Virginia Post-Licensing: Financing
Success as a real estate professional is dependent on closings, and closings are dependent on finances—including cash deals. Understanding the A to (Regulation) Z of financing will help you and your clients get to the finish line more often.
Course highlights:
- How financing contingencies apply to the offer
- Comparing pre-qualification to pre-approval
- What the loan commitment means to the buyer’s financing contingency
- How to protect seller client interests when cash offers are received
- Loan programs, including the Virginia Housing Development Authority
- Alternatives to conventional financing
- Section 1031 tax-deferred exchanges
- SAFE Act, RESPA, TRID
- Finance advertising rules, including rules for mortgage providers in Virginia
- A review of key closing documents
State Requirements For Virginia
Virginia State Requirement Details for Real Estate Salesperson Post-Licensing Education
Hours Required by the State: 30 hours
- 2 hours in Fair Housing, ADA and Civil Rights
- 6 hours in Real Estate Law and Regulations
- 3 hours in Ethics and Standards of Conduct
- 2 hours in Current Industry Issues and Trends
- 3 hours in Agency Law
- 6 hours in Contract Writing
- 3 hours in Risk Management
- 3 hours in Escrow Requirements
- 2 hours in Real Estate-Related Finance
Note: The Code of Virginia requires all active new salesperson licensees to complete a Board-approved 30-hour post-license education (PLE) curriculum within one year from the last day of the month in which the license was issued in order to remain on active status. Failure to complete these 30 hours of PLE within the one year will result in automatic placement of your license on inactive status. New salespersons must complete the 30-hour Post-License Education requirement. They do not need to complete the 16-hour Continuing Education curriculum required of other salespersons.
Virginia Department of Professional and Occupational Regulation Real Estate Board
Street Address: 9960 Mayland Drive, Suite 400, Richmond, Virginia 23233-1485
Mailing Address: 9960 Mayland Drive, Suite 400, Richmond, Virginia 23233-1485
Telephone: (804) 367-8526
Email: reboard@dpor.virginia.gov