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Wisconsin Real Estate Listings

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Wisconsin Real Estate Listings Powered By Docstoc
					                                          Wisconsin State Real Estate
                                     Continuing Education Content Outline
                                             Effective July 1, 2007

I.        Issues Relating to New Listings, Agency Agreements, Legal Advice, Binding Contracts, and Defaults
               A. New Listings
                         1. Type of Conveyance
                         2. Additional Due Diligence -- seller questionnaires/lien search
               B. Agency Agreements
                         1. Short Sale Disclosure Requirements
                         2. Short Sale Broker Commission
                         3. Regulation Z -- Triggering Terms
                         4. Regulation Z -- Required Disclosure
                         5. Real Estate Signs
                         6. Multiple Representation
               C. Legal Advice
                         1. Boundary Disputes
               D. Binding Contracts
                         1. Commission Payment -- Terminated Listing
                         2. Signature Authority -- Listing Contract
                         3. Signature Entities -- Purchase Contract
               E. Defaults
                         1. Short Sale -- Inability to Close
                         2. Timing of Representations
     II.       Issues Relating to Offer to Purchase, Buyer Agency, Confidentiality of Offers, Inspection, 72 Hour
               Clause and Financing Issues
               A. Offer to Purchase
                         1. Included/Excluded Property
                         2. Acceptance
                         3. Document/Notice Delivery
                         4. Occupancy Agreement
                         5. Rental Weatherization
                         6. Condition of Premises at Closing
                         7. Enforceable Contingencies
               B. Buyer Agency
                         1. Buyer Notices
               C. Confidentiality of Offers
                         1. Other Offer Disclosures
                         2. Right of First Refusal Disclosure
               D. Inspection
                         1. Inspection vs. Testing
                         2. Lead Arsenate Issues [Lead and Arsenic (DATCP)]
               E. 72 Hour Clause
                         1. Bump Clause
               F. Financing Issues
                         1. Finanacing Commitment
                         2. Good Funds at Closing
     III.      New Developments in the Profession, Including New Agency Law, Condominium Law, and
               Vacant Land Use and Development
               A. New Agency Law
                         1. New Disclosures – Clients
                         2. New Disclosures – Customers
                         3. Pre-Agency Services
                         4. Defining Subagency Relationships
                         5. Designated Agency
                         6. Limited Service Brokers
                         7. Scope of Broker Liability for Employees
                         8. Choice of Form of Representation
                         9. Designated Agency -- Number of Agents Required
               B. Condominium Law
                         1. Executive Summary
                         2. Disclosure Materials/Rescission Rights


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                3. Statutory Reserve Accounts
      C.   Vacant Land Use and Development
                1. Zoning
                2. Conditional Uses
                3. Variances
IV.   Issues Relating to Real Estate Professional Ethics and Fair Housing
      A. Disclosures -- s. 452.133
                1. Material and Adverse Facts
                2. Confidentiality Obligations
                3. Trust Fund Obligations
                4. Fair Presentation of Offers
                5. Fiduciary Obligation/Client Interest
                6. Obligation to be Informed
      B. Fair Dealing and Best Practices
                1. Authorization Issues on Interpretation and Translation
                2. Accessibility Issues with Clients and Disabilities
      C. Fair Housing
                1. Renting to Persons with Disabilities
                2. Family Status
                3. Elderly Housing
                4. Citizenship Status
                5. Companion Animals
                6. Accessibility Issues
                7. Lawful Source of Income -- Voucher




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