Florida Real Estate Broker's Guide / Edition 1

Florida Real Estate Broker's Guide / Edition 1

by Linda Crawford, Edward J. O'Donnell, O'Donnell
     
 

ISBN-10: 0793160618

ISBN-13: 9780793160617

Pub. Date: 04/15/2003

Publisher: Kaplan Publishing

Florida Real Estate Broker's Guide is your complete source for broker prelicense education. You'll find all the information you need, with topics that build on the knowledge you've gained during your career.  See more details below

Overview

Florida Real Estate Broker's Guide is your complete source for broker prelicense education. You'll find all the information you need, with topics that build on the knowledge you've gained during your career.

Product Details

ISBN-13:
9780793160617
Publisher:
Kaplan Publishing
Publication date:
04/15/2003
Edition description:
Revised
Pages:
600
Product dimensions:
8.88(w) x 10.60(h) x 1.10(d)

Related Subjects

Table of Contents

Introductionviii
Part IGetting Started in the Real Estate Brokerage Business1
Chapter 1Becoming a Licensed Real Estate Broker3
Key Terms3
Overview3
Introduction4
Requirements for Licensure4
Postlicensing Education11
Continuing Education11
License Renewal12
Individuals Who Are Exempt From Licensure16
Summary18
Review Questions20
Chapter 2Opening a Real Estate Office25
Key Terms25
Overview25
Business Structures That May Be Registered as Brokerage Entities26
Other Business Forms That May Not Register34
Fictitious Name Act35
The Real Estate Office36
Advertising and Self-Promotion40
Summary46
Review Questions47
Chapter 3Owning, Managing, and Supervising a Real Estate Office51
Key Terms51
Overview51
Developing a Realistic Business Plan52
Capital and Start-Up Costs54
Estimating Income and Expenses--Factors to Consider56
Franchise vs. Independent Firm62
Tax Considerations64
Staff and Sales Personnel66
Summary79
Review Questions80
Chapter 4Escrow Management85
Key Terms85
Overview85
Establishing Escrow Accounts86
Broker's Records90
Escrow Disbursement Dispute Process94
Notification and Settlement Procedure Requirements for Special Types of Properties99
Summary100
Review Questions104
Chapter 5Office Inspections and the Disciplinary Process109
Key Terms109
Overview109
Division of Real Estate Authority and Responsibility110
Disciplinary Procedures111
Summary123
Review Questions124
Case Study127
Part IIValuing Real Property129
Chapter 6Overview of Real Estate Valuation131
Key Terms131
Overview131
Introduction to Appraisal132
Value Definitions For Real Property Appraisal135
Principles of Value137
The Appraisal Process143
Types of Appraisal Reports and Reporting Formats147
Summary148
Review Questions149
Chapter 7Sales Comparison, Cost Depreciation, and Income Approaches153
Key Terms153
Overview153
Sales Comparison Approach154
Cost-Depreciation Approach165
Income-Capitalization Approach171
Summary177
Review Questions178
Chapter 8Comparative Market Analysis183
Key Terms183
Overview183
Introduction184
Preparation of a Comparative Market Analysis184
Case Study--Comparative Market Analysis189
Summary192
Review Questions193
Chapter 9Basic Business Appraisal197
Key Terms197
Overview197
Fundamentals of Business Appraisal198
Understanding and Using Financial Statements200
Valuation Methods208
Summary210
Review Questions211
Case Study215
Part IIIListing and Selling Real Property217
Chapter 10Brokerage Relationships219
Key Terms219
Overview219
Law of Agency220
Agency Relationships in General Business Dealings220
Brokerage Relationships in Florida221
Summary232
Review Questions238
Chapter 11Contracts241
Key Terms241
Overview241
Entitlement to Commissions242
Purchase and Sale Contracts246
Electronic Signatures in the Global and National Commerce Act247
Documents Necessary to Prepare the Contract Seller Documents247
Provisions of Real Estate Contracts248
Disclosure261
Other Contracts265
Summary267
Review Questions269
Chapter 12Financing Real Estate275
Key Terms275
Overview275
Mortgages, Notes, and the Rights and Obligations of the Parties277
Conventional, FHA, and VA Mortgage Loans280
Mortgages by Method of Payment288
Mortgages by Payment or Yield Variability288
Mortgages by Purpose291
Other Techniques Used in Financing Real Estate294
Federal Consumer Protection Legislation296
Residential Loan Underwriting300
Summary307
Review Questions308
Chapter 13Closing Real Estate Transactions313
Key Terms313
Overview313
The Broker's Role in Closing314
Preliminary Steps to a Closing314
Prorating Procedures319
Preparation of the Closing Statement323
Summary336
Review Questions337
Chapter 14Federal Income Tax Laws Affecting Real Estate341
Key Terms341
Overview341
Income Tax Treatment--Principal and Second Homes342
Special Rules346
Sale of Principal Residence347
Income Tax Treatment--Real Estate Investment Operations349
Tax Incentives For Low-Income Housing354
Sale of Investment Real Estate355
Methods of Deferring Taxes Upon Disposition (Special Rules)356
Summary361
Review Questions362
Case Study366
Part IVSpecialties369
Chapter 15Investment Real Estate371
Key Terms371
Overview371
Matching Investment Properties with Investor Needs372
Site Description374
Structural Characteristics of Income Property Buildings375
Leases and Lease Terminology376
Mortgages380
Investment Analysis383
Case Study--Timberlane Office Suites386
Summary399
Review Questions400
Chapter 16Zoning and Planning, Subdividing of Land, and Special Issues405
Key Terms405
Overview405
The Evolution of Land Use Planning in Florida406
Zoning Regulations407
Florida Uniform Land Sales Practices Law410
Federal Laws Regarding Land Use413
Summary413
Review Questions414
Chapter 17Environmental Concerns Affecting Real Estate Transactions417
Key Terms417
Overview417
Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)418
Asbestos422
Radon423
Lead-Based Paint425
Summary430
Review Questions431
Chapter 18Property Management435
Key Terms435
Overview435
Introduction436
Property Management Markets438
Skills Required of a Property Manager440
The Rental Process440
The Lease Agreement446
The Owner-Manager Relationship452
Staffing and Employee Relations453
Applicable Federal and State Laws454
Summary457
Review Questions459
Practice Final Exam467
Appendix489
Glossary502
Index513

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