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How Disclosure, Waiver, and As-Is All Work Together

How Disclosure, Waiver, and As-Is All Work Together

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Course Credit Hrs.
How Disclosure, Waiver, and As-Is All Work Together 1.50
Learn what you must disclose, what is exempted, and the consequences you could face for not doing so. 
Description
Outline
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  • Do you understand when, and whether, the information you have about a property is considered “material?” This course will help you understand what to disclose, and to know when you should discuss this matter with your broker and/or company attorney. You’ll also discover what “as-is” agreements cover, and when a buyer’s waiver may be appropriate. 
  • The objective of this course is to help you understand when you and your clients are obligated to make certain disclosures, and in which form those disclosures should be made. You will also learn if and how disclosure obligations and seller warranties are affected by an addendum that stipulates the buyer will accept the property “as-is.”

    Section 1 - Licensee Disclosure
    Chapter 1 - Material Fact Disclosure
    Chapter 2 - Exemptions
    Chapter 3 - Consequences

    Section 2 - Seller Disclosure
    Chapter 1 - Material Fact Disclosure
        • Property and Transaction Type
        • Options
        • Update Requirement
        • Other Statutory Required Disclosures
    Chapter 2 - Exemptions
    Chapter 3 – Consequences

    Section 3 - Purchase Agreement Language
    Chapter 1 - Walk Through Language
    Chapter 2 - "Risk of Loss" Language
    Chapter 3 - Effect of Waiver

    Section 4 - As-Is Addendum
    Chapter 1 - Use
    Chapter 2 - Other Warranties in the Purchase Agreement
    Chapter 3 – Effect
  • Lynn Leegard is an attorney, specializing in real estate law, and a Minnesota real estate broker. She is a Graduate of the Realtors Institute (GRI), and is a Certified Commercial Investment Member (CCIM). She has served on several committees at the local, state and national association of Realtors®.  Lynn has served as the president of the Minnesota Association of Realtors® and Regional Vice President for the National Association of Realtors®.  She has taught real estate courses since 1994, and continues to teach live classes for MNAR.

Requirements


According to MN Statute 45.30 (c), “A Licensee must not receive credit for more than eight hours of continuing education in one day.” The date you receive credit for our courses is the date you complete the final exam, according to Central Standard Time. It is your responsibility to keep track of how many credits you have earned each day.

Continuing Ed Express will submit your MN real estate continuing education course completions to the Minnesota Dept. of Commerce through Pulse Portal. Please enter your correct MN real estate license number at the end of each course in order to avoid delays in reporting. Visit PulsePortal.com to review your CE course completion history. 

View details about the Minnesota CE Required Module on the MN Dept. of Commerce's website. Visit the Minnesota Department of Commerce website for more information about continuing education requirements. 

Need to get your real estate license? See MN Pre-License courses.


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