OH 6.0 hours Avoiding Common Mistakes Course Syllabus
6.0 Elective Hours
When should you seek legal advice when writing a purchase and sale agreement?
It is very important for real estate licensees and brokers to practice real estate within the limits of their licensure. Giving legal or tax advice without being an attorney or an accountant is forbidden. When writing a Purchase and Sale Agreement, here are some guidelines for deciding when to seek the advice of a competent real estate attorney. First, consult with your designated broker or managing broker regarding the issue and find out if they feel that legal advice is necessary.
Some instances where outside legal assistance may be necessary either for you or your client include issues that reach beyond the competence of the licensee and designated/managing broker, when the offer requires additional written language which is beyond the framework of preprinted forms, and title issues such as judgments or clouds (imperfections) on the title.
This course focuses on assistance for the real estate professional and when they should seek advice or seek assistance in their daily careers. Notes, tips, and hints were provided to enable the student to have a better understanding of the assistance available to them.