This comprehensive new primer will provide you with everything you need to know to handle the innumerable matters involved in residential real estate practice. Designed as our introductory course, this seminar provides an overview of the entire sale transaction, from contract through closing. In the process, you’ll learn proven strategies for avoiding common mistakes, overcoming problem situations, and effectively and efficiently handling residential real estate transactions.

Learn everything you need to know to confidently handle residential real estate transactions in your practice, including

Contract of Sale
- Pre-printed forms of contract
- Negotiation and amendment of contract
- Three-day attorney review period
- Deposit monies
- Inspections
- Contingencies
- Representations and their survival
- Warranties
- Zoning and permitted uses
- Quality of title
- Exculpatory provisions
- Brokerage commissions
- Time of the essence
- Default
- Occupancy of Property prior to or after closing.

Preparation for Closing
- Contract contingencies
- Title searches
- Survey
- Mortgage requirements and commitment;
- Title commitment
- Calculating adjustments.

Closing Documentation from Buyer
- Notice of settlement
- Mortgagor’s affidavit of title
- Mortgagee’s documents
- Compliance with mortgagee’s requirements
- Documentation to remove title exceptions
- Homeowners insurance and paid premium receipt
- Preparation of HUD-1 Uniform Settlement Statement
- Funds due from buyer

Closing documentation from Seller
- Deed
- Affidavit of title
- Survey affidavit
- Documentation to remove title exceptions
- IRS form 1099
- Approval of HUD-1 Uniform Settlement Statement
- Deliveries to buyer of certificate of occupancy, smoke detector certificate real estate tax bill, unexpired warranties and keys

Title and Mortgage Closings
• Time and place of closings
• Title “rundown”
• Approval of mortgagee for closing
• Mortgagee’s closing figures
• Transmission of closing package and funds
• Compliance with mortgagee’s final closing instructions
• Mortgagee’s documentation
• Payments to mortgagee
• Title closing

Post-Closing Procedures
• Submission of documents for recording
• Payoff of seller’s mortgage
• Return of mortgagee’s closing package
• Documentation required by title insurance company
• Payments to third parties
• Follow-up on recorded instruments
• Cancellation of seller’s mortgage
• Owner’s and mortgagee’s policies of title insurance

Note: The corresponding book for this program is “Real Estate Closing Procedures (2008)” from NJICLE’s Skills and Methods Course. If you have recently purchased the handbook, please feel free to select from the other registration options.