In many states, a licensee has no official duties throughout the closing process. This leads some real estate licensees to believe that their job ends when the purchase and sales contract is signed, but this is not a prudent stance. Transactions can and do fall apart during the closing stage. Licensees who are familiar with closing procedures and settlement costs can stay involved and use their skills to help ensure that their transactions end well.
This course covers a broad range of issues related to closing and settlement to help the student learn ways to help clients through this sometimes, complicated process. It includes the following lessons:
- The Loan Estimate
- Real Estate Closings
- The Loan Estimate and The Closing Disclosure
In addition, this course includes a final practice session. This concluding lesson presents real-world dilemmas and concrete applications of the information presented in the rest of the course. As the student completes this course, he or she should try to develop a broad picture of closing and settlement and how they fit into the larger practice of real estate. The last lesson will help with this project by presenting comprehensive content questions, practice problems and case studies.
Closings and Settlement Costs - NYS Department of State Division of Licensing Services Bureau of Educational Standards
- NYS Department of State Division of Licensing Services Bureau of Educational Standards
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