Florida Real Estate Principles, Practices & Law

by Crawford, Linda L.; Gaines, George, Jr.; Coleman, David S.

• ISBN13: 9780793148660
• ISBN10: 0793148669
• Edition: 25th
• Format: Paperback
• Copyright: 2001-12-01
• Publisher: Dearborn Trade Pub

Table of Contents

Preface	ix
The Real Estate Business	1	(12)
Overview	1	(1)
An Introduction to the Real Estate Business	1	(1)
Real Estate Brokerage	2	(5)
Development and Construction	7	(2)
The Role of Government	9	(1)
Professional Organizations	9	(1)
Summary	10	(1)
Review Questions	10	(3)
License Law and Qualifications for Licensure	13	(18)
Overview	13	(1)
Historical Perspective of Florida Real Estate License Law	13	(2)
General Licensing Provisions	15	(4)
Salesperson Qualifications for Licensure	19	(1)
Broker Requirements	20	(1)
Registration and Licensure	21	(1)
Post-Licensing Education	22	(1)
Continuing Education	22	(1)
Real Estate Services	23	(1)
Individuals Who Are Exempt From Licensure	23	(2)
Summary	25	(1)
Review Questions	25	(6)
License Law and Administration	31	(16)
Overview	31	(1)
Florida Real Estate Commission	31	(3)
Division of Real Estate	34	(8)
Real Estate Education and Research Foundation	42	(1)
Summary	42	(1)
Review Questions	42	(5)
Agency and Ethics	47	(24)
Overview	47	(1)
Law of Agency	47	(3)
Agency and Nonagency in Florida	50	(11)
Misrepresentation and Fraud	61	(1)
Professional Ethics	62	(1)
Summary	63	(2)
Review Questions	65	(6)
Real Estate Brokerage Operations	71	(26)
Overview	71	(1)
Brokerage Offices	72	(1)
Advertising	73	(2)
Escrow or Trust Accounts	75	(4)
Rental Lists and Rental Companies	79	(1)
Broker's Role as an Expert	80	(1)
Broker's Commission	81	(2)
Change of Employer	83	(1)
Membership in Organizations	83	(1)
Types of Business Entities That May Register	84	(3)
Trade Names	87	(1)
Business Arrangements and Entities That May Not Register as Brokers	87	(2)
Summary	89	(1)
Review Questions	90	(7)
Complaints, Violations, and Penalties	97	(26)
Overview	97	(1)
Procedures for Investigations and Hearings	97	(1)
Complaint Process--8 Steps	98	(7)
Violations and Penalties	105	(1)
Types of Penalties	106	(3)
FREC Disciplinary Guidelines	109	(1)
Denial and Recovery of Compensation	109	(4)
Real Estate Recovery Fund	113	(3)
Unfamiliar Legal Terms	116	(1)
Summary	117	(1)
Review Questions	118	(5)
Federal and State Housing Laws	123	(18)
Overview	123	(1)
Federal Fair Housing Laws	123	(2)
Federal Laws Regarding Land and the Environment	125	(2)
Federal Laws Regarding Mortgage Lending	127	(3)
State Housing and Land Sales Laws	130	(1)
State Laws Requiring Real Estate Disclosures	130	(6)
Summary	136	(1)
Review Questions	136	(5)
Property Rights: Estates, Tenancies, and Multiple Ownership interests	141	(20)
Overview	141	(1)
The Nature of Property	142	(4)
General Property Rights	146	(1)
Estates and Tenancies	146	(4)
Special Ownership Interests	150	(2)
Cooperatives, Condominiums, and Time-Sharing	152	(5)
Summary	157	(1)
Review Questions	157	(4)
Title, Deeds, and Ownership Restrictions	161	(22)
Overview	161	(1)
Title to Real Property	162	(1)
Acquiring Legal Title	162	(5)
Deeds	167	(5)
Ownership Limitations and Restrictions	172	(6)
Summary	178	(1)
Review Questions	178	(5)
Legal Descriptions	183	(16)
Overview	183	(1)
Purposes of Legal Descriptions	183	(1)
Types of Legal Descriptions	184	(11)
Summary	195	(1)
Review Questions	195	(4)
Real Estate Contracts	199	(36)
Overview	199	(1)
Preparation of Contracts	200	(1)
Essentials of a Contract	201	(2)
Contract Categories	203	(2)
Contract Negotiation	205	(1)
Termination of Contracts	206	(2)
Contracts Important to Real Estate	208	(8)
Summary	216	(1)
Practice in Preparing Contracts	216	(14)
Review Questions	230	(5)
Real Estate Finance	235	(30)
Overview	235	(1)
Legal Theories of Mortgages	236	(1)
Loan instruments	236	(3)
Mortgage Clauses	239	(2)
Types of Mortgages	241	(7)
Methods of Purchasing Mortgaged Property	248	(2)
Other Types of Financing	250	(2)
Qualifying the Buyer	252	(6)
Summary	258	(1)
Review Questions	259	(6)
The Mortgage Market	265	(16)
Overview	265	(1)
The Mortgage Market and Money Supply	265	(2)
Federal Regulatory Bodies	267	(2)
Primary Mortgage Market	269	(3)
Secondary Mortgage Market	272	(2)
Lender Charges	274	(2)
Summary	276	(1)
Review Questions	276	(5)
Computations and Title Closing	281	(26)
Overview	281	(1)
Computations	281	(6)
Closing Statements	287	(1)
Closing Statement Items	288	(7)
Summary	295	(1)
Sample Closing Statement Problem	295	(7)
Review Questions	302	(5)
Estimating Real Property Value	307	(28)
Overview	307	(1)
Market Value	308	(4)
Approaches to Estimating Real Property Value	312	(12)
Data Sources	324	(1)
Comparative Market Analysis	324	(1)
Comparative Market Analysis: Case Situation	325	(1)
Summary	326	(4)
Review Questions	330	(5)
Product Knowledge	335	(14)
Overview	335	(1)
Structural Elements	335	(11)
Summary	346	(1)
Review Questions	347	(2)
Real Estate Investment Analysis and Business Opportunity Brokerage	349	(18)
Overview	349	(1)
Need for Real Estate Investment Analysis	350	(1)
Real Estate as an Investment	350	(2)
Analyzing Investment Properties	352	(3)
Assessment of Risks	355	(2)
Leverage	357	(1)
Business Brokerage	358	(1)
Expertise Required in Business Brokerage	359	(2)
Valuation of Businesses	361	(1)
Steps in the Sale of a Business	362	(1)
Summary	363	(1)
Review Questions	363	(4)
Taxes Affecting Real Estate	367	(22)
Overview	367	(1)
City and County Property Taxes	367	(12)
Federal Income Taxes	379	(5)
Summary	384	(1)
Review Questions	385	(4)
The Real Estate Market	389	(12)
Overview	389	(1)
Three Key Questions	389	(1)
Characteristics of the Real Estate Market	390	(2)
Demand and Supply Factors	392	(5)
Summary	397	(1)
Review Questions	398	(3)
Planning and Zoning	401	(16)
Overview	401	(1)
History of Planning and Zoning	401	(2)
Local Planning Agency	403	(2)
The Planning Process	405	(3)
Zoning Laws and Building Codes	408	(2)
Appeals and Exceptions	410	(3)
Summary	413	(1)
Review Questions	414	(3)
Case Studies in Real Estate	417	(10)
Introduction	417	(1)
Cases in Law and Ethics	418	(9)
Practice End-of Course Exam	427	(18)
Acronym IRMA	445	(1)
Know Your Or's and Ee's	446	(1)
Glossary	447	(18)
Index	465	(10)
Feedback Sheet	475