Louisiana Continuing Education COURSE
LREC 2019 Mandatory Updates and Addenda
LREC 2019: Mandatory Updates and Addenda offers a thorough review of recent changes made to the Residential Agreement to Buy or Sell, as well as an in-depth look at updates to portions of the form concerning property inspections, financing, and curative work. The course also explores what is customary and what is required by the licensee, as well as what actions may incur liability on the part of the licensee. In addition, the course analyzes various addenda, both mandatory and suggested, that may be used when filling out a Residential Agreement to Buy or Sell. These include the LREC property disclosure form, buyer agency agreement, condominium addendum, contingency agreements, notice of ministerial acts, and others.
This four-hour course reduces risk to consumers by ensuring proper use of the LREC Residential Agreement to Buy or Sell and other related addenda.
Course highlights include:
- An overview of recent changes made to the Residential Agreement to Buy or Sell
- A discussion of the required deliverables from the buyer to the seller in conjunction with a loan application
- A look at changes related to the inspection period and the timeline inherent with the inspection and repair process
- A review of the obligations and ramifications of the seller’s curative work upon receipt of title objections
- An overview of recent changes made to the property disclosure form, as well as a discussion of Louisiana Supreme Court cases that have bearing on these changes
- A look at the rules and laws pertaining to the preparation of the right of first refusal addendum
- A discussion of how to access and forward e-mail via the MyLREC Portal
- Interactive activities and scenarios to seal in the new information and frame it in everyday context