Property Defect Disclosure COURSE DESCRIPTION Designed for real estate and appraisal professionals, this program provides guidelines for understanding material defects, procedures for fulfilling the agent’s duty of reasonable care and strategies for avoiding liability for failure to disclose or uncover defects that affect the value or desirability of the property. Program Objective:             To help real estate licensees achieve an understanding of what it means to say NYS is a “caveat emptor state” (buyer beware). an appreciation of the seller agent’s role in the disclosure of property defects. a comprehension of the terms “material defect”, “latent defect” and “active concealment.” an understanding of what constitutes misrepresentation and fraud and what the consequences are for licensees if they are involved. a realization of what defects, if any, the seller must disclose. an appreciation of what liabilities, if any, the licensee has for passing on a fraudulent property condition disclosure statement. a recognition of the buyer agent’s duty to advise and assist the buyer to perform due diligence before the property purchase. PREREQUISITES None