Cover image for Real estate fundamentals
Title:
Real estate fundamentals
Author:
Gaddy, Wade E.
Personal Author:
Edition:
Sixth edition.
Publication Information:
Chicago, Ill. : Dearborn Real Estate Education, [2003]

©2003
Physical Description:
xi, 379 pages : illustrations ; 28 cm
General Note:
Includes index.
Language:
English
Added Author:
ISBN:
9780793164714
Format :
Book

Available:*

Library
Call Number
Material Type
Home Location
Status
Central Library HD1375 .G335 2003 Adult Non-Fiction Non-Fiction Area-Oversize
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Summary

Summary

Clear organization, easy to grasp language, and comprehensive coverage of real estate principles have earned this text a significant following. Real Estate Fundamentals has trained more than 70,000 real estate professionals. Instructor Resources include lecture outlines, suggested items to bring to class and a 100 question sample exam. This text can be used in conjunction with the Real Estate Study Guide CD-ROM.


Table of Contents

Prefacep. viii
Acknowledgmentsp. x
1 An Introduction to the Real Estate Businessp. 1
Real Estate Specialtiesp. 2
Professional Organizationsp. 4
Types of Real Estatep. 5
Real Estate Marketsp. 5
Summaryp. 7
Review Questionsp. 8
2 Nature and Description of Real Estatep. 10
Property Rightsp. 11
Real Propertyp. 12
Personal Propertyp. 16
Characteristics of Real Estatep. 17
Land Unit Measurementsp. 19
Legal Descriptionsp. 20
Summaryp. 25
Review Questionsp. 26
3 Rights and Interests in Real Estatep. 29
Historical Background of Real Estate Ownershipp. 30
Government Powersp. 30
Estates in Landp. 31
Encumbrancesp. 35
Summaryp. 43
Review Questionsp. 44
4 Acquisition and Transfer of Titlep. 47
Voluntary Alienationp. 48
Involuntary Alienationp. 56
Transfer of a Deceased Person's Propertyp. 58
Summaryp. 60
Review Questionsp. 62
5 How Ownership Is Heldp. 64
Ownership in Severaltyp. 65
Co-Ownershipp. 65
Trustsp. 71
Business Entity Ownership of Real Estatep. 72
Cooperative/Condominium Ownershipp. 74
Summaryp. 77
Review Questionsp. 79
6 Title Recordsp. 82
Public Records and Recordingp. 83
Evidence of Titlep. 85
Uniform Commercial Codep. 90
Summaryp. 91
Review Questionsp. 92
7 Contractsp. 94
Contract Lawp. 95
Essential Elements of a Valid Contractp. 97
Performance of Contractsp. 100
Agency Contractsp. 102
Sales Contractsp. 112
Optionsp. 120
Summaryp. 121
Review Questionsp. 123
8 Landlord and Tenantp. 127
Leasehold Estatesp. 128
Standard Lease Provisionsp. 129
Legal Principles of Leasesp. 138
Types of Leasesp. 143
Summaryp. 145
Review Questionsp. 147
9 Real Estate Agency and Brokeragep. 149
Real Estate Brokerage Definedp. 150
Real Estate License Lawp. 150
Agency Relationshipsp. 152
Nature of the Real Estate Businessp. 161
Summaryp. 166
Review Questionsp. 167
10 Real Estate Taxationp. 171
State and Local Property Taxationp. 172
Federal Income Tax on Real Estatep. 177
Summaryp. 179
Review Questionsp. 181
11 Appraisalp. 183
Valuep. 184
Valuation Methodsp. 188
The Appraisal Processp. 196
Summaryp. 201
Review Questionsp. 202
12 Real Estate Financing Instrumentsp. 205
Mortgage Theoryp. 207
Security and Debtp. 206
Provisions of the Notep. 208
Provisions of the Mortgage Document or Deed of Trustp. 212
Foreclosurep. 215
Conventional, Insured, and Guaranteed Loansp. 218
Specialized Financing Techniquesp. 221
Summaryp. 228
Review Questionsp. 230
13 Real Estate Financing Marketp. 234
Sources of Real Estate Financingp. 235
Government Participation in the Finance Marketp. 238
Financing Legislationp. 241
Summaryp. 244
Review Questionsp. 246
14 Control and Land Developmentp. 248
Public Land the Controlp. 249
Private Ownership and Developmentp. 252
Direct Public Ownershipp. 257
Summaryp. 258
Review Questionsp. 259
15 Fair Housing Laws and Ethical Practicesp. 261
Fair Housing Lawsp. 262
Discriminatory Housing Practicesp. 264
Adaptable and Accessible Housing Requirementsp. 269
Implications for Brokers and Salespeoplep. 270
Summaryp. 271
Review Questionsp. 272
16 Environmental Issues and the Real Estate Transactionp. 276
Environmental Hazardsp. 277
CERCLA and Environmental Protectionp. 283
Liability of Real Estate Professionalsp. 285
Summaryp. 286
Review Questionsp. 287
17 Closing the Real Estate Transactionp. 289
Preclosing Proceduresp. 290
Conducting the Closingp. 292
RESPA Requirementsp. 295
Preparation of Closing Statementsp. 297
The Arithmetic of Proratingp. 302
Sample Closing Statementp. 304
Summaryp. 309
Review Questionsp. 312
18 Real Estate Mathematicsp. 315
Basicsp. 316
Percentagesp. 316
Using Percentage Ratesp. 318
Measurementsp. 321
Using Measurementsp. 324
Prorationsp. 325
Using Prorationsp. 327
Summaryp. 328
Review Questionsp. 329
Glossaryp. 331
Sample Examinationp. 355
Answer Keyp. 368
Indexp. 371

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