Lesson 1Agency relationships an duties: types a agency, disclosure obligations, fiduciary dutiesDis section explain agency relationships in real estate, including creation an termination a agency, types a representation, disclosure requirements, fiduciary duties owed to clients, an limited duties owed to customers.
Creation and termination of agencySeller, buyer, and dual agency modelsDesignated and transaction brokerageRequired agency and disclosure formsFiduciary duties and standard of careLesson 2Real estate finance: mortgages, lending instruments, amortization, an basic loan calculationsDis section introduce real estate finance concepts, including mortgage types, lending instruments, loan underwriting, amortization schedules, an basic loan calculations dat appear on licensing exams an in everyday brokerage practice.
Promissory notes and security instrumentsMortgage, deed of trust, and lien theoryFixed, adjustable, and balloon loansAmortization tables and loan balance mathLoan origination, points, and APR basicsLesson 3Valuation an appraisal fundamentals: market value, approaches to value, an comparable analysisDis section introduce valuation an appraisal principles, including market value, forces dat influence value, di sales comparison, cost, an income approaches, an how appraisers use comparables an adjustments in reports.
Market value versus price and costPrinciples and forces affecting valueSales comparison approach and adjustmentsCost approach and depreciation typesIncome approach and capitalization rateLesson 4Real estate math: prorations, commission calculations, area/volume, loan payment an qualifying ratiosDis section explain common real estate math tested on di exam, including prorations, commissions, area an volume, loan payment calculations, an qualifying ratios used by lenders fi evaluate borrower affordability.
Proration methods for taxes and rentsSales commissions and net-to-seller mathArea, perimeter, and volume calculationsLoan payment and interest computationsDebt-to-income and qualifying ratiosLesson 5Leases an property management basics: landlord/tenant rights, lease terms, security depositsDis section cover basic leasing an property management topics, including lease types, essential lease clauses, landlord an tenant rights an duties, security deposit handling, an fair housing issues in rental management.
Types of residential and commercial leasesEssential lease terms and clausesLandlord and tenant rights and dutiesSecurity deposits and trust accountsProperty manager duties and reportingLesson 6Property ownership an land descriptions: estates, forms a ownership, an legal descriptionsDis section review property ownership concepts, including freehold an leasehold estates, concurrent ownership forms, homestead an dower rights, an legal land descriptions used fi identify property in deeds an public records.
Freehold and leasehold estate typesSole, joint, and common ownership formsCommunity property and marital rightsMetes and bounds legal descriptionsLot and block and rectangular surveyLesson 7Closings an settlement processes: title transfer, escrow, closing statements, title insuranceDis section cover di closing process from contract to deed recording, including escrow procedures, title searches, closing disclosures, settlement statements, an di role a title insurance in managing risk fi buyers an lenders.
Steps from contract to closingEscrow accounts and escrow instructionsTitle search, examination, and defectsClosing disclosures and settlement formsTitle insurance coverage and claimsLesson 8Contracts an contract law: formation, enforceability, contingencies, breach, an remediesDis section explain contract law as applied to real estate, including contract formation, essential elements, enforceability, contingencies, performance, breach, an available legal an equitable remedies fi nonperforming parties.
Essential elements of valid contractsOffer, counteroffer, and acceptanceVoid, voidable, and unenforceable contractsCommon real estate contingenciesBreach, damages, and specific performanceLesson 9Ethics an professional conduct: confidentiality, conflicts a interest, unlicensed practice, advertising rulesDis section review ethical an professional conduct standards, including confidentiality, conflicts a interest, handling client funds, advertising rules, unlicensed practice, an disciplinary actions by real estate regulators.
Confidentiality and client loyaltyConflicts of interest and disclosuresHandling trust funds and escrowTruthful and compliant advertisingUnlicensed practice and penaltiesLesson 10Fair housing an anti-discrimination law: protected classes, prohibited practices, advertising rulesDis section explain federal an state fair housing an anti-discrimination laws, protected classes, prohibited practices, reasonable accommodations, steering an blockbusting, an advertising rules fi ensure equal housing opportunity.
Protected classes under federal lawProhibited discriminatory practicesReasonable accommodations and accessSteering, blockbusting, and redliningFair housing compliant advertisingLesson 11Public an private land use controls: zoning, easements, covenants, an eminent domainDis section cover public an private land use controls, including zoning, building codes, subdivision regulations, easements, deed restrictions, an governmental powers such as eminent domain an taxation affecting property.
Zoning classifications and variancesBuilding codes and occupancy permitsEasements creation and terminationDeed restrictions and covenantsEminent domain, taxation, and police power
