Modern Real Estate Practice in North Carolina,9780793136346

Modern Real Estate Practice in North Carolina

by ; ; ;
Edition: 4th
ISBN13: 9780793136346
ISBN10: 0793136342
Format: Paperback
Pub. Date: 2000-10-01
Publisher(s): Dearborn Trade
Availability: This title is currently not available.
List Price: $41.95

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Summary

The leader in North Carolina real estate education, this fundamentals text helps students prepare for their licensing exams and for their careers as real estate professionals. Highlights include a new appendix including the North Carolina license law, commission rules, trust account guidelines, and the license law and rule comments, new math solutions added to the answer key for all math problems, and Instructor Resources, including a testbank with more than 500 questions and PowerPoint presentations.

Table of Contents

Preface vii
Acknowledgments ix
Basic Real Estate Concepts
1(16)
Learning Objectives
1(1)
Introduction
1(1)
General Characteristics of Real Estate
1(4)
General Concepts of Land Use and Investment
5(2)
The Scope of the Real Estate Business
7(3)
The Real Estate Market
10(3)
Summary
13(2)
Questions
15(2)
Property Ownership and Interests
17(35)
Learning Objectives
17(1)
The Concept of Property
18(6)
Estates in Real Property
24(5)
Ownership of Real Property
29(6)
Encumbrances on Real Property
35(7)
Property Taxation in North Carolina
42(3)
Summary
45(2)
Questions
47(5)
Property Description
52(9)
Learning Objectives
52(1)
Describing Land
52(1)
Methods of Describing Real Estate
53(4)
Summary
57(2)
Questions
59(2)
Transfer of Title to Real Property
61(22)
Learning Objectives
61(1)
Methods of Transferring Title
61(14)
Title Assurance
75(4)
Summary
79(2)
Questions
81(2)
Land-Use Controls
83(17)
Learning Objectives
83(1)
Public Land-Use Controls
84(10)
Privately Imposed Land-Use Controls
94(1)
Government Ownership
95(1)
Summary
95(2)
Questions
97(3)
Real Estate Brokerage and the Law of Agency
100(33)
Learning Objectives
100(1)
Introduction to Brokerage and Agency
101(1)
The Law of Agency
101(1)
General Agency Definitions
102(1)
Brokerage Defined
103(5)
Agency Relationships
108(6)
Agency Disclosure
114(1)
Duties and Liabilities of Agents
115(9)
Duties and Liabilities of Principals
124(1)
Nature of the Brokerage Business
125(3)
Summary
128(2)
Questions
130(3)
Fair Housing and Ethical Practices
133(20)
Learning Objectives
133(1)
Equal Opportunity in Housing
133(1)
Fair Housing Act
134(7)
Equal Credit Opportunity Act
141(1)
North Carolina Fair Housing Act of 1983
141(1)
Sexual Harassment
142(1)
Implications for Brokers and Selespeople
142(2)
Americans With Disabilities Act
144(1)
Fair Housing Practices
145(3)
Professional Ethics
148(1)
Summary
148(2)
Questions
150(3)
Basic Contract Law and Agency Contracts
153(37)
Learning Objectives
153(1)
Contracts
154(1)
Contract Definitions and Classifications
154(5)
Contract Law and Auction Sales
159(1)
Performance of Contract
159(3)
Broker's Authority to Prepare Contracts
162(1)
Listing Contracts and Practices
162(13)
The North Carolina Residential Property Disclosure Act
175(1)
Types of Agency Agreements
176(8)
Summary
184(3)
Questions
187(3)
Sales Contracts and Practices
190(20)
Learning Objectives
190(1)
The Sales Contract
190(12)
Installment Land Contract
202(1)
Option to Purchase Real Estate
203(3)
Summary
206(2)
Questions
208(2)
Landlord and Tenant
210(20)
Learning Objectives
210(1)
Leasing Real Estate
210(1)
Residential Rental Agreements Act
211(2)
Act Prohibiting Retaliatory Eviction
213(1)
Tenant Security Deposit Act
213(1)
Constitutional Rights of Tenants in Public Housing
214(1)
North Carolina Vacation Rental Act
214(1)
Other Landlord/Tenant Rules
215(1)
Leasehold (Nonfreehold) Estates
215(2)
Types of Leases
217(2)
Lease Provisions
219(7)
Summary
226(1)
Questions
227(3)
Property Management
230(14)
Learning Objectives
230(1)
Property Management
230(1)
Functions of the Property Manager
231(4)
Property Management Fee
235(1)
Managment Considerations
235(5)
Summary
240(2)
Questions
242(2)
Real Estate Financing: Principles
244(23)
Learning Objectives
244(1)
Basic Mortgage Terms and Concepts
244(1)
Security and Debt
245(1)
The Promissory Note
246(11)
The Mortgage (or Deed of Trust) Instrument
257(6)
Summary
263(1)
Questions
264(3)
Real Estate Financing: Practices
267(28)
Learning Objectives
267(1)
Types of Mortgages (Mortgage Loans)
267(12)
Sources of Real Estate Financing-The Primary Mortgage Market
279(3)
Government Influence in Mortgage Lending
282(2)
Residential Lending Practices and Procedures
284(4)
Financing Legislation
288(1)
Summary
289(2)
Questions
291(4)
Closing the Real Estate Transaction
295(28)
Learning Objectives
295(1)
Preclosing Procedures
295(3)
Conducting the Closing
298(2)
RESPA Requirements
300(2)
Preparation of Closing Statement
302(4)
Prorations
306(5)
Sample Closing Statement
311(4)
Summary
315(2)
Questions
317(6)
Basic Residential Construction
323(12)
Learning Objectives
323(1)
Architectural Types and Styles
324(1)
Foundations
324(3)
Framing
327(1)
Elements of Construction
327(5)
HVAC
332(1)
BTU
333(1)
Government Regulation
333(1)
Questions
334(1)
Real Property Valuation
335(25)
Learning Objectives
335(1)
Appraising
335(1)
Value
336(3)
The Appraisal Process
339(6)
Approaches to Value (Appraisal Methods)
345(9)
The Profession of Appraising
354(1)
Summary
355(1)
Questions
356(4)
Property Insurance
360(9)
Learning Objectives
360(1)
Basic Insurance Concepts
360(1)
Homeowner's Insurance
361(3)
Risk Management for Property Managers
364(2)
Summary
366(1)
Questions
367(2)
Federal Income Taxation of Real Property Ownership
369(9)
Learning Objectives
369(1)
Introduction
369(1)
Tax Benefits for Homeowners
370(1)
Tax Benefits of Selling a Principal Residence
370(3)
Tax Benefits of Real Estate Investment
373(2)
Summary
375(1)
Questions
376(2)
Environmental Issues and the Real Estate Transaction
378(16)
Learning Objectives
378(1)
Environmental Issues
378(1)
Hazardous Substances
379(8)
CERCLA and Environmental Protection
387(2)
North Carolina Environmental Issues
389(1)
Liability of Real Estate Professionals
390(1)
Summary
391(1)
Questions
392(2)
Real Estate Mathematics
394(21)
Learning Objectives
394(1)
Introduction
394(1)
Basics
395(1)
Percentages
395(3)
Using Percents
398(1)
Measurements
399(3)
Specific Math Applications
402(8)
Summary
410(1)
Questions
411(4)
Appendix A: North Carolina License Law 415(6)
Real Estate License Law, Commission Rules and Trust Account Guidlines
415(2)
Questions
417(4)
Appendix B: Residential Square Footage Guidelines 421(25)
Sample North Carolina Real Estate Licensing Examination 446(12)
Answer Key 458(10)
Glossary 468

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