Lesson 1Leasing and property management fundamentals: leases, landlord/tenant obligations, security deposit rulesProvides fundamentals of leasing an property management. Explains lease types, landlord an tenant duties, security deposit handling, an basic risk management fi managers an licensees.
Lease types and key lease provisionsLandlord obligations and habitabilityTenant rights, defaults and evictionsSecurity deposit limits and accountingManagement agreements and fiduciary dutiesLesson 2Contracts and contract law: offer, acceptance, consideration, capacity, contingency, breaches and remediesIntroduces contract formation an enforceability in real estate. Reviews offers, counteroffers, contingencies, an common breaches, along wid available remedies an exam-tested contract clauses.
Elements of a valid and enforceable contractOffer, counteroffer and acceptance rulesConsideration, capacity and legalityContingencies, addenda and time limitsBreach, damages, rescission and specific performanceLesson 3Disclosures and property condition: material facts, latent defects, seller disclosure statutesExplores required property condition disclosures an what count as a material fact or latent defect. Clarifies seller an licensee duties, inspection issues, an how fi document disclosure compliance.
Material facts versus opinions and puffingLatent defects and duty to investigateSeller disclosure forms and exemptionsLicensee disclosure obligations to buyersInspections, repairs and disclosure updatesLesson 4State-specific statutory variations and common addenda/forms to learnFocuses pon how state statutes modify general real estate rules an contracts. Reviews common mandatory forms an addenda, dem purposes, an how fi complete dem accurately fi compliant transactions.
Key state-specific licensing requirementsMandatory consumer disclosure formsCommon purchase contract addendaLead-based paint and property condition formsLocal custom clauses and practice variationsLesson 5Ethics, agency disclosure, dual agency and conflicts of interestCovers ethical standards, required agency disclosures, an how fi manage dual agency or limited representation. Emphasizes identifying conflicts of interest, informed consent, an avoiding conduct dat could lead to discipline.
Code of ethics and professional conductRequired timing and content of disclosuresDual agency, designated agency and consentConflicts of interest and disclosure dutiesDisciplinary actions and risk avoidanceLesson 6Agency law and fiduciary duties: duties, types of agency relationships, terminationExplains how agency is created, di fiduciary duties owed to clients, an how different agency relationships operate. Covers proper disclosure, ways agency can terminate, an exam scenarios involving breaches of duty.
Creation of agency and required agreementsFiduciary duties owed to seller and buyer clientsTypes of agency: single, subagency, designatedBuyer brokerage and tenant representationTermination of agency and consequencesLesson 7Real estate finance basics: mortgage types, loan qualification metrics, closing costs, RESPA and TILA basicsIntroduces core real estate finance concepts tested pon di exam. Reviews loan types, qualification metrics, closing costs, an consumer protection rules under RESPA an TILA fi residential transactions.
Mortgage types and loan program featuresInterest rates, points and loan pricingDebt-to-income and credit qualificationClosing costs, prepaid items and escrowsRESPA, TILA and Loan Estimate basicsLesson 8Fair housing, discrimination law, and HUD rules: protected classes, prohibited practices, advertising rulesReviews federal an state fair housing laws, protected classes, an prohibited practices. Explains HUD enforcement, advertising rules, an how fi structure policies an scripts dat avoid discriminatory impact.
Protected classes under federal and state lawProhibited conduct and disparate impactSteering, blockbusting and redliningHUD complaint process and enforcementFair housing compliant advertising rulesLesson 9Property ownership and land descriptions: estates, concurrent ownership, legal descriptionsExplains forms of property ownership an how land is legally described. Covers freehold an leasehold estates, concurrent ownership forms, an metes an bounds, lot an block, an government survey.
Freehold and leasehold estate categoriesJoint tenancy, tenancy in common and entiretyCommunity property and marital interestsLegal description methods and accuracyEasements, encroachments and restrictionsLesson 10Closing procedures, title and deeds: chain of title, title insurance, deed types, recordingCovers di steps from contract to closing, including title examination, curing defects, an recording. Reviews deed types, required elements, an how title insurance protects parties in di transaction.
Pre-closing timeline and coordination tasksChain of title and title search reportsTitle defects, clouds and curative actionsDeed types and essential deed elementsRecording, priority and constructive noticeLesson 11Handling client funds and escrow: earnest money procedures, trust account rules, recordkeeping and commingling prohibitionsExplains proper handling of earnest money an other client funds. Covers trust account setup, deposit timing, recordkeeping, reconciliation, an strict prohibitions pon commingling or conversion of funds.
Earnest money receipt and deposit deadlinesEscrow instructions and release proceduresTrust account setup and signatory controlRequired records and reconciliationsCommingling, conversion and penalties
