Real Estate Disclosure Laws | Michigan

$29.00

3 Legal Updates Credit Hours | Online Fully Narrated Class | No Tests | Instructor:  Jenny Mac Dowell
This course covers the disclosure laws Michigan real estate agents must adhere to, transactions in which they will come across these requirements and case law to illustrate real-life scenarios.
NARRATED COURSE DETAILS

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

 


Course instructors will be available by email or telephone between 9am and 5pm 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@traininginstitutesedu.com. Email responses will usually be returned promptly, but guaranteed within one business day.

Student policies and procedures are always available by going to www.realestatetraininginstitute.com and scrolling to the bottom of the page (See Privacy and Refund Policy).

 
227,837 Courses Taken
I thought your course was great! It’s easy to understand, simple and efficient.  See you in two years!
Angelica Dutra from Sunrise, FL
 
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