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Real Estate Contracts

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Real Estate Contracts

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1. Electronic signatures

The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.Two essential components of a valid contract.A contract in which all parties have fulfilled their promises and thus performed the contract.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.

2. Exclusive-right-to-sell listing

A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.A contract in which all parties have fulfilled their promises and thus performed the contract.Two essential components of a valid contract.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.

3. Offer and acceptance

Two essential components of a valid contract.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.A contract in which all parties have fulfilled their promises and thus performed the contract.

4. Executed contract

A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.Two essential components of a valid contract.A contract in which all parties have fulfilled their promises and thus performed the contract.

5. Listing agreement

The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.Two essential components of a valid contract.A contract between an owner (as principal) and a real estate broker (as agent) - under which the broker is employed as agent to find a buyer for the owner's real estate on the owner's terms - for which service the owner agrees to pay a commission.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.

6. Void contract

The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.Two essential components of a valid contract.A contract that has no legal force or effect because it does not meet the essential elements of a contract.

7. Management agreement

The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A contract between the owner of income property and a management firm or individual property manager that outlines the scope of the manager's authority.Two essential components of a valid contract.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.

8. Parol evidence

The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A rule of evidence providing that a written agreement is the the final expression of the agreement of the parties - not to be varied or contradicted by prior or contemporaneous oral or written negotiations.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.Two essential components of a valid contract.

9. Assignment

A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.The transfer in writing of interest in a bond - mortgage - lease - or other instrument.Two essential components of a valid contract.

10. Compensatory damages

Money awarded to a plaintiff to compensate for damages - injury or another incurred loss. Two essential components of a valid contract.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.

11. Contract

A legally enforceable promise or set of promises that must be performed - and if there is a breach of the promise - the law provides remedy.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.Two essential components of a valid contract.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.

12. Addendum

A document that was not part of the original contract that may contain additional terms for the contract; also called a rider.Two essential components of a valid contract.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.

13. Option

A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.An agreement to keep open for a set period an offer to sell or purchase property.Two essential components of a valid contract.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.

14. Right of first refusal

Two essential components of a valid contract.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.Right that allows the tenant to be offered the property first if the owner decides to sell at a future date.

15. Time is of the essence

Two essential components of a valid contract.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A phrase in a contract that requires the performance of a certain act within a stated period of time.

16. Net listing

A listing based on the net price the seller will receive if the property is sold. Under a net listing - the broker can offer the property for sale at the highest price obtainable to increase the commission. This type of listing is illegal in many states.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.Two essential components of a valid contract.

17. Nominal damages

A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.Two essential components of a valid contract.refers to a damage award issued by a court when a legal wrong has occurred - but where there was no actual financial loss as a result of that legal wrong. Typically - when this type of damage award is used - the plaintiff will be awarded $1 or $2.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.

18. Brokerage of agreements

Two essential components of a valid contract.A written agreement between a brokerage firm and a consumer that denies exclusivity and payment of fees. Examples include the listing agreement between a broker and a seller - a buyer agency representation agreement between broker and buyer - and a management agreement between broker and landlord.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.

19. Equitable title

Two essential components of a valid contract.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.The interest held by a vendee under a contract for deed or an installment contract; the equitable right to obtain absolute ownership to property when legal title is held in another's name.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.

20. Protection clause

Two essential components of a valid contract.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.Protects the broker's interest for a stated period of time after the expiration of the original agreement as long as the client has not signed a new agreement with another broker.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.

21. Unilateral contract

Two essential components of a valid contract.A one-sided contract wherein one party makes a promise so as to induce a second party to do something. The second party is not legally bound to perform; however - if the the second party does comply - the first party is obligated to keep the promise.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.

22. Unenforceable contract

A contract that has all the elements of a valid contract - yet neither party can sue the other to force performance of it. Example: an unsigned contract.Two essential components of a valid contract.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.

23. Specific performance

A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.Two essential components of a valid contract.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A legal action to compel a party to carry out the terms of a contract.

24. Amendment

25. Open listing

A listing contract under which the broker's commission is contingent on the broker's producing a ready - willing - and able buyer before the property is sold by the seller or another broker.The data equivalent of an actual signature; method must meet certain requirements established by the Uniform Electronics Transactions ACT (UETA) and/or federal E-Sign Acts of 2000.A listing contract under which the owner appoints a real estate broker as an exclusive agent for a designated period of time to sell the property - on the owner's stated terms - and agrees to pay the broker a commission when the property is sold - whether by the broker - the owner - or another broker.Two essential components of a valid contract.

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25 Questions

❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know? Privacy | Terms |

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All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know?
Privacy | Terms |

Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com