Description
This course covers the topics required by the Texas Real Estate Commission for the core course Principles of Real Estate II, which includes information for the national portion of pre-licensing preparation (those areas which are common to all states), as well as many aspects of the topic that are specific to Texas.
This Principles of Real Estate II course follows the required outline presented by the Texas Real Estate Commission (TREC). Learners will be expected to complete each lesson before moving forward to the next. In this course, we will discuss mathematics involved in real estate as well as key concepts related to the appraisal and finance of real property. The course also explores investments, leases, and property management, before further study of estates, transfers, and titles.
Topics Covered
This course focuses on the following topics:
Lesson 1: Real Estate Math
Lesson 2: Real Estate Appraisal
Lesson 3: Real Estate Financing Principles
Lesson 4: Control of Land Use
Lesson 5: Specializations
Lesson 6: Real Estate Investments
Lesson 7: Leases
Lesson 8: Property Management
Lesson 9: Estates, Transfers, and Titles
Lesson 10: Closing Procedures/Closing the Real Estate Transactions
Course Learning Objectives
Upon completion of this course, you will be able to:
- Recall some of the basics of mathematics as they apply to real estate transactions
- Summarize the requirements of becoming a licensed appraiser in Texas, as well as the basics of the appraisal process, the concepts of value and pricing a property, and the three approaches to value
- Explain sources of real estate financing and the mortgage market
- Distinguish among conventional, FHA and VA loans, identify Texas loan programs, describe government influences on mortgage lending
- Describe legislation that impacts financing
- Summarize land use controls
- Define the interstate land sales full disclosure act (ILSFDA)
- Identify environmental protection legislation
- Describe and define several types of specialization for real estate brokers and sales agents
- Analyze real estate investment possibilities
- Identify various types of investment syndicates and trusts
- Recall some real estate mortgage investment conduits
- Explain the process of leasing real estate
- Describe various leasehold estates
- Identify common lease provisions
- Summarize the Landlord and tenant act
- Recall some types of leases
- Describe the process of property management
- Identify various management considerations
- Explain the property management profession
- Define deeds and the types of deeds that exist
- Explain the concepts of title and public records, as well as evidence of title
- Summarize acquisitions and transfers, including the transfer of a decedent’s property
- Distinguish between voluntary and involuntary alienation
- Explain pre-closing and closing procedures and the conduct of a closing
- Summarize RESPA and the Uniform Settlement Statement, as well as TRID
- Explain the preparation of closing statements
