Virginia Post-Licensing: Escrow Requirements (3-Credit Hours)

Escrow responsibilities are changing…make sure you know the rules!

In this course, you will learn the legal responsibilities of those who create escrow accounts as part of a residential real estate transaction. This course details escrow responsibilities of real estate licensees, which are imposed by the Commonwealth of Virginia. you'll understand the possible outcomes of a random inspection that reveals a lapse in escrow practices. Finally, this course will help you remain compliant in real estate transactions. 

Key Benefits:

• This course fulfills your 3 hours of escrow requirements training as part of the mandatory 30 hours of Virginia post-licensing education
• Understand the random inspections that are now a part of the practice of real estate in Virginia, and the possible outcomes of an inspection that reveals a lapse in escrow practices
• Review the use of an escrow, or impound, account to accumulate funds used for payment of property taxes and homeowner's insurance
• Review the use of an escrow account by a real estate licensee acting on behalf of a property owner to collect rent payments from a tenant