Description
Real Estate Disclosure Laws
COURSE SYLLABUS
Course Description
Real estate agents are subject to a broad range of legal and ethical requirements that are designed to protect buyers, sellers and the community at large. While disclosure laws are in place to protect the consumer, they constitute a legal framework that real estate professionals must comply with. There are a number of areas that require disclosure in real estate: seller’s property condition, agency relationships, lead-based paint presence, mineral/subsurface rights, and finally consumer financing requirements. This course covers the disclosure laws that real estate professionals must adhere to, the transactions in which they will come across these requirements, and case law to illustrate real life scenarios.
After completing this course participants will be able to:
- Recognize and implement the broad range of disclosure requirements that protect buyers and sellers.
- Be able to describe and integrate the agency relationships that are created during a real estate transaction.
- Outline the different types of agency and the standards of practice associated with each.
- Know when and under what circumstances lead-based paint disclosure must be provided.
- Have a good understanding of what mineral/subsurface rights are, and how they can impact a real estate transaction.
- Be able to share with clients the necessary requirements outlined under the integrated disclosure rule “Know Before You Owe.”
REAL ESTATE DISCLOSURE LAWS
SELLER’S DISCLOSURE
Lesson 1 (12 minutes)
1. Overview
2. Defects
3. Common Defects and Examples
Lesson 2. (13 minutes)
1. Stigmatized Properties
2. Exceptions
3. Examples
Lesson 3 (13 minutes)
1. As-Is Clauses
2. Forms
3. CLUE Report
Lesson 4 (12 minutes)
1. Case Study
2. Recent Changes to Statutes and Regulations
AGENCY DISCLOSURE
Lesson 1 (14 minutes)
1. Agency Disclosure Overview
2. Fiduciary Duties
3. Disclosed Dual Agency
Lesson 2 (20 minutes)
1. Case Study
Lesson 3 (13 minutes)
1. Case Study
Lesson 4 (12 minutes)
1. Case Study
LEAD PAINT DISCLOSURE
Lesson 1 (17 minutes)
1. Seller and agent duties
2. Pamphlets and forms
3. Checklist
4. Case Study
5. EPA and HUD Notification and Disclosure Rule FAQs
MINERAL RIGHTS DISCLOSURE
Lesson 1 (19 minutes)
1. Overview
2. Impact on homeowners
3. Requirements
4. Case Studies
INTEGRATED DISCLOSURE
Lesson 1 (11 minutes)
1. Overview
2. NAR Position
3. Loan Estimate
4. Closing Disclosure
5. Best Practices
Final Assessment: 10 minutes
Customer service will be available by email or telephone between 8am and 6pm Eastern Standard Time. They will assist you with questions regarding course content.
If you have any questions, please call us at 1-800-727-7104 or send an email to info@onlinecti.com. Email responses will usually be returned promptly, but guaranteed within one business day.
Student policies and procedures are always available by going to our website and scrolling to the bottom of the page (See Attendance, Privacy and Refund Policy).
