FR/Florida Bar Contract (Foundational)

by itself won’t accomplish the objectives of the parties.

• Identify and accurately complete the appropriate addenda to use in any specific situation.
• Explain the differences between assignment with recourse and without recourse.
• List the timelines and parties for notification regarding mortgage commitments.
• Define the difference to a buyer or seller of cosmetic V functional deficiency.
• Accurately calculate the down payment and financing acquired to achieve the agreed upon price and terms.
• Explains the rights of a seller regarding repairs in an AS-IS contract.
• List the options available to a buyer when a seller defaults on a contract.
• Contrast the difference between funding at closing and closing in escrow.
• Allocate closing costs between the parties.
• List the times (number of days) for cancellation between a condominium resale and a newly constructed condominium.
• Define the difference between mediation and binding arbitration.

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