Congratulations, you have completed the lesson!
C2_M17_Writing_conditions_to_be_included_in_an_Agreement_of_Purchase_and_Sale_Print_V1
Module 17: Writing Conditions to be Included in an Agreement of Purchase and Sale
Module 17: Writing Conditions to be Included in an Agreement of Purchase and Sale
Menu: Writing Conditions to be Included in an Agreement of Purchase and Sale
Lesson 1: An Introduction to Conditional Clauses
An Introduction to Conditional Clauses
Benefits of Writing Clear and Effective Clauses
Conditional Clauses: Condition Precedent
Condition Precedent Clauses: Steps to Identify Required Information
Providing Notice
Waiver Provision
Conditions Drafted as a Condition Precedent
Conditional Clauses: True Condition Precedent
Conditional Clauses: True Condition Precedent
Drafting a True Condition Precedent and Providing Notice
Example: Assuming a Mortgage – True Condition Precedent
Conditional Clauses: Condition Subsequent
Conditional Clauses: Condition Subsequent
Condition Subsequent Clause: Steps to Identify Required Information
Example: Condition on Obtaining Financing – Condition Subsequent
Summary: Condition Precedent Versus Condition Subsequent
Primary Risk when Writing a Condition Subsequent
Congratulations, you have completed the lesson!
Lesson 2: Conditional Clauses Related to Financing
Conditional Clauses Related to Financing
Conditional Clauses Related to Financing: Arranging a New Mortgage
Conditional Clauses Related to Financing: Arranging a New Mortgage
Conditional Clauses Related to Financing: Arranging a New Mortgage
Conditional Clauses Related to Financing: Arranging a New Mortgage Satisfactory to the Buyer
Conditional Clauses Related to Financing: Arranging a New Mortgage (Condition Subsequent)
Impact on Conditional Clauses Related to Obtaining Financing: Market Conditions
Conditional Clauses Related to Financing: Assuming an Existing Mortgage
Conditional Clauses Related to Financing: Assuming an Existing Mortgage
Conditional Clauses Related to Financing: Assuming an Existing Mortgage
Impact on Conditional Clauses Related to Financing: Time Frames
Conditional Clauses Related to Financing: Arranging a Seller Take Back Mortgage
Conditional Clauses Related to Financing: Arranging a Seller Take Back (STB)Mortgage
Seller Take Back Mortgages: Benefits to the Seller
Seller Take Back Mortgages: Benefits to the Buyer
Conditional Clauses Related to Financing: Seller Take Back Mortgages
Additional Clauses to Consider When Dealing with Seller Take Back Mortgages
Congratulations, you have completed the lesson!
Lesson 3: Supplemental Conditional Clauses
Supplemental Conditional Clauses
Supplementary Conditional Clauses: Property Inspection
Supplementary Conditional Clauses: Property Inspection
Supplementary Conditional Clauses: Property Inspection
Supplementary Conditional Clauses: Property Inspection and Market Conditions
Supplementary Conditional Clauses: Property Inspection Other Considerations
Supplementary Conditional Clauses: Insurance
Supplementary Conditional Clauses: Insurance
Supplementary Conditional Clauses: Factors Influencing Insurance
Supplementary Conditional Clauses: Insurance
Supplementary Conditional Clauses: Addressing the Sale of the Buyer’s Property
Supplementary Conditional Clauses: Addressing the Sale of the Buyer’s Property
Supplementary Conditional Clauses: Addressing the Sale of the Buyer’s Property
Supplementary Conditional Clauses: Addressing the Sale of the Buyer’s Property
Supplementary Conditional Clauses: Addressing the Sale of the Buyer’s Property
Supplementary Conditional Clauses: Lawyer’s Approval
Supplementary Conditional Clauses: Lawyer’s Approval
Congratulations, you have completed the lesson!
Lesson 4: Environmental and Zoning Conditional Clauses
Environmental and Zoning Conditional Clauses
Supplementary Conditional Clauses: Environmental Issues
Supplementary Conditional Clauses: Environmental Issues
Supplementary Conditional Clauses: Environmental Issues Related to Fuel Oil Tanks
Supplementary Conditional Clauses: Vermiculite and Asbestos
Supplementary Conditional Clauses: Vermiculite
Supplementary Conditional Clauses: Environmental Issues Related to Water and Septic System
Supplementary Conditional Clauses: Environmental Issues Related to Water and Septic System
Supplementary Conditional Clauses: Environmental Issues Related to Water and Septic System
Supplementary Conditional Clauses: Zoning
Supplementary Conditional Clauses: Zoning
Congratulations, you have completed the lesson!
Lesson 5: Summary Practice Activities
Summary Practice Activities
Congratulations, you have completed the lesson!
Module Summary
Module Summary
Module Resources
13-14.pdf
Example: Condition on Obtaining Financing – Condition Precedent
C2_M18_Completing_residential_Agreement_Purchase_Sale_Countering_Offer_Working_Competing_Offers_Print_V1
C2_M19_Additional_Sale_Related_Documents_and_Other_Legal_Obligations_Print_V1
C2_M20_Completing_Real_state_Transaction_Print_V1
Module 20: Completing Real Estate Transactions
Module 20: WELCOME TO COMPLETING REAL ESTATE TRANSACTIONS
Lesson 1: Salesperson’s Due Diligence During the Conditional Offer Period
Salesperson’s Due Diligence During the Conditional Offer Period
Interactions Between the Listing and Selling Salespersons During the Conditional Time Period
Duties of the Buyer’s Salesperson During the Conditional Time Period
Duties of the Buyer’s Salesperson During the Conditional Time Period
Leading Practices to Manage Timeline Requirements
Role of the Seller’s Salesperson During the Conditional Offer Period
Duties of the Seller’s Salesperson During the Conditional Offer Period
Duties of the Seller’s Salesperson During the Conditional Offer Period
Congratulations, you have completed the lesson!
Lesson 2: Salesperson’s Due Diligence Obligations Until the Transaction Closes
Salesperson’s Due Diligence Obligations Until the Transaction Closes
Buyer Salesperson’s Continued Due Diligence Until Day of Closing
Maintaining contact with the buyer
Co-ordinating with the buyer’s lawyer
Arranging additional visits at the property
Performing pre-closing inspection
Considering moving obligations
Seller Salesperson’s Continued Due Diligence Until Day of Closing
Maintaining contact with the seller
Co-ordinating with seller’s lawyer
Assisting the seller in fulfilling their obligations
Confirming appointments for additional inspections of the property
Making the seller aware of moving obligations
Removing the sold sign
Salesperson’s Role on Closing Day
Duties of a Salesperson on Closing Day
Congratulations, you have completed the lesson!
Lesson 3: Title Conveyance
Title Conveyance
Closing a Transaction from the Buyer’s Perspective
Completing the Title Search
Title Conveyance from the Buyer’s Perspective
Closing a Transaction from the Seller’s Perspective
Title Conveyance from the Seller’s Perspective
Statement of Adjustments
Items Apportioned in the Statement of Adjustments
Impact of Adjustments to the Purchase Price of a Property
Congratulations, you have completed the lesson!
Lesson 4: Costs Associated with Title Conveyance
Costs Associated with Title Conveyance
Buyer’s Closing Costs
Land Transfer Tax
Land Transfer Tax Calculation
Land Transfer Tax Rates
Land Transfer Tax Examples
Land Transfer Tax Examples
Municipal Land Transfer Tax
First-time Home Buyer’s Refund
Title Insurance
Overview of Title Insurance
Features of Title Insurance
Benefits of Title Insurance
Why Title Insurance is Growing in Popularity
Mortgage Discharge Penalty
Seller’s Closing Costs
Congratulations, you have completed the lesson!
Lesson 5: Trust Account Requirements
Trust Account Requirements
Real Estate Trust Account
Transfer of the Buyer’s Deposit from the Real Estate Trust Account
Flow Chart Depicting the Six Possible Disbursements
Overview of the Remuneration or Commission Trust Account
Purpose of a Remuneration or Commission Trust Account
RECO Insurance Program
Trade Record Sheet
Congratulations, you have completed the lesson!
Lesson 6: Pre-closing Issues
Pre-closing Issues
Issues That Can Occur Prior to Closing
Issues That Can Occur Prior to Closing
Change to condition of the property
Increase in buyer liability
Unforeseen circumstances affecting insurance
Missing chattels and fixtures
Leading Practices of a Salesperson to Address Challenges Affecting Closing
Restrictive Covenants and Easements Identified During a Title Search
Retaining Approvals for Financing, Insurance, etc.
Maintaining the Property Until the Transaction Closes
Resolving Issues to Ensure the Transaction Closes
Congratulations, you have completed the lesson!
Lesson 7: Next Steps if the Transaction Does Not Close
Next Steps if the Transaction Does Not Close
Mutual Release or Court Order
Obligations of a Brokerage Regarding a Mutual Release
Salesperson’s Duties when a Transaction Does Not Close
Take directions from the lawyers
Manage documents related to mutual release
Help seller to re-list and re-market their property
Congratulations, you have completed the lesson!
Lesson 8: After Closing
After Closing
Leading Practices for a Salesperson to Manage Their Career
Maintaining credibility with clients
Seek expert advice
Maintaining a business journal
Setting up a filing system
Making appropriate remittances to CRA
Congratulations, you have completed the lesson!
Lesson 9: Summary Practice Activities
Summary Practice Activities
Congratulations, you have completed the lesson!
Module Summary
Congratulations, you have completed this module!
Module Resources

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Tags: Real Estate Council Of Ontario, Course 2, Residential Real Estate Transactions