Notarization isn't required for a legally enforceable real estate contract. What must be present is an offer and its acceptance that mirror each other, plus consideration (something of value exchanged), a legal purpose, and competent parties. In real estate, the Statute of Frauds also requires the agreement to be in writing and signed to be enforceable; notarization can help prove who signed and when, but it does not by itself create enforceability. So, while notarization can be useful, it is not an essential element like offer, acceptance, and consideration.

Understanding agency relationships in real estate starts with the idea that there are different ways a licensee may represent people in a transaction, and with what duties the licensee owes those people. The Consumer Guide to Agency Relationships is a disclosure that helps consumers see the full picture: the types of agency relationships available (such as buyer’s agent, seller’s agent, dual agency, or designated agency) and the duties the agent owes to a client under those arrangements. This helps buyers and sellers decide who will represent them and what to expect in terms loyalty, confidentiality, disclosure of information, and the duties the agent has to act with honesty and reasonable care. This is why the best description is that the guide informs consumers about both the kinds of agency relationships that exist and the agent’s duties to a client. It’s not merely a warning about dual agency, nor is it only about duties to the client, and it isn’t itself a consent form to establish an agency relationship.

A general warranty deed provides full covenants against defects. It guarantees clear title against any defects that could affect ownership, even those stemming from before the grantor’s time, and it commits the grantor to defend the title if claims arise. This deed typically includes covenants of seisin (ownership), against encumbrances, further assurances, quiet enjoyment, and warranty of title, offering the broadest protection to the grantee. Other deeds provide narrower protections: a special warranty deed covers only defects that occurred during the grantor’s ownership; a quitclaim deed transfers whatever interest exists with no covenants; and a bargain and sale deed generally carries little to no title warranties. So, for the strongest protection against defects, the general warranty deed is the best choice.

Valuing a home by comparing it to recently sold, similar properties and adjusting for differences is the key idea here. A Comparative Market Analysis is the method real estate professionals use that aligns most closely with the sales comparison approach used by appraisers. A CMA looks at comps—properties like the subject that have sold recently—and uses those sale prices, along with adjustments for features, conditions, and market conditions, to estimate a competitive listing or selling price. This mirrors the appraiser’s method of deriving value from what similar homes actually sold for. The other methods operate differently. An Automated Valuation Model relies on algorithms and broad data to generate an estimate, not the nuanced, comp-specific adjustments a CMA provides. A Broker Price Opinion is a quick lender-focused estimate and tends to be less thorough than a CMA. The Cost Approach builds value from the cost to replace the improvements minus depreciation, which is not how the sales comparison method determines value.