The 1- 4 Family Contract has several paragraphs that require disclosure to protect both the buyers and sellers in a transaction. Students will learn that Paragraph 2 provides descriptions of the items that shall remain with the dwelling or are exclusions. Agents and brokers must help their clients understand what conveys or not. Additionally, Paragraph 4 defines what leases may apply. Due to the cost of installation, Solar equipment often causes major issues in a transaction. Every agent should know what information they should have prior to completing the form. Additionally, every agent should have consulted with lenders to get assistance in completing Paragraph 4 as well as the addenda that go with the contract. Students will review and understand how Paragraph 9 and 10 also protects consumers about leased items.
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