8 Week #6: May 4-9
8.1 Class #15 (Mon. May 4)
Last Updated: May 4
Quiz 1 Feedback & Grades Please watch this video on how to understand and interpret the feedback on Quiz 1.
Review from Last Week Before we get into the new material, I have a video for you regarding a case we read last week. I made this video based on a question from a student on clarifying the rules in Kandall v Ernst.
VIEW: Monday-Video 1: Kandall v Ernst
Video length: 5 mins Questions: 0
I. Selling Real Estate
A. Background
Your textbook provides you with a short overview of the process of selling real estate. I think you would benefit from some additional context, since many of you have not purchased real estate before. To provide that to you, I did a short Q/A session with a North Carolina realtor, Deidre Vars, where we go through the process of purchasing a residential home. VIEW: & 
DO: Monday-Video 3: Overview of the Selling Process
Video length: 15 mins.
Questions: 1
Total Estimated Time to Complete: 20 mins
So, time for me to define some of those terms that you heard Deidre and I toss around. Let’s say you see a house (Greensboro Manor) for sale that you like. You make an offer to purchase Greensboro Manor and the seller accepts your offer. You will then enter into a Purchase Contract that sets out the terms of the sale.
VIEW: Watch this video on what a typical Purchase Contract looks like.
Once you have executed your Purchase Contract (aka a purchase agreement) you begin escrow. Escrow remains open until all of the contingencies are satisfied. A common contingency is buyer’s inspection (where a buyer can higher a professional inspector to make sure there are no defects in the property or conduct a termite inspection).
Watch this quick video on what escrow is….
A. Purchase Contracts
VIEW: & DO: Video 3: Purchase Contracts Explained
Video length: 15 mins.
Questions:0
Total Estimated Time to Complete: 15 mins.
VIEW: & DO: Video 4: Purchase Contracts & the Statute of Frauds
Video length: 12 mins.
Questions: 0
Total Estimated Time to Complete: 12 mins.
B. Marketable Title
VIEW: & DO: Video 5: Marketable Title
Video length: 13 mins.
Questions: 4 Hypos, but they don’t require you to input the response
Total Estimated Time to Complete: 13 mins.
Due Sunday, May 10 by 11:59 pm.
8.2 Class #19 (Wednes. May 6)
Before we get back into selling real property, I wanted to answer an excellent question that was posed in our discussion thread last week. It provides a good review over a couple of concepts and compares them. VIEW: W-V1:Adverse Possession v Tenancy at Sufferance.
Video length: 9 mins
Questions: 0
Total Estimated Time to Complete: 9 mins.
C. Equitable Conversion
VIEW: W-V2: Selling Property: Seller’s Duty to Disclose & Buyer’s Acceptance of Risk
Video length: 30 mins
Questions: I suggest pausing the video and doing the hypothetical problems, but you will not be required to write them out and submit them.
Total Estimated Time to Complete: 40 mins.
D. Introduction to Closings & Title Searches
Barbara Stewart, a local real estate attorney, was nice enough to explain closings and title searches in a Q/A with me. Because Webex did not record the video for some reason, all I have is an audio recording. So, we will pretend that it is a podcast. (For exam purposes you don’t need to worry about the wills problems she talked about.) VIEW: W-V3: Selling Property: Closings & Title Searches
Video length: 30 mins
Questions: I suggest pausing the video and doing the hypothetical problems, but you will not be required to write them out and submit them.
Total Estimated Time to Complete: 40 mins.
Due Sunday, May 10 by 11:59 pm.
8.3 Class #20 (Fri. May 8)
VIEW:Friday-Video 1- Selling Real Property: The Closing
Video length: 17 mins
Questions: I suggest pausing the video and doing the hypothetical problems, but you will not be required to write them out and submit them.
Total Estimated Time to Complete: 25 mins.
VIEW:Friday-Video 2-Selling Real Property: Title Assurance: Title Covenants
Video length: 15 mins
Questions: I suggest pausing the video and doing the hypothetical problems, but you will not be required to write them out and submit them.
Total Estimated Time to Complete: 25 mins.
VIEW:Friday-Video 3-Selling Real Property: Title Assurance: Title Opinions–Part I
Video length: 25 mins
Questions: I suggest pausing the video and doing the hypothetical problems, but you will not be required to write them out and submit them.
Total Estimated Time to Complete: 50 mins.
Due Sunday, May 10 by 11:59 pm.
This next video includes Monday’s reading as well, so it won’t be due until Monday evening.
VIEW:Friday-Video 4-Selling Real Property: Title Assurance: Title Covenants & Title Insurance
Video length: 25 mins
Questions: I suggest pausing the video and doing the hypothetical problems, but you will not be required to write them out and submit them.
Total Estimated Time to Complete: 50 mins.Due Monday, May 11 by 11:59 pm.
INTERACT: Friday, May 8 at 10:00 am Live Q/A Session.