The Mortgage Contingency Clause and Ethical Issues in Residential and Commercial Real Estate Contracts

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SKU: REL3300 Back to Course Listings
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Virgin Islands CLE
Accreditation Info

United Institute for Continuing Legal Education offers CLE courses accredited in many states throughout the country. Attorneys licensed in the Virgin Islands may earn 20 credit hours with us. To view our full accreditation details please .

All Courses Available iOS/Android Web

All Courses Available iOS/Android Web

About This Course

Real estate deals are notorious for falling through. Whether commercial or residential, there are countless contingencies for buyers and sellers to be aware of. This CLE course will review, in detail, potential pitfalls such as environmental issues, lack of certificate of occupancy, failed mortgage applications and contractual issues that can delay or even nullify an agreement.

Topics include:

  • May the Buyer Apply to a Mortgage Broker?
  • How Soon Does the Buyer Need to Apply?
  • What if the Buyer Obtains a Commitment in a Different Amount than Provided in the Contract?
  • Conditional Commitments: Do they satisfy the contract?
  • Commitments Given, then Revoked by Lender
  • Ethical Issues Regarding the Mortgage Commitment Contingency Clause
  • Ethical Issues in Residential and Commercial Real Estate Contracts: Duty to Communicate, Retainers, Dealing with Opposing Counsel, and Truthfulness

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