Sample Course Index

  Test Drive/Lesson One

•  Forms of Listing Agreements
•  Specific Application of the Law of Agency to the Exclusive Authorization and Right to Sell
•  Anatomy of a Standard Form I
•  Financing the Sale
•  Payments, Penalties and Charges

Important Terms

•  alienation
•  amortization
•  arranger of credit
•  consideration
•  debtor
•  due-on-sale
•  exchange
•  fee title
•  fiduciary
•  grant deed
•  installment sale
•  lien
•  liquidated damages
•  lock-in clauses
•  material facts
•  notice of default
•  owner-occupied
•  prepayment penalty
•  probate
•  secondary mortgage market
•  statute of limitations
•  successor
•  trading on equity
•  vendor
•  wraparound
•  yields

  Lesson Two

•  How To Include Personal Property In The Agreement
•  Anatomy of a Standard Form II

Important Terms

•  as-is
•  associate
•  bilateral contract
•  business opportunity
•  close of escrow
•  commingling
•  community property
•  earnest money
•  fraud
•  joint tenants
•  procuring cause
•  promissory note
•  recording
•  tenants-in-common
•  title insurance

  Lesson Three

•  The Valuation Process
•  History - Information File
•  The Money Crunch - Traditional Financing vs. Creative Financing
•  The Wraparound - The Wraparound or All-Inclusive Deed of Trust
•  Related Subjects

Important Terms

•  attachments
•  counter offer
•  competitive market analysis
•  discount points
•  encumbrances
•  escrow instructions
•  market value
•  mortgage bankers
•  purchase money mortgage
•  refinanced
•  restrictions
•  second mortgage
•  statute of frauds
•  trust deed
•  trustor
•  unenforceable
•  utility
•  value
•  void
•  zoning ordinances

  Lesson Four

•  Price-Fixing: A Crime For Which There Is No Excuse
•  Referrals, Rebates and Related Arrangements Under State & Federal Laws
•  Probate Sales of Real Property

Important Terms

•  Department of Housing and Urban Development
•  Fannie Mae
•  Federal Deposit Insurance Coproration
•  Federal Home Loan Mortgage Corporation
•  Federal Housing Administration
•  finder's fee
•  Ginnie Mae
•  kickback
•  Office of Thrift Supervision
•  price fixing
•  real estate investment trusts
•  REALTOR®
•  REALTOR®-Associate
•  VA Loans

  Lesson Five

•  Introduction
•  Appraisal vs. Competitive Market Analysis (CMA)
•  Purposes and Uses of Appraisals
•  The Appraisal Report
•  Principles of Valuation
•  Basic Value Definitions
•  The Characteristics of Market Value
•  Special Forces Influencing Value

Important Terms

•  appraisal
•  appreciation
•  competitive market analysis
•  demand
•  highest & best use
•  market value
•  plottage
•  price fixing
•  supply
•  utility value

  Lesson Six

•  Kinds of Real Estate Markets
•  Methods of Appraising Property
•  Market Data Approach
•  Gross Rent Multiplier Approach
•  Cost Approach

Important Terms

•  capitalization

  Lesson Seven

•  Accrued Depreciation
•  Methods of Estimating Depreciation
•  Site Analysis
•  Capitalization
•  Analysis of Expenses

Important Terms

•  accrued depreciation
•  contract rent
•  economic rent
•  fixed expenses
•  functional obsolescence
•  operating expenses
•  physical deterioration

  Lesson Eight

•  Direct and Straight Capitalization
•  Three Basic Techniques of Capitalization
•  Appraisal Statistical Concepts

Important Terms

•  capitalization
•  cap rate
•  mean
•  median
•  mode
•  variate