Rhode Island Closings and Settlement Costs
Rhode Island Closings and Settlement Costs covers the buyer’s and seller’s concerns at closing, the required documents to close a transaction and the rules and regulations of the closing process. Some real estate licensees believe that their job ends when the purchase and sales contract is signed, and in fact, in many states, the licensee has no official duties throughout the closing process. However, transactions can and do fall apart during the closing stage. Licensees who are familiar with the closing procedures and settlement costs can stay involved and make sure that their transactions meet the desired end. In addition, the student will learn ways to help clients through this sometimes complicated process. Finally, the student will learn how to calculate closing expenses and fill out the settlement statement. As the student completes this module, he or she should attempt to fit this information in with the big picture of the real estate business. The conclusion of the module will assist with drawing the information together by presenting real world practice, comprehension questions and case studies for the student’s consideration. MM Update to match script correctly completed on
Requirements for Completing Rhode Island Closings and Settlement Costs
There are three important steps to completing a course:
- Complete ALL lessons in the course by answering each question correctly at least twice. Most questions are timed and need to be answered within the prescribed time for credit. A lesson is not complete until it is checked off on the main menu.
- Once you have completed the lessons on the computer, you must submit a signed “Student Affidavit” that you personally completed the entire course yourself. Under state law, this Affidavit must be received before a Course Completion Certificate can be issued or your course completion can be electronically reported to your state (if applicable).
- If a final exam is required, you must schedule a proctored exam (or take an online exam if available in your state) and pass the exam (please see “State Requirements” page for the specific passing score required in your state.) (The “Course Available” page will indicate which courses require a final exam, and whether they require a proctor or are available online.)
Once these three steps have been completed, we will issue a Course Completion Certificate or electronically report your course completion to your state (if applicable).
Getting Credit for Completion of Rhode Island Closings and Settlement Costs
You may have up to two opportunities to pass the exam (depending on your states guidelines). Once all course requirements are completed, you will be issued a Course Completion Certificate or your course completion will be electronically reported to your state (if applicable). It will be mailed to you via the U.S. Mail. The Certificate will be placed in the mail within 3-5 business days after you have satisfied all course requirements.