Florida Real Estate Principles, Practices & Law

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

• ISBN13: 9780793160686
• ISBN10: 0793160685
• Edition: 26th
• Format: Paperback
• Copyright: 2003-01-01
• 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	23	(1)
Real Estate Services	23	(1)
Individuals Who Are Exempt From Licensure	23	(2)
Summary	25	(1)
Review Questions	26	(5)
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	43	(1)
Review Questions	43	(4)
Agency and Ethics	47	(24)
Overview	47	(1)
Law of Agency	48	(2)
Agency and Nonagency in Florida	50	(12)
Misrepresentation and Fraud	62	(1)
Professional Ethics	63	(2)
Summary	65	(1)
Review Questions	66	(5)
Real Estate Brokerage Operations	71	(26)
Overview	71	(1)
Brokerage Offices	72	(2)
Advertising	74	(1)
Escrow or Trust Accounts	75	(5)
Rental Lists and Rental Companies	80	(1)
Broker's Role as an Expert	81	(1)
Broker's Commission	82	(1)
Change of Employer	83	(1)
Membership in Organizations	84	(1)
Types of Business Entities That May Register	84	(4)
Trade Names	88	(1)
Business Arrangements and Entities That May Not Register as Brokers	89	(1)
Summary	90	(1)
Review Questions	90	(7)
Complaints, Violations, and Penalties	97	(24)
Overview	97	(1)
Procedures for Investigations and Hearings	98	(1)
Complaint Process---Eight Steps	98	(7)
Violations and Penalties	105	(2)
Types of Penalties	107	(2)
FREC Disciplinary Guidelines	109	(1)
Denial and Recovery of Compensation	109	(4)
Real Estate Recovery Fund	113	(2)
Unfamiliar Legal Terms	115	(1)
Summary	116	(1)
Review Questions	117	(4)
Federal and State Housing Laws	121	(20)
Overview	121	(1)
Federal Fair Housing Laws	121	(4)
Federal Laws Regarding Land and the Environment	125	(1)
Federal Laws Regarding Mortgage Lending	125	(4)
State Housing and Land Sales Laws	129	(1)
State Laws Requiring Real Estate Disclosures	129	(6)
Summary	135	(1)
Review Questions	136	(5)
Property Rights: Estates, Tenancies, and Multiple Ownership Interests	141	(22)
Overview	141	(1)
The Nature of Property	142	(4)
General Property Rights	146	(1)
Estates and Tenancies	147	(3)
Special Ownership Interests	150	(3)
Cooperatives, Condominiums, and Time-Sharing	153	(4)
Summary	157	(1)
Review Questions	158	(5)
Titles, Deeds, and Ownership Restrictions	163	(22)
Overview	163	(1)
Title to Real Property	164	(1)
Acquiring Legal Title	164	(5)
Deeds	169	(5)
Ownership Limitations and Restrictions	174	(6)
Summary	180	(1)
Review Questions	181	(4)
Legal Descriptions	185	(16)
Overview	185	(1)
Purposes of Legal Descriptions	186	(1)
Types of Legal Descriptions	186	(12)
Summary	198	(1)
Review Questions	198	(3)
Real Estate Contracts	201	(38)
Overview	201	(1)
Preparation of Contracts	202	(1)
Essentials of a Contract	203	(2)
Contract Categories	205	(2)
Contract Negotiation	207	(2)
Termination of Contracts	209	(1)
Contracts Important to Real Estate	210	(10)
Summary	220	(1)
Practice in Preparing Contracts	220	(13)
Review Questions	233	(6)
Real Estate Finance	239	(32)
Overview	239	(1)
Legal Theories of Mortgages	240	(1)
Loan Instruments	240	(3)
Mortgage Clauses	243	(2)
Types of Mortgages	245	(7)
Methods of Purchasing Mortgaged Property	252	(3)
Other Types of Financing	255	(2)
Qualifying the Buyer	257	(6)
Summary	263	(2)
Review Questions	265	(6)
The Mortgage Market	271	(16)
Overview	271	(1)
The Mortgage Market and Money Supply	272	(1)
Federal Regulatory Bodies	273	(2)
Primary Mortgage Market	275	(3)
Secondary Mortgage Market	278	(2)
Lender Charges	280	(2)
Summary	282	(1)
Review Questions	283	(4)
Computations and Title Closing	287	(26)
Overview	287	(1)
Computations	288	(6)
Closing Statements	294	(1)
Closing Statement Items	295	(6)
Summary	301	(1)
Sample Closing Statement Problem	302	(7)
Review Questions	309	(4)
Estimating Real Property Value	313	(30)
Overview	313	(1)
Appraisal Regulation	314	(1)
Market Value	314	(4)
Approaches to Estimating Real Property Value	318	(13)
Data Sources	331	(1)
Comparative Market Analysis	331	(2)
Comparative Market Analysis: Case Situation	333	(1)
Summary	334	(3)
Review Questions	337	(6)
Product Knowledge	343	(14)
Overview	343	(1)
Structural Elements	343	(11)
Summary	354	(1)
Review Questions	355	(2)
Real Estate Investment Analysis and Business Opportunity Brokerage	357	(20)
Overview	357	(1)
Need for Real Estate Investment Analysis	358	(1)
Real Estate as an Investment	358	(3)
Analyzing Investment Properties	361	(3)
Assessment of Risks	364	(2)
Leverage	366	(1)
Business Brokerage	366	(1)
Expertise Required in Business Brokerage	367	(3)
Valuation of Businesses	370	(1)
Steps in the Sale of a Business	371	(1)
Summary	372	(1)
Review Questions	373	(4)
Taxes Affecting Real Estate	377	(24)
Overview	377	(1)
City and County Property Taxes	378	(11)
Federal Income Taxes	389	(6)
Summary	395	(1)
Review Questions	395	(6)
The Real Estate Market	401	(12)
Overview	401	(1)
Three Key Questions	401	(2)
Characteristics of the Real Estate Market	403	(2)
Demand and Supply Factors	405	(5)
Summary	410	(1)
Review Questions	410	(3)
Planning and Zoning	413	(18)
Overview	413	(1)
History of Planning and Zoning	413	(2)
Local Planning Agency	415	(2)
The Planning Process	417	(3)
Zoning Laws and Building Codes	420	(3)
Appeals and Exceptions	423	(3)
Summary	426	(1)
Review Questions	426	(5)
Case Studies in Real Estate	431	(8)
Introduction	431	(8)
Practice End-of-Couse Exam	439	(18)
Acronym IRMA	457	(1)
Know Your Ors and Ees	458	(1)
Glossary	459	(20)
Index	479	(8)
Feedback Sheet	487