Commercial Transactions and Contracts (NEW COURSE 2015)
The Hawaii Association of Realtors (HAR) has created the Purchase Contract (PC) formerly known as the DROA for residential transactions. HAR has also create a special contract for commercial properties known as the Purchase Sale Agreement (PSA). The PSA is very different from the PC and Realtors should be aware of the differences between the two contracts. Example: PC gives the buyer the option of who selects and pays for the Termite Inspection Report (TIR). The PSA dictates that the Buyers pay for the inspection and recommended treatment which is totally different from the PC. In the PC, the title insurance is split 60-40% between seller and buyer. The PSA splits the title insurance 50-50% between seller and buyer. These are just some of the differences in the two contracts. Do not do a commercial contract without knowing the content. Course will many important topics regarding commercial transactions.
The REC has a new ruling that agents can take the same CE class every other biennium which is different from the old law that stated that agents could never repeat the same class. >> Check your credited course history and CE status.
If you have further questions or concerns about any material listed here please contact Abe Lee Seminars using any method listed below.