REES 1000 - Real Estate Principles

4.5 Credits

Students learn general principles of real estate. Topics presented include real property rights, real estate transactions, property ownership, real estate financing, appraisal, brokerage, legal instruments, real estate markets, planning and regulations.

Lecture Hours: 4.5
Lab Hours: 0.0
Internship Hours: 0.0
Clinical or Practicum Hours: 0.0

Course Objectives

List basic real estate terms such as types of housing, classifications, ownership as well as laws.
Identify the different types of estates and ownership and the limitations that exist with each.
Explain the methods used to describe real estate including methods of measurement.
Describe the basics of real estate brokerage and laws that an agent must follow as well as define agency.
List the items required to have valid listing agreements and contracts and examples of when they can be enforced or terminated.
Explain the factors required to finance a property and types of products available.
Describe the closing procedure and types of taxes and liens in a transaction.
Discuss the process of valuing a home using the three most common approaches in appraisal.
Explain the various federal laws of fair housing and how they apply to the sale of real estate as well as the area of property management.
Define how land can be used in terms of zoning and codes and how environmental hazards come into play.

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