Michigan Continuing Education COURSE
Online: Property Conditions and Disclosures in Michigan
Whether you represent the buyer or the seller in a real estate transaction, your role regarding the seller’s property disclosures, as well as the home inspection, is vital to protect the interests of you client. A naive seller may think “as-is” means it’s okay to not disclose known material defects. A too-anxious buyer may think the seller’s disclosures are enough, and a home inspection is unnecessary.
To protect sellers from liability and buyers from buyer’s remorse over a problematic property, you'll want to explain the importance of honest disclosure and inspections. Your expertise will also help protect your clients, your brokerage, and yourself from the potential for legal problems down the road.
This two-hour course covers topics related to property condition disclosures, inspections, Michigan’s Seller Disclosure Act, and the Seller’s Disclosure Statement.
Course highlights include:
- The Michigan Seller Disclosure Act and Seller’s Disclosure Statement
- The licensee’s role in property disclosures
- Sellers’ requirements to disclose and what can happen when disclosure is withheld
- What to look for during property inspections that may signal structural or system issues, code violations, and unpermitted alterations
- Issues related to encroachments and easements
- Environmental concerns, such as lead, mold, asbestos, radon, underground storage tanks, and water contamination
- Material facts and stigmatized properties in Michigan