This course is be tailored towards intermediate title professionals who close residential purchase/sale transactions. The presentation will cover all of the substantive changes to the TREC promulgated contracts, focusing on the TREC One to Four Family Contract and related Addendum, which were mandatory for use April 1, 2021. Attendees will learn how to handle receipt of option fee when delivered with earnest money, get information as to what to look for in two new addenda for preparation of the closing disclosure and be made aware of the change as to allocation of cost for deposits for reserves charged by a Property Owners Association or Condominium Association.
This course will provide valuable information on the duties and responsibilities of the title insurance agent or escrow officer when handling the settlement of the transaction. Upon completion of this course, attendees will:
- Understand their duty to receipt option and earnest money, and in proper order.
- Learn when option fee is to be disbursed and/or credited at closing.
- Learn about new related forms and what to look for in preparation of the Closing Disclosure.
- Learn of changes made to how fees under an HOA are allocated.
Dawn Enoch Moore, Allegiance Title Company
1.0 Escrow Credit
1.0 MCLE Credit
For those with some experience on the topic and/or the title industry. May include real-world application and/or specific and detailed information.
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