Studying for DC real estate law exam?

Question

Richard Mollel · Answer

Hi Account ClosedDid you ever get a response to your original question? None of the previous responses point to a book/material online.I am looking for the same information - lead to books/materials I can use to prepare for DC real estate law. I am licensed in MD.

Account Closed · Answer

Thanks Russell. That's wild about the mayor, though I'm not surprised.

Account Closed · Answer

@Jonny R. Know the following because I took it recently 1) commission is split between broker and salesperson 2) landlord must provide tenant with requested information in 7 days if they want to purchase the property 3) Brokers name must be included in advertising ad 4) Salesperson is suspended when brokers license is suspended and they are temporarily inoperable. 5) Purchase price under 399,900k seller pays 1.1% in transfer taxes.  Seller pays 1.45% in transfer taxes when purchase price ha over 400k.

Russell Brazil · Answer

Make sure you really know your TOPA stuff.  That is very specific to DC, and if I recall has a lot of questions on. Lots of questions to on the DC real estate commission, DC guaranty fund, DC grievance process.

Also be aware that the DC mayor is proposing raiding the DC guaranty fund.  If she does that, all DC licensees will be assessed a fee to bring the fund back up to where it is required to be by law.  Will likely be a couple grand fee we all get hit with.