CALIFORNIA REAL ESTATE PRINCIPLES

AGENT COLLEGE

45 hours

COURSE DESCRIPTION

The 11th edition of California Real Estate Principles is a much improved version of an already excellent beginning textbook, covering all matters related to the ownership and transfer of real property. This textbook is designed as a review and reference book for those students planning to take the California Real Estate License Examination.

To make passing the state exam even easier, we've redesigned this edition of the textbook to include outlines at the beginning of reach chapter and rewritten the quizzes found at the end of each chapter. Review is a breeze, with text highlighted in bold, italic green ink has been edited to better reflect the material and topics students will find on the state exam, as well as vocabulary tests at the end of each chapter to ensure students fully understand the material.

PREREQUISITES: None

TYPE OF COURSE:
The course is a home study course in book format taken at the student's convenience. Tests and quizzes are done online. The course is available 24 hours a day, seven days per week.

COURSE OUTLINE:

CALIFORNIA REAL ESTATE PRINCIPLES

Chapter 1: Introduction to Real Estate

• California Real Estate Market
• Historical Influence
• Real and Personal Property
• Methods of Land Description
• Chapter Summary
• Terminology

Chapter 2: Estates Transfers and Titles

• Estate Ownership
• Acquisitions and Transfers
• Title (Forms of Ownership)
• Recording and Acknowledgment
• Chapter Summary
• Terminology
  

Chapter 3: Encumbrances

• Encumbrances - An overview
• Liens (Money Owed)
• Items That Affect Physical Use (Non-Money Encumbrances)
• Homesteading Your Residence (Protects Against Judgment Liens)
• Chapter Summary
• Terminology
  

Chapter 4: Agency and Its Responsibilities

• Agency - An Overview
• Real Estate Agency Relationship Disclosure
• Listings and The Multiple Listing Service (MLS)
• Commissions (Negotiable)
• Transfer Disclosure Statement
• Broker's Responsibilities
• Required Agent Disclosures - Summary (Residential Sales)
• Terminating and Agency Relationship
• A Brokerage Must be Run Like a Business
• Chapter Summary
• Terminology

Chapter 5: Contracts

• Contracts in General
• Elements of a Contract
• Performance, Discharge, and Breach of Contract
• Remedies for Breach of Contract
• The Residential Purchase Agreement
• Seller/Agent Required Disclosures
• Purchase Options
• Chapter Summary
• Terminology

Chapter 6: Landlord and Tenant

• Landlord and Tenant - An Overview
• Leasehold Estates (Less-Than-Freehold
• Termination of a Lease (Or Rental Agreement)
• Special Purpose Leases
• Other Lease/Property Issues
• Property Management (Real Estate License Required)
• Professional Associations
• Chapter Summary
• Terminology

Chapter 7: Escrows and Title Insurance

• Escrows in General
• How Escrows Work
• Proration
• Termites and Other Problems
• Fire Insurance
• Title Insurance
• Types of title Insurance Policies
• Real Estate Settlement Procedures ACT (RESPA)
• California Escrow Association
• Chapter Summary
• Terminology

Chapter 8: Real Estate Finance

• Hypothecation (Property as Collateral)
• The Promissory Note
• Negotiable Instruments
• Important Clauses in Financial Instruments
• Interest and Types of Loans
• Points, Loan Fees, and Usury
• Security Devices
• Default and Foreclosure of a Trust Deed
• Second Trust Deeds (Junior TD's)
• Land Contract (Conditional Installment Sales Contract)
• Truth in Lending Act (Regulation Z) and Other Acts
• Chapter Summary
• Terminology

Chapter 9: Financial Institutions

• Our Ever Changing Economy (Economic Cycles)
• Shopping for a Loan
• Sources of Real Estate Funds
• Institutional Lenders
• Noninstitutional Lenders
• Government-Backed Loans
• Lending Corporations and the Secondary Mortgage Market
• Real Estate Broker Can Make Loans
• Chapter Summary
• Terminology

Chapter 10: Appraisal Basics

• What is an Appraisal?
• The Appraisal Process (Four Logical Steps)
• Improvements
• Basic Appraisal Principles
• Chapter Summary
• Terminology

Chapter 11: Appraisal Methods

• Comparative Approach (Market Data Method)
• Cost Approach (Replacement Cost Method)
• Capitalization Approach (Income Approach)
• Correlation of Value (Bracketing)
• Final Estimate of Value (Appraisal Report)
• Licensing, Fee Appraisers and Appraisal Organizations
• Chapter Summary
• Terminology

Chapter 12: Financial Institutions

• Doctrine of Police Power
• The Basic Subdivision Laws
• Public Report (Consumer Information)
• Subdivision Defined by Law
• Common Interest Development (CID)
• Subdivision Advertising
• Environmental Laws
• Planning Commission
• Zoning (Use)
• Housing, Building and Health Laws
• Eminent Domain
• Fair Housing Laws
• Chapter Summary
• Terminology

Chapter13: Taxation of Real Estate

• Real Property Taxes
• Special Assessment Tax
• Documentary Transfer
• Gift Estate Taxes
• Federal and State Income Taxes
• Taxes on Personal Residence
• Taxes for Income Producing Properties
• Sale of Real Property
• Installment Sales and Exchanges
• WE Are Now Tax Collectors
• Other Taxes Paid by Brokers
• Chapter Summary
• Terminology

Chapter 14: Licensing, Education, and Associations

• Department of Real Estate (DRE)
• Real Estate License Requirements
• Business Opportunity Brokerage
• Real Estate Law and Regulations
• Common Real Estate Law Violations
• Real Estate General Fund
• Trade and Professional associations
• Chapter Summary
• Terminology

Chapter 15: Real Estate Math

• Area Measurement
• Percentage Problems
• Determining Prorations
• Depreciation (For Tax Purposes)
• How to Find the Value of a Parcel
• Chapter Summary
• Terminology
  

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