understanding the various disclosures required in real estate transactions, including material facts, the Transfer Disclosure Statement, the Natural Hazard Disclosure Statement, Megan’s Law, and the Agent’s Visual Inspection Disclosure form.

Questions:
CHAPTER 4 – Real Estate Disclosures: 1. Regarding disclosures in real estate, please define what a material fact is, give examples.
2. Name and describe the 5 different sections to the Transfer Disclosure Statement (see pages 73 – 75).
3. Name and describe the 6 areas addressed in the Natural Hazard Disclosure Statement (see pages 62 – 63).
4. Explain what exactly is Megan’s Law, does a real estate agent need to do any research for or with the buyer? What is the website to conduct this research?
5. Describe the purpose of the Agent’s Visual Inspection Disclosure form, how is it different from the Transfer Disclosure Form ? (see pages 76 – 78).
Hint: If you have not obtained the required textbook as yet, I have posted the chapter reading under “Read Chapter 4” in the Module and make sure to review the PowerPoint.