Parties to Real Estate Contracts | Real Estate Exam Prep Videos
Вставка
- Опубліковано 21 тра 2020
- This real estate exam prep video identifies the legal term for the parties to real estate contracts. Key real estate terms discussed in this video:
Offer to Purchase: Offeror & Offeree
Purchase Agreement: Grantor & Grantee
Land Contract: Vendor & Vendee
Option Contract: Optionor & Optionee
Mortgage: Mortgagor & Mortgagee
Deed of Trust: Trustor, Trustee & Beneficiary
Lease Agreement: Lessor & Lessee
Assignment of Contract: Assignor & Assignee
✅ Subscribe for more FREE tips on how to do UA-cam better:
ua-cam.com/users/therealestate...
➡️More Real Estate Exam Prep Videos
/ @therealestateclassroom
🛑Real Estate Exam Prep Video Mentioned in this video:
Assignment of Lease and Subleasing
• Assignment of Lease an...
💕My Most Watched Videos:
Real Estate Agent Bookkeeping Spreadsheet - Updated for 2020
• Real Estate Agents Boo...
👉 The Real Estate Agent's Business Plan Template:
• (Part 1) Real Estate A...
You can find me hanging out most days on Facebook!
Facebook: / askpaulv
New real estate exam prep videos uploaded 2-3x per week to students pass their real estate exam. Feel free to leave a comment, suggestion, or questions asked in the comment section.
Email me: PaulVojchehoske@gmail.com
Paul Vojchehoske
Mr. Real Estate Seminars, Inc.
The Real Estate Classroom
P. O. Box 540725
Omaha, NE 68154
(402) 660-0395
This description may contain affiliate links to products we enjoy using ourselves. Should you choose to use these links, this channel may earn affiliate commissions at no additional cost to you. We appreciate your support!
P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.
Cheers,
Paul Vojchehoske
More study materials at TheRealEstateClassroom.com
Join us on Facebook: facebook.com/TheRealEstateClassroom
Thanks for this !!! It’s a good way!! There are too many people in this party😅 grantor , vendor, mortgagor and so on. Super easy 🙌
You're welcome! Keep on studying! ;o)
Thank you SO SO MUCH. I was very confused about whether the listing contract is unilateral or bilateral because whenever I researched there were different answers to it. Glad to hear we will not be tested on that!
You're so welcome! In fact, if you read a variety of law books... one says their a unilateral the other says bilateral....
You're good at explaining things. Thank you Thank you Thank you. I wish I could subscribe 1000 times. 😊🙏
On the test, their is a question about an option contract, asking if it’s bilateral or unilateral.
For the purposes of the real estate exam... an option contract is a unilateral contract
I love your videos.
Thank you, Renee... I appreciate you leaving a comment!
So helpful
What about ur laws about agents whom work with ur company
why is the option contract a unilateral contract? Can you give an example?
Because it's binding on 1 party but not the other.... the optionor is bound by the option contract NOT to sell the property within the stated time frame BUT the optionee may or may not exercise the option....
I have a dumb question? Is a Purchase contract the same as Sales contract? Or different contract? Please clarify, thank you
Not a dumb question at all.... yes a sales contract is also known as purchase contract, purchase agreement, offer of sale, purchase offer and I am sure there are others 😁
@@TheRealEstateClassroom thank you so much for taking the time to clarify! Your videos are GREAT! It has help me a lot.
Thank you 🤗
@@silviasaucedo6092 you're welcome
listing agreement is a billateral contract duuhhhh a promise for a promise stop trying to be diffrent its Billateral
Interesting... but it's not. A bilateral contract is enforceable on all parties once it's agreed to... a unilateral contract requires a triggering event such as a listing. A commission owed is not owed until a buyer is procured (the triggering event). The good thing is... I've spoken with subject matter experts from PSI and PearsonVUE and all said there is not a question regarding this since it's debated even among law school texts.... Thanks for the comment