MS 4.0 hours Disclosure Is Not A Secret - Course Syllabus


Course Syllabus:

4.0 Elective Hours

A seller's disclosure statement or Property Condition Report is a detailed statement by the seller of his knowledge of the condition and features of the property. The purpose of the seller disclosure statement is to help the buyer assess the property by providing him with information regarding the condition of the property, based on the owner's knowledge. The statement is not a warranty nor is it a replacement for a professional inspection. The owners may not know everything about their property.

When an agent takes a listing, the seller is given the proper form to fill out. An agent should never fill this form out for the seller or make a single mark on the form. Copies should be put in the agent's file and in the house for other agents who may show the listing.

You already know that all contracts and agreements must be in writing to make them valid. Disclosures work the same way. Make all disclosures in writing and have them sign that they have received the disclosure and they understand it. It is hard to claim that a broker didn't make a disclosure when the broker has a copy of the disclosure with your signature on it.

Upon completion of this course, the real estate licensee will be prepared to discuss the wide variety of disclosures that may be necessary prior to and during transactions.