DRE Celebrates Financial Literacy Month
Published: April 3, 2024
Sacramento, Calif. – In celebration of National Financial Literacy Month, the California Department of Real Estate (DRE) reminds consumers of the many tools and resources available to help them make sound and informed decisions about real estate matters, particularly the homebuying or home/apartment-leasing process.
“With protecting the interests of the people of California as our driving mission, DRE is committed to providing consumers with resources and knowledge needed as they are going through what can be a major financial decision in their lives – their home,” said DRE Commissioner Chika Sunquist. “These tools help shed light on the homebuying process, detail proactive measures to educate and protect consumers, and provide insight around what can be complex transactions.”Below are a few resources and tips consumers can use to make well-informed decisions during real estate transactions.
Consumer Resources:-
Verify a License: Consumers can verify the license of a salesperson or broker by using DRE’s Verify a License tool online. Buyers and sellers should always verify the license of the salespersons and brokers involved in their transactional process. Only people licensed by DRE may represent others in buying, selling, or leasing property. Reviewing the status of a license will inform a person about any prior discipline against that licensee.
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Consumer Publications: DRE offers many publications on topics of current interest to consumers.
- Financial Sense to White Picket Fence
- Preventing Real Estate Fraud: How to Protect Yourself and Your Home
- A Consumer Guide to Mortgage-Related Complaints
- A Guide to Residential Tenants’ and Landlords’ Rights and Responsibilities
- Reverse Mortgages - Is One Right for You?
- A Homeowner’s Guide to Foreclosure
- Loan Modification Self-Help Guide
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Homebuyers / Borrowers: DRE provides in-depth resources specifically for those in the homebuying process, those borrowing for a home purchase, and mortgage loan professionals.
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First Home California Program: DRE provides several educational resources for first-time homebuyers, including step-by-step details around the homebuying process and DRE’s First Home California Podcast.
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DRE Consumer Recovery Account: DRE administers a victim’s fund that compensates persons who were defrauded by a real estate licensee in a transaction requiring a license for some or all of their financial loss.
Other helpful tips during the homebuying process:
- Ensure you’re dealing with a licensed salesperson or broker.
- Consumers should read all documents fully before signing them.
- Do not sign documents with blank spaces; request that documents be completed fully with no questions or sections left unaddressed.
- If you have any questions regarding the property or any disclosures and documents that you receive during the transaction, please make sure you ask clarifying questions, request additional inspections, and go to the city to review permits and documents.
- Once an offer has been accepted, you have the right to inspect the property.
Financial Literacy Events:
- 2024 Financial Literacy Resource Webinar Hosted by the Department of Financial Protection & Innovation, DRE is a guest presenter. Date and Time: April 24, 2024, at 2:00 p.m. - 3:00 p.m.
Visit DRE’s Consumers webpage for a full list of Consumer resources and information: https://dre.ca.gov/consumers/
Consumers with a concern or complaint about a real estate salesperson or broker can file a complaint with DRE at: https://dre.ca.gov/Consumers/FileComplaint.html
Contact:
DRE Communications and Publications Office
