Page 5 - New Agent Real Estate training book

Most Common Forms used in a Real Estate Transaction

Below are the most common forms you need as an agent. Mastering the names and purpose of these
forms will help you differentiate and understand how and when to use them. There are other forms
and documents that may be needed, but these comprise 90% of the forms you will be using day-to-day.

Disclosures

110 SC Disclosure of Real Estate Brokerage Relationship (Agency Disclosure)
Explains the relationship and duties between brokers and clients
230 SC Residential Property Disclosure
Form disclosing to prospective buyers any known/past issues with a property, filled out by seller
115 Dual Agency
Form disclosing to buyer and seller that both agents are with the same brokerage
315 Lead Based Paint Disclosure (if built before 1978)
Form disclosing lead paint could have been used in the property
223 Flood Disclosure
Form disclosing property is located in flood zone, flood insurance may be required for buyer
---- Beachfront Management Act (if oceanfront)
Form that explains oceanfront property owners don’t own the beach, building restrictions exist

Purchasing Documents
130 Exclusive Buyer Agency
Agreement that you will work for a client as their buyer agent
300 Sales Contract - condo/residential/ 310 Sales Contract - Residential/330 Sales Contract - Land
Offer/contract agreement between a buyer and seller for purchasing a property

Listing Documents
220 Listing Contract – Exclusive Right to Sell Listing Agreement
Agreement that you will work for a client as their seller/listing agent

Addendums to a contract
503 Bill of Sale
Form used for transferring personal property conveying at closing, like furniture
390 Addendum
Form used for additional contingencies not addressed in the sales contract

Termination Agreements
250 Conditional Release from Listing
Form needed to terminate a listing agreement
518 Release of Agreement
Form needed to terminate a sales contract

Office Documents
---- Status Sheet
Form used in the office that summarizes the details of a transaction
---- Change Form
Office form authorizing any changes to a listing in MLS