PLE- Real Estate Escrow Management

09 Jul

PLE- Escrow Management - 07/09/2020

PLE- Escrow Management - 07/09/2020

Thursday, July 9, 2020 (1:00 PM to 4:00 PM)
3 Hours Escrow Management CE Hours
Virtual

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This course focuses on the responsibility that a licensee has for caring for other people’s money when assisting them in real estate matters. Consumers must have absolute trust and confidence in their agent knowing that their funds are safe when tendering over thousands of dollars in the course of a real estate transaction. Laws and regulations are in place to ensure that a consumer’s money is properly handled and if not, the penalties facing a licensee for mismanagement of those funds.

The course will cover the Virginia Real Estate Board Rules and Regulations and the Code of Virginia that addresses Escrow and Trust funds and review some of the
disciplinary actions taken against a licensee for mismanagement of those funds.

Licensees will learn how to properly handle funds coming into their possession, where those funds must be placed, when, how, and under what circumstances those funds may ultimately be disbursed. Covered will be who has the authority and the responsibility for those escrow/trust funds and the penalties for mismanagement of those funds. Licensees will also learn what actions constitute commingling and conversion. The course will cover how to handle monies coming into a licensee’s possession for sales, rentals and property management transactions.

**Please come prepared with a laptop/iPad/Smartphone to view materials from the link that is sent out on reminders.

Virtual
Virtual

DAAR members receive FREE CE, any registered member that does not attend and does not notify DAAR within 48 hours of the class, will receive a no-show fee of $20 to their account. Walk ins will be charged a $5 fee. Full DAAR School Policies