AAR - Vacant Land/Lot Purchase Contract
(August 2007 Form)
3 hours credit of Contract Law

The objectives of AAR's Land Contract is to provide the student with an understanding of the AAR's Vacant Land/Lot Purchase Contract. Understanding the fine print in this form is imperative when confronted with questions from buyers and seller. Therefore, each of the 9 sections of the AAR contract will be thoroughly reviewed.

Summary of Sessions
Session 1Introduction/Property Section
Session 2Financing Section
Session 3Title and Escrow Section
Session 4Disclosure Section & SPDS Form
Session 5Warranties and Due Diligence Section
Session 6Remedies/Additional Terms and Conditions/Acceptance Section

Course Documents and Reference Materials

  • AAR Vacant Land/Lot Purchase Contract
  • Addendum regarding Subdivided and Unsubdivided Land
  • Cover sheet to Addendum regarding Subdivided and Unsubdivided Land
  • Seller Advisory
  • Buyer Advisory
  • Affidavit of Disclosure
  • House Bill 2644 - Affidavit of Disclosure
  • Loan Status Report (LSR)
  • Assumption/Carryback Addendum
  • Buyer's Inspection Notice and Seller's Response (BINSR)
  • Domestic Water Well Addendum
  • Domestic Water Well Addendum (SPDS)
  • Seller Property Disclosure Statement (SPDS)

    In order to pass this class and receive your Educational Certificate, the student must complete all sessions by reading the material online and completing the quizzes at the end of each session.  After all sessions have been completed, the student can then proceed to take their Final Exam, which consists of 50 questions taken from the completed sessions.

    You must pass the Final Exam with a score of 80%, which will indicate that you have read and completed your assignments.  You can retake the final until you pass.

    Once you pass your Final Exam, you can then click on the Certificate Link and receive your Educational Certificate for 3 hours of credit in Contract Law, IMMEDIATELY.



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