About This Chapter
Property Disclosures in Real Estate - Chapter Summary
This chapter takes the many complicated aspects of disclosures in real estate and makes them easy to remember. You'll cover federal and state disclosures, as well as those relating to environmental health hazards and contaminated property. By the end of the chapter you will be able to:
- Describe required property disclosure documents and forms
- Explain mandatory federal and state disclosures
- Outline environmental risks related to real estate
- Define restrictions placed on contaminated property
- List required environmental disclosures
Our professional instructors have broken down the topic of disclosure into easy-to-digest lessons that clearly explain each of the areas that could be on your exam. You will be able to spend as much or as little time as you need to review the chapter, and the self-check quiz at the end of each lesson can help you know when you're ready to move on to the next.
1. Mandatory Federal & State Disclosures in Real Estate
This lesson will explore common mandatory disclosures required in real estate sales. The federal government and individual states set disclosure requirements. The major disclosures required involve lead paint, asbestos, wetlands, and floodplain disclosures.
2. Property Disclosure Documents & Forms Required in Real Estate
A home or property is the largest purchase most people will make. Disclosures are necessary to help provide information, explain problems, or identify factors that may affect the transaction. Learn about those disclosures in this lesson.
3. Environmental Health Hazards & Risks in Real Estate
There are many environmental hazards and risks that are very important in Real Estate. Many of these hazards have disclosure laws while some do not. Real estate buyers and/or tenants need a real estate agent that is informed enough to ensure they are buying safe property.
4. Contaminated Property Restrictions in Real Estate
The EPA oversees restrictions regarding the sale of contaminated property. There are several acts under the Superfund/CERCLA to ensure that property owners and buyers are protected from environmental hazards. Through the EPA website, any buyer or real estate agent is able to review this legislation to ensure that they are informed and fully prepared to buy safe and hazard-free property for themselves and their family.
5. Environmental Disclosures in Real Estate
Although state laws vary, there are common environmental disclosures that sellers and agents must provide to buyers. In this lesson, we will look at some of these common disclosures along with how and when the buyer receives the information.
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Other chapters within the Alabama Real Estate Broker Pre-License Exam: Study Guide & Practice course
- Alabama Real Estate Licensure
- Alabama Real Estate Law & Statutory Requirements
- Alabama Real Estate Violations & Disciplinary Actions
- Understanding Agency Relationships & Agreements in Real Estate
- Ethical Conduct & Professional Duties in Real Estate
- Fundamentals of Business Planning
- Human Resource Management for Real Estate
- Real Estate Licensee Training & Supervision
- Real Estate Sales Contracts for Buyers & Sellers
- Closing & Settlement Real Estate Transactions
- Overview of Real Estate Negotiation
- Fundamentals of Real Estate Financing
- Risk Management for Real Estate
- Advertising Laws in Real Estate
- Valuation of Real Property
- Overview of Property Management
- Commercial Real Estate
- New Construction Real Estate
- Alabama Real Estate Broker Pre-License Exam Flashcards