About This Chapter
Engaging in Real Estate in Virginia - Chapter Summary
This chapter covers key information related to real estate sales in the state of Virginia. You can explore specific laws and practices as well as continuing education requirements. By the end of this chapter, you should be familiar with:
- Specific licensing and educational requirements expected of real estate agent and supervisors in Virginia
- How Virginia handles improper dealings and brokerage
- Unique laws and regulations in Virginia related to escrow and disclosure
- Specific laws such as the Virginia Fair Housing Law and the Virginia Real Estate Transaction Recovery Act
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1. Virginia Real Estate Broker Licensing: Requirements, Renewal & Maintenance
This lesson will discuss real estate licensing requirements for brokers, as well as post-licensing requirements, and define what different real estate license types and licensing statuses are in Virginia.
2. Virginia Real Estate Disciplinary Procedures & Sanctions
There are specific guidelines in Virginia for improper brokerage commission and improper dealing. These actions can result in disciplinary action and sanctions. Learn about those punishments in this lesson.
3. Record Keeping Requirements in Virginia Real Estate
This lesson will discuss record keeping requirements in Virginia real estate, and explain why records must be inspected and audited, and who conducts the auditing and inspection.
4. Escrow & Disclosure in Virginia Real Estate
In this lesson we will examine specific Virginia real estate law regarding real estate agent responsibilities for escrow account management and property disclosures.
5. HOA & POA Disclosures in Virginia Real Estate
This lesson will describe the requirements for HOA/POA disclosures in Virginia real estate. We'll also discuss the permitted timing for review or cancellation as well as acceptable delivery methods.
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Other chapters within the Virginia Real Estate Salesperson Licensing Exam: Study Guide course
- Property & Land Characteristics
- Air, Mineral & Water Rights in Real Estate
- Liens & Encumbrances in Real Estate
- Types of Property Ownership
- Regulation of Environmental Hazards in Real Estate
- Property Valuation & Appraisal
- Basic Real Estate Financing Terms & Concepts
- Types of Real Estate Loans
- Lending & Underwriting Processes
- Agency Relationships & Agreements
- Disclosures of Property Conditions
- Real Estate Sales Contracts
- Leasing & Property Management
- Real Estate Title Transfers
- Real Estate Practices
- Common Real Estate Calculations
- Virginia Agency Law
- Virginia Real Estate Laws
- Virginia Real Estate Salesperson Licensing Exam Flashcards