Bob Baker - Contract Class (12/1/2015)

Bob's Handout (PDF DOWNLOAD)

The videos illustrate and follow along with Bob showing his changes to the contracts on the side. Download the PDF handout he provided right here (15MB PDF) to follow along.

 

There are 11 total videos that cover Bob's contract class. Scroll Down to begin watching them in order. If you wish, you can hop over to the youtube playlist off our KW Plano Technology YouTube Channel


1 - Introduction

Bob begins with a general statement on 'Why do we change contracts?' and introduces the types of contracts that he will be presenting during this class including:

  • 1-4 Family Contract
  • 3rd Party Financing Addendum
  • Amendment Form
  • Notice of Termination of Contract Form

Content Notes
2 pages out of the Condominium Contract
1 page our of Farm and Ranch Contract
change date is 11-2-2015
The effective/manditory date is January 1, 2016 (except for 2)
From the TAR website: Trec and TAR forms that were revised.

1 - Introduction (5:36)


2 - One to Four Family Residential Contract (Resale)

Content Notes

  • Blue - New
  • Red - Eliminated
  • Changes to Paragraph 3 and 4.

2 - One to Four Family Residential Contract (Resale) (9:10)


3 - One to Four Family Residential Contract (Resale)

Content Notes

  • Changes to Paragraph 6
  • Paragraph 6e (10) Notice of Water Level Fluctuations
  • Paragraph 7 - Hydrostatic Testing

3 - One to Four Family Residential Contract (Resale) (10:50)


4 - One to Four Family Residential Contract (Resale)

Content Notes

  • Changes to Paragraph 9
  • Paragraph 9e (10) Notice of Water Level Fluctuations
  • Paragraph 10 - Buyer's Possession

4 - One to Four Family Residential Contract (Resale) (6:02)


5 - One to Four Family Residential Contract (Resale)

Content Notes

  • Paragraph 18 D - triple damage taken out
  • Paragraph 21 - phone, fax - reminder of what the purpose of 21 is used for.
  • Paragraph 22
  • Paragraph 23 - CLAP 5:00pm and it's impact on buyers option period. Cutting it back to 5:00pm on the last day.
  • Page 9 - Added License Numbers

5 - One to Four Family Residential Contract (Resale) (8:10)


6 - 3rd Party Financing Addendum

Content Notes

  • A 1-6
  • B 1 Buyer Approval - Conversation on it's relevance to the term and now removed 'credit'
  • B 2 Property Approval
  • B 3 Tim is of the essence for this paragraph and strict compliance with the time for performance is required.

6 - 3rd Party Financing Addendum (11:47)


7 - 3rd Party Financing Addendum

Content Notes

  • D - Authorization Release moved to the bottom - Explanation - red line version has 3 pages.
  • E - Authorization to Release Information

7 - 3rd Party Financing Addendum (7:12)


8 - Amendmnet, Notice of Buyer's Termination of Contract, Residential Condominium Contract (Resale)

Content Notes

  • Follow along with the downloaded attachment

8 - Amendment, Notice of Buyer's Termination of Contract, Residential Condominium Contract (Resale) (6:34)


9 - Information About Brokerage Services

Content Notes

  • Follow along with the downloaded attachment

9 - Information About Brokerage Services (5:17)


10 - Moving Forward with the Transition

Content Notes

  • All forms become manditory on January 1, 2016
  • Discussion on the usage of correct and incorrect forms between a buyer and seller
  • How does an agent know there are new forms?

10 - Moving Forward with the Transition (9:07)


11 - Conclusion & Short Review/Suggestions

Content Notes

  • Follow along with the downloaded attachment

11 - Conclusion & Short Review/Suggestions (0:48)

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