Modern Real Estate Practice 21st Edition By Fillmore Galaty, Wellington Allaway, Robert Kyle, Martha Williams, Contributing
$20.00
Secure checkout
Instant digital download
PDF document
Document details
- Pages
- 596
- File size
- 753.72 KB
- Format
- Digital PDF
- Course
- Real Estate
- Category
- eBook[PDF]
Sign in or create a free account to continue. Your purchase will be saved in My Downloads.
About this ebook
The Modern Real Estate Practice, 21st Edition by Fillmore W. Galaty, Wellington J. Allaway, Robert C. Kyle, and Martha R. Williams (Contributing Editor) is a foundational pre-licensing textbook published by Dearborn Real Estate Education. It serves as a comprehensive guide covering essential principles, real estate law, math, and regulations. [1, 2]
The specific topics and units covered in this edition include:
Property Rights and Ownership
- Introduction to the Real Estate Business: Overview of the industry, types of real property, and real estate market dynamics. [1, 2]
- Real Property and the Law: Concepts of land, real estate, bundle of legal rights, and the distinction between real and personal property. [1, 2]
- Interests in Real Estate: Estates in land, encumbrances, water rights, and public versus private limitations on ownership. [1, 2]
- Forms of Real Estate Ownership: Sole ownership (severalty), co-ownership (tenancy in common, joint tenancy), trusts, partnerships, corporations, condominiums, and cooperatives. [1, 2]
- Land Description: Legal methods used to describe real estate, including metes-and-bounds, rectangular survey system, and lot-and-block systems. [1]
Transferring Property Rights and Titles
- Transfer of Title: Voluntary alienation (deeds, requirements for a valid deed) and involuntary alienation (adverse possession, eminent domain, foreclosure).
- Title Records: Public records, recording systems, chain of title, title evidence (abstracts, attorney opinions), and title insurance policies. [1, 2]
Agency and Client Representation
- Real Estate Brokerage: Business operations, anti-trust laws, independent contractor status, and technology in brokerage practices.
- Real Estate Agency: Law of agency, fiduciary duties (care, obedience, accounting, loyalty, disclosure), and agent-client relationships.
- Client Representation Agreements: Listing agreements, buyer representation agreements, and terms determining broker compensation. [1, 2]
Contracts and Finance
- Real Estate Contracts: Contract law, express and implied contracts, bilateral and unilateral agreements, validity, breach of contract, and standard sales contracts.
- Real Estate Financing: Core financing concepts, mortgage law, promissory notes, security instruments (mortgages, deeds of trust), and foreclosure procedures.
- Government Involvement in Real Estate Financing: The Federal Reserve, primary and secondary mortgage markets, conventional loans, FHA and VA loans, and lending legislation (such as TILA-RESPA). [1, 2]
Valuation, Closing, and Property Management
- Real Estate Appraisal: Concepts of value, the appraisal process, and the three approaches to estimating value (sales comparison, cost, and income capitalization approaches).
- Closing the Real Estate Transaction: Settlement procedures, closing statements, prorations, and compliance with federal disclosure guidelines.
- Leases: Leasehold estates, types of leases (gross, net, percentage), and the legal rights and obligations of landlords and tenants.
- Property Management: Functions of a property manager, management agreements, risk management, and property maintenance. [1, 2]
Land Use, Fair Housing, and Math
- Fair Housing: Federal Fair Housing Act, protected classes, prohibited practices (steering, blockbusting, redlining), and enforcement.
- Land-Use Controls and Property Development: Comprehensive planning, zoning ordinances, building codes, subdivision regulations, and private controls (deeds and restrictions).
- Environmental Issues and the Real Estate Transaction: Hazardous substances (lead-based paint, asbestos, radon, mold), liability under CERCLA, and environmental site assessments.
- Real Estate Taxes and Other Liens: General and special taxes, tax liens, mechanics' liens, and judgment liens.
- Real Estate Math: Practical application formulas for calculations involving commissions, areas, interest, taxes, loan adjustments, and prorations. [1, 2]
File included
tmpphpFbiiWw
753.72 KB
Related ebooks
