Contract Formation PrinciplesCornell Course

Real estate transactions and the contracts that summarize them can be complex. There are many players and stakeholders who must perform as well as any number of terms and contingencies that must be satisfied in order for an agreement to be finalized and a property to change hands.

In this course, you will examine the elements of real estate contracts in order to gain a deeper understanding of the contract life cycle, the parties involved, and the common terms and conditions associated with both residential and commercial transactions. Throughout, you will evaluate sample real estate transactions and situations in order to determine what might happen if one or more of the contractual contingencies is not fulfilled by one of the parties. You will also explore the relationship between a real estate purchaser and future owner and their attorney so that you can be better prepared to hire and interact with legal counsel when you are ready to purchase a property for personal or commercial use. By examining the key players, terms, and conditions, you will be better equipped to discuss and negotiate residential and commercial real estate transactions.