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
State Requirements For Michigan
Michigan State Requirement Details for Real Estate Continuing Education
Renewal Date: Every three years from date of issuance
Hours Required: 18 hours
- 6 hours – Legal Update
- 3 hours – Fair Housing
- 9 hours – Elective
Note: 2 hours of legal education courses involving statutes, rules, and court cases are required in each year of a license cycle.
*Effective 2/13/2024 all real estate professionals must complete one hour of Fair Housing in each year of the license cycle.
For those renewing within the first year of the effective date of the law, if selected for a Continuing Education Audit, the Department will take into consideration the shortened window for you to comply with the new law. For those renewing more than 1 year after the effective date of the law (after February 13, 2025), if selected for a Continuing Education Audit, the Department will use its discretion but would expect that at least one hour of this new training is completed for each license cycle year since the law went into effect.
Department of Licensing and Regulatory Affairs (LARA) - Board of Real Estate Brokers and Salespersons
Street Address: 611 W. Ottawa, Lansing MI 48933
Mailing Address: PO Box 30004, Lansing MI 48909
Telephone: 517.241.0199
Fax: 517.241.9416
Street Address: 720 N. Washington Ave., Lansing, MI 48906
Telephone: 844.642.6633