About

This 10-hour renewal package for Colorado is the most cost-effective way to complete your license CE requirements. It includes the current version of the CREC Annual Commission Update Course (ACU) and Commercial Real Estate Electives.

About

The 101s of Processing Short Sales
That Every Real Estate Professional Should Know

There is no doubt that short sales are an integral part of the real estate marketplace, or that there will be short sales in the future. The basic tenets of the process have been around for a while, but with the rash of foreclosures and the ever-increasing desire (not to mention political pressure) for lenders to allow modifications or short sales, it is more important than ever that the real estate professional be equipped with the knowledge necessary to assist their clients and customers through the short sale process.

Topics Covered

This course focuses on the following topics:

Lesson 01: What Is a Short Sale?
Lesson 02: Hardship
Lesson 03: Questions
Lesson 04: Putting it Together
Lesson 05: Qualifying the Buyer
Lesson 06: Title & Follow Up
Lesson 07: Closing
Lesson 08: Short Sale Reality
Lesson 09: Stepping into a Short Sale Process
Lesson 10: Government Help
Lesson 11: Stepping into a Lender’s World
Lesson 12: Legal Face of a Short Sale

 The bank is simply a secured debtor. The bank does not do the Short Sale; it approves the Short Sale and its payoff. It is the seller who deeds the home to the Short Sale buyer, which is why the seller gets to choose who buys it.

If a new buyer steps in, their offer will have to match exactly to the terms of the short sale approval letter. If the approval letter is specific to a buyer, then the Short Sale listing agent may need to request a Short Sale approval letter for the new buyer, which could restart the whole process.

No one knows for sure if a Short Sale offer will be accepted or rejected by the lender. Just because a listing is advertised as a Short Sale doesn't mean it will be a Short Sale. It means the listing agent and the seller hope it will sell as a Short Sale and that the lender will accept the offer.

It's generally not a good idea to send an offer that is considerably lower than the list price if the home has been the market for only a few days.

There's no way to avoid gathering all the required documents for a Short Sale. Find out everything you'll need before you submit, so you don't face costly delays when the bank asks you for more information.

You may also wish to consider filing a small claims court action. In small claims court, you represent yourself, and disputes of up to $10,000 are resolved quickly and inexpensively by a judge.

State laws regarding short sale and fraud vary, and a local lawyer will be best suited to helping you understand your state’s laws regarding the matter. An experienced attorney can also help you avoid short sale fraud schemes by providing you with legal advice every step of the way, as well as represent you in court, as needed.

In short, discrimination stops people from living to their full potential.

Let’s practice empathy and the results will impress you.

A HUD home is a 1- to 4-unit residential property acquired by HUD because of a foreclosure action (REO)on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. This agency is responsible for national policy and programs that address America's housing needs, improve, and develop the Nation's communities, and enforce fair housing laws.

Appraisal Discrimination is Illegal. Federal and state civil rights laws prohibit home appraisal discrimination based on race, color, religion, national origin, sex, disability, familial status, and other protected classes. 
 The National Fair Housing Alliance has issued recommendations for the Appraisal Standards Board and Appraisal Foundation to increase equity in their policies and practices.

Simply put, CC&Rs are a description of things homeowners can and cannot do with their property on the area in which the property resides.

We introduced you to the devastating effect of biases and discrimination on our society (education, workplace, economics) and specifically on Real Estate industry. Be a part of improvement and fairness in Real Estate.

Learning Objectives

By the end of this course, you will be able to:

• Qualify the seller to see if the seller is a candidate for doing a short sale, and knowing the right questions to ask, going in.
• Collect the appropriate documents from the seller.
• Qualify the buyer.
• Determine how the Settlement Statement should look, and how you can help a title company understand what you need.
• Follow up with the lender through the process and asking the right questions.
• Understand closing.
• Learn what it means to be a “distressed” homeowner and what a “distressed” home means.
• Understand the difference between foreclosure and a Short Sale.
• Define the most misunderstood concepts like “the parties to a Short Sale Purchase Contract” and the parties to a “Short Sale transaction”.
• Summarize the pros, the cons, and Short Sales challenges to help you handle the Short Sale transaction properly.
• Understand the real estate agent’s fiduciary duties.
• Understand the proper ways to handle the latter and discover the invaluable tips to help you work with your Short Sale buyers and sellers.
• Introduction to the lending terminology and the role of the US government in pre-foreclosure and foreclosure situations.
• Learn about the US government reaction to the Short Sale/Foreclosure disasters.
• Discover the best ways to handle multiple lien holders through understanding the Short Sale process and lender’s requirements.
• Learn about the legal and ethical aspect of a Short Sale transaction.
• Understand Predatory Short Sale fraud.

 The bank is simply a secured debtor. The bank does not do the Short Sale; it approves the Short Sale and its payoff. It is the seller who deeds the home to the Short Sale buyer, which is why the seller gets to choose who buys it.

If a new buyer steps in, their offer will have to match exactly to the terms of the short sale approval letter. If the approval letter is specific to a buyer, then the Short Sale listing agent may need to request a Short Sale approval letter for the new buyer, which could restart the whole process.

No one knows for sure if a Short Sale offer will be accepted or rejected by the lender. Just because a listing is advertised as a Short Sale doesn't mean it will be a Short Sale. It means the listing agent and the seller hope it will sell as a Short Sale and that the lender will accept the offer.

It's generally not a good idea to send an offer that is considerably lower than the list price if the home has been the market for only a few days.

There's no way to avoid gathering all the required documents for a Short Sale. Find out everything you'll need before you submit, so you don't face costly delays when the bank asks you for more information.

You may also wish to consider filing a small claims court action. In small claims court, you represent yourself, and disputes of up to $10,000 are resolved quickly and inexpensively by a judge.

State laws regarding short sale and fraud vary, and a local lawyer will be best suited to helping you understand your state’s laws regarding the matter. An experienced attorney can also help you avoid short sale fraud schemes by providing you with legal advice every step of the way, as well as represent you in court, as needed.

In short, discrimination stops people from living to their full potential.

Let’s practice empathy and the results will impress you.

A HUD home is a 1- to 4-unit residential property acquired by HUD because of a foreclosure action (REO)on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. This agency is responsible for national policy and programs that address America's housing needs, improve, and develop the Nation's communities, and enforce fair housing laws.

Appraisal Discrimination is Illegal. Federal and state civil rights laws prohibit home appraisal discrimination based on race, color, religion, national origin, sex, disability, familial status, and other protected classes. 
 The National Fair Housing Alliance has issued recommendations for the Appraisal Standards Board and Appraisal Foundation to increase equity in their policies and practices.

Simply put, CC&Rs are a description of things homeowners can and cannot do with their property on the area in which the property resides.

We introduced you to the devastating effect of biases and discrimination on our society (education, workplace, economics) and specifically on Real Estate industry. Be a part of improvement and fairness in Real Estate.

About

The 101s of Processing Short Sales
That Every Real Estate Professional Should Know

There is no doubt that short sales are an integral part of the real estate marketplace, or that there will be short sales in the future. The basic tenets of the process have been around for a while, but with the rash of foreclosures and the ever-increasing desire (not to mention political pressure) for lenders to allow modifications or short sales, it is more important than ever that the real estate professional be equipped with the knowledge necessary to assist their clients and customers through the short sale process.

Topics Covered

This course focuses on the following topics:

Lesson 01: What Is a Short Sale?
Lesson 02: Hardship
Lesson 03: Questions
Lesson 04: Putting it Together
Lesson 05: Qualifying the Buyer
Lesson 06: Title & Follow Up
Lesson 07: Closing
Lesson 08: Short Sale Reality
Lesson 09: Stepping into a Short Sale Process
Lesson 10: Government Help
Lesson 11: Stepping into a Lender’s World
Lesson 12: Legal Face of a Short Sale

 The bank is simply a secured debtor. The bank does not do the Short Sale; it approves the Short Sale and its payoff. It is the seller who deeds the home to the Short Sale buyer, which is why the seller gets to choose who buys it.

If a new buyer steps in, their offer will have to match exactly to the terms of the short sale approval letter. If the approval letter is specific to a buyer, then the Short Sale listing agent may need to request a Short Sale approval letter for the new buyer, which could restart the whole process.

No one knows for sure if a Short Sale offer will be accepted or rejected by the lender. Just because a listing is advertised as a Short Sale doesn't mean it will be a Short Sale. It means the listing agent and the seller hope it will sell as a Short Sale and that the lender will accept the offer.

It's generally not a good idea to send an offer that is considerably lower than the list price if the home has been the market for only a few days.

There's no way to avoid gathering all the required documents for a Short Sale. Find out everything you'll need before you submit, so you don't face costly delays when the bank asks you for more information.

You may also wish to consider filing a small claims court action. In small claims court, you represent yourself, and disputes of up to $10,000 are resolved quickly and inexpensively by a judge.

State laws regarding short sale and fraud vary, and a local lawyer will be best suited to helping you understand your state’s laws regarding the matter. An experienced attorney can also help you avoid short sale fraud schemes by providing you with legal advice every step of the way, as well as represent you in court, as needed.

In short, discrimination stops people from living to their full potential.

Let’s practice empathy and the results will impress you.

A HUD home is a 1- to 4-unit residential property acquired by HUD because of a foreclosure action (REO)on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. This agency is responsible for national policy and programs that address America's housing needs, improve, and develop the Nation's communities, and enforce fair housing laws.

Appraisal Discrimination is Illegal. Federal and state civil rights laws prohibit home appraisal discrimination based on race, color, religion, national origin, sex, disability, familial status, and other protected classes. 
 The National Fair Housing Alliance has issued recommendations for the Appraisal Standards Board and Appraisal Foundation to increase equity in their policies and practices.

Simply put, CC&Rs are a description of things homeowners can and cannot do with their property on the area in which the property resides.

We introduced you to the devastating effect of biases and discrimination on our society (education, workplace, economics) and specifically on Real Estate industry. Be a part of improvement and fairness in Real Estate.

Learning Objectives

By the end of this course, you will be able to:

• Qualify the seller to see if the seller is a candidate for doing a short sale, and knowing the right questions to ask, going in.
• Collect the appropriate documents from the seller.
• Qualify the buyer.
• Determine how the Settlement Statement should look, and how you can help a title company understand what you need.
• Follow up with the lender through the process and asking the right questions.
• Understand closing.
• Learn what it means to be a “distressed” homeowner and what a “distressed” home means.
• Understand the difference between foreclosure and a Short Sale.
• Define the most misunderstood concepts like “the parties to a Short Sale Purchase Contract” and the parties to a “Short Sale transaction”.
• Summarize the pros, the cons, and Short Sales challenges to help you handle the Short Sale transaction properly.
• Understand the real estate agent’s fiduciary duties.
• Understand the proper ways to handle the latter and discover the invaluable tips to help you work with your Short Sale buyers and sellers.
• Introduction to the lending terminology and the role of the US government in pre-foreclosure and foreclosure situations.
• Learn about the US government reaction to the Short Sale/Foreclosure disasters.
• Discover the best ways to handle multiple lien holders through understanding the Short Sale process and lender’s requirements.
• Learn about the legal and ethical aspect of a Short Sale transaction.
• Understand Predatory Short Sale fraud.

 The bank is simply a secured debtor. The bank does not do the Short Sale; it approves the Short Sale and its payoff. It is the seller who deeds the home to the Short Sale buyer, which is why the seller gets to choose who buys it.

If a new buyer steps in, their offer will have to match exactly to the terms of the short sale approval letter. If the approval letter is specific to a buyer, then the Short Sale listing agent may need to request a Short Sale approval letter for the new buyer, which could restart the whole process.

No one knows for sure if a Short Sale offer will be accepted or rejected by the lender. Just because a listing is advertised as a Short Sale doesn't mean it will be a Short Sale. It means the listing agent and the seller hope it will sell as a Short Sale and that the lender will accept the offer.

It's generally not a good idea to send an offer that is considerably lower than the list price if the home has been the market for only a few days.

There's no way to avoid gathering all the required documents for a Short Sale. Find out everything you'll need before you submit, so you don't face costly delays when the bank asks you for more information.

You may also wish to consider filing a small claims court action. In small claims court, you represent yourself, and disputes of up to $10,000 are resolved quickly and inexpensively by a judge.

State laws regarding short sale and fraud vary, and a local lawyer will be best suited to helping you understand your state’s laws regarding the matter. An experienced attorney can also help you avoid short sale fraud schemes by providing you with legal advice every step of the way, as well as represent you in court, as needed.

In short, discrimination stops people from living to their full potential.

Let’s practice empathy and the results will impress you.

A HUD home is a 1- to 4-unit residential property acquired by HUD because of a foreclosure action (REO)on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. This agency is responsible for national policy and programs that address America's housing needs, improve, and develop the Nation's communities, and enforce fair housing laws.

Appraisal Discrimination is Illegal. Federal and state civil rights laws prohibit home appraisal discrimination based on race, color, religion, national origin, sex, disability, familial status, and other protected classes. 
 The National Fair Housing Alliance has issued recommendations for the Appraisal Standards Board and Appraisal Foundation to increase equity in their policies and practices.

Simply put, CC&Rs are a description of things homeowners can and cannot do with their property on the area in which the property resides.

We introduced you to the devastating effect of biases and discrimination on our society (education, workplace, economics) and specifically on Real Estate industry. Be a part of improvement and fairness in Real Estate.

About

The 101s of Processing Short Sales
That Every Real Estate Professional Should Know

There is no doubt that short sales are an integral part of the real estate marketplace, or that there will be short sales in the future. The basic tenets of the process have been around for a while, but with the rash of foreclosures and the ever-increasing desire (not to mention political pressure) for lenders to allow modifications or short sales, it is more important than ever that the real estate professional be equipped with the knowledge necessary to assist their clients and customers through the short sale process.

Topics Covered

This course focuses on the following topics:

Lesson 01: What Is a Short Sale?
Lesson 02: Hardship
Lesson 03: Questions
Lesson 04: Putting it Together
Lesson 05: Qualifying the Buyer
Lesson 06: Title & Follow Up
Lesson 07: Closing
Lesson 08: Short Sale Reality
Lesson 09: Stepping into a Short Sale Process
Lesson 10: Government Help
Lesson 11: Stepping into a Lender’s World
Lesson 12: Legal Face of a Short Sale

 The bank is simply a secured debtor. The bank does not do the Short Sale; it approves the Short Sale and its payoff. It is the seller who deeds the home to the Short Sale buyer, which is why the seller gets to choose who buys it.

If a new buyer steps in, their offer will have to match exactly to the terms of the short sale approval letter. If the approval letter is specific to a buyer, then the Short Sale listing agent may need to request a Short Sale approval letter for the new buyer, which could restart the whole process.

No one knows for sure if a Short Sale offer will be accepted or rejected by the lender. Just because a listing is advertised as a Short Sale doesn't mean it will be a Short Sale. It means the listing agent and the seller hope it will sell as a Short Sale and that the lender will accept the offer.

It's generally not a good idea to send an offer that is considerably lower than the list price if the home has been the market for only a few days.

There's no way to avoid gathering all the required documents for a Short Sale. Find out everything you'll need before you submit, so you don't face costly delays when the bank asks you for more information.

You may also wish to consider filing a small claims court action. In small claims court, you represent yourself, and disputes of up to $10,000 are resolved quickly and inexpensively by a judge.

State laws regarding short sale and fraud vary, and a local lawyer will be best suited to helping you understand your state’s laws regarding the matter. An experienced attorney can also help you avoid short sale fraud schemes by providing you with legal advice every step of the way, as well as represent you in court, as needed.

In short, discrimination stops people from living to their full potential.

Let’s practice empathy and the results will impress you.

A HUD home is a 1- to 4-unit residential property acquired by HUD because of a foreclosure action (REO)on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. This agency is responsible for national policy and programs that address America's housing needs, improve, and develop the Nation's communities, and enforce fair housing laws.

Appraisal Discrimination is Illegal. Federal and state civil rights laws prohibit home appraisal discrimination based on race, color, religion, national origin, sex, disability, familial status, and other protected classes. 
 The National Fair Housing Alliance has issued recommendations for the Appraisal Standards Board and Appraisal Foundation to increase equity in their policies and practices.

Simply put, CC&Rs are a description of things homeowners can and cannot do with their property on the area in which the property resides.

We introduced you to the devastating effect of biases and discrimination on our society (education, workplace, economics) and specifically on Real Estate industry. Be a part of improvement and fairness in Real Estate.

Learning Objectives

By the end of this course, you will be able to:

• Qualify the seller to see if the seller is a candidate for doing a short sale, and knowing the right questions to ask, going in.
• Collect the appropriate documents from the seller.
• Qualify the buyer.
• Determine how the Settlement Statement should look, and how you can help a title company understand what you need.
• Follow up with the lender through the process and asking the right questions.
• Understand closing.
• Learn what it means to be a “distressed” homeowner and what a “distressed” home means.
• Understand the difference between foreclosure and a Short Sale.
• Define the most misunderstood concepts like “the parties to a Short Sale Purchase Contract” and the parties to a “Short Sale transaction”.
• Summarize the pros, the cons, and Short Sales challenges to help you handle the Short Sale transaction properly.
• Understand the real estate agent’s fiduciary duties.
• Understand the proper ways to handle the latter and discover the invaluable tips to help you work with your Short Sale buyers and sellers.
• Introduction to the lending terminology and the role of the US government in pre-foreclosure and foreclosure situations.
• Learn about the US government reaction to the Short Sale/Foreclosure disasters.
• Discover the best ways to handle multiple lien holders through understanding the Short Sale process and lender’s requirements.
• Learn about the legal and ethical aspect of a Short Sale transaction.
• Understand Predatory Short Sale fraud.

 The bank is simply a secured debtor. The bank does not do the Short Sale; it approves the Short Sale and its payoff. It is the seller who deeds the home to the Short Sale buyer, which is why the seller gets to choose who buys it.

If a new buyer steps in, their offer will have to match exactly to the terms of the short sale approval letter. If the approval letter is specific to a buyer, then the Short Sale listing agent may need to request a Short Sale approval letter for the new buyer, which could restart the whole process.

No one knows for sure if a Short Sale offer will be accepted or rejected by the lender. Just because a listing is advertised as a Short Sale doesn't mean it will be a Short Sale. It means the listing agent and the seller hope it will sell as a Short Sale and that the lender will accept the offer.

It's generally not a good idea to send an offer that is considerably lower than the list price if the home has been the market for only a few days.

There's no way to avoid gathering all the required documents for a Short Sale. Find out everything you'll need before you submit, so you don't face costly delays when the bank asks you for more information.

You may also wish to consider filing a small claims court action. In small claims court, you represent yourself, and disputes of up to $10,000 are resolved quickly and inexpensively by a judge.

State laws regarding short sale and fraud vary, and a local lawyer will be best suited to helping you understand your state’s laws regarding the matter. An experienced attorney can also help you avoid short sale fraud schemes by providing you with legal advice every step of the way, as well as represent you in court, as needed.

In short, discrimination stops people from living to their full potential.

Let’s practice empathy and the results will impress you.

A HUD home is a 1- to 4-unit residential property acquired by HUD because of a foreclosure action (REO)on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. This agency is responsible for national policy and programs that address America's housing needs, improve, and develop the Nation's communities, and enforce fair housing laws.

Appraisal Discrimination is Illegal. Federal and state civil rights laws prohibit home appraisal discrimination based on race, color, religion, national origin, sex, disability, familial status, and other protected classes. 
 The National Fair Housing Alliance has issued recommendations for the Appraisal Standards Board and Appraisal Foundation to increase equity in their policies and practices.

Simply put, CC&Rs are a description of things homeowners can and cannot do with their property on the area in which the property resides.

We introduced you to the devastating effect of biases and discrimination on our society (education, workplace, economics) and specifically on Real Estate industry. Be a part of improvement and fairness in Real Estate.

About

Students will gain a thorough understanding of what constitutes a §1031 exchange, the rules and regulations that must be followed to qualify a transaction for §1031 treatment, and the variations on simultaneous exchanges that are available. They will also learn the different types of property that are deemed "like kind" for the purposes of §1031 qualification, some pitfalls to be aware of in suggesting this type of transaction, and how §1031 can give you an opportunity to add clients and commissions to your real estate practice. The student should already have some degree of familiarity with income taxation, at least as it relates to real estate, before starting this course. Tax expertise is not a prerequisite, but if you have no knowledge in this area at all, you may find the course very challenging.

Topics Covered

Lesson 1: The Basics

Lesson 2: Boot

Lesson 3: Issues in 1031 Exchanges

Lesson 4: Variations

Lesson 5: State Tax Issues

Learning Objectives

At the completion of this course, the learner will be able to:

• Describe what constitutes a §1031 exchange and the rules and regulations that must be followed to qualify a transaction for §1031 treatment
• Define the advantage of using the 1031, such as tax savings, increasing the depreciable basis of the property, adding sheltered income to your clients’ investment portfolio to diversify your client’s holdings, etc.
• Explain the variations on simultaneous exchanges that are available.
• List the different types of property that are deemed "like kind" for the purposes of §1031 qualification
• Identify the pitfalls to be aware of when suggesting this type of transaction
• State how §1031 can give brokers an opportunity to add clients and commissions to their real estate practice
• Explain to your client how an exchange can make a substantial difference in his/her tax result.

About

This 12-hour Nebraska real estate license renewal package provides you the easiest and most cost effective way to complete your real estate Continuing Education Requirements. Includes 6 hours of "R" credit.

About

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 Transaction

Throughout this section of the course, we will use the 360-day year. However, regulations in your area may require that you use the 365-day year. Also, in our calculations we will assume that the seller is responsible for expenses incurred on the closing date. However, state laws determine whether the seller is in fact legally responsible for charges incurred on this date; these laws vary and you should confirm the standard used in your state before finalizing your calculations.

Real Estate Licensees are required to notify every buyer that they should have the abstract of the property examined by an attorney or obtain a policy of title insurance. That notice must be given in writing. The written notice is a part of the TREC contract forms and is also in the TAR Buyer’s representation agreement. If either of those documents are used the buyer has received the notice. Otherwise agent must give the notice separately.

The Principal balance for a month n is equal to the principal balance for month n − 1, plus the interest due that month, minus $286.

If the property sells for an amount in excess of all the claims against it at the auction, the borrower receives the surplus.
If the lender ends up taking the property back at the auction, or an investor buys the property at the auction and sells it for a profit later, the lender keeps the surplus.

If there is disagreement about what is fair, there are mechanisms for a panel to hear evidence of the fair market value of the property, the government pays that number, and becomes owner of the property. Among other things, the law states that the government can exercise this power only if the property is being taken for a public purpose or for the public good; roads, highways, utility easements, schools, public buildings, important rights-of-way, things most would agree have a public purpose.

Another area of brokerage is Farm and Ranch Brokerage, which is sometimes classified in the same category as agricultural property.

Does this mean that you, as a sales agent or broker, must know all these things? Probably not to the extent the rancher must know them, but you should know something about these topics. How can you sell a ranch to someone if you don’t at least know the questions to ask?

The requirement that both the borrower and the lender must agree to the sale. While the borrower obviously is agreeable because the borrower will no longer be responsible for the property, the lender can be a different story. The lender may refuse permission for the sale unless the borrower agrees to remain liable for some or all of the remaining debt—or because the lender believes the property can and will bring a higher price. Or because the lender is in a bad mood. In other words, the lender has unfettered discretion to approve or deny the sale, which can be very frustrating, not only for the borrower, but also for the broker. If the lender believes the borrower does not, and will never, have the ability to pay the balance of the debt, the lender may be more amenable to the short sale that absolves the borrower of future liability.

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 evidences 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

Throughout this section of the course, we will use the 360-day year. However, regulations in your area may require that you use the 365-day year. Also, in our calculations we will assume that the seller is responsible for expenses incurred on the closing date. However, state laws determine whether the seller is in fact legally responsible for charges incurred on this date; these laws vary and you should confirm the standard used in your state before finalizing your calculations.

Real Estate Licensees are required to notify every buyer that they should have the abstract of the property examined by an attorney or obtain a policy of title insurance. That notice must be given in writing. The written notice is a part of the TREC contract forms and is also in the TAR Buyer’s representation agreement. If either of those documents are used the buyer has received the notice. Otherwise agent must give the notice separately.

The Principal balance for a month n is equal to the principal balance for month n − 1, plus the interest due that month, minus $286.

If the property sells for an amount in excess of all the claims against it at the auction, the borrower receives the surplus.
If the lender ends up taking the property back at the auction, or an investor buys the property at the auction and sells it for a profit later, the lender keeps the surplus.

If there is disagreement about what is fair, there are mechanisms for a panel to hear evidence of the fair market value of the property, the government pays that number, and becomes owner of the property. Among other things, the law states that the government can exercise this power only if the property is being taken for a public purpose or for the public good; roads, highways, utility easements, schools, public buildings, important rights-of-way, things most would agree have a public purpose.

Another area of brokerage is Farm and Ranch Brokerage, which is sometimes classified in the same category as agricultural property.

Does this mean that you, as a sales agent or broker, must know all these things? Probably not to the extent the rancher must know them, but you should know something about these topics. How can you sell a ranch to someone if you don’t at least know the questions to ask?

The requirement that both the borrower and the lender must agree to the sale. While the borrower obviously is agreeable because the borrower will no longer be responsible for the property, the lender can be a different story. The lender may refuse permission for the sale unless the borrower agrees to remain liable for some or all of the remaining debt—or because the lender believes the property can and will bring a higher price. Or because the lender is in a bad mood. In other words, the lender has unfettered discretion to approve or deny the sale, which can be very frustrating, not only for the borrower, but also for the broker. If the lender believes the borrower does not, and will never, have the ability to pay the balance of the debt, the lender may be more amenable to the short sale that absolves the borrower of future liability.

About

Real estate transactions involve a complex set of laws, regulations, and requirements. Even though the licensee will not be practicing law, it is important to know and understand how contract law, both in general and with respect to Texas in particular, impacts the ownership and transfer of property. While the practitioner is prohibited from creating contracts from scratch, he or she is authorized to complete forms promulgated by the Texas Real Estate Commission. In addition to knowing the mechanics of doing so, it is important that the practitioner knows and understands the influence contract law has on these transactions.

In this course, we will identify some key concepts of Texas Contract law, recite the basics of real estate law in general, complete a review of the introduction to contracts, explore ownership rights and limitations vis-à-vis real estate, identify a variety of contracts used in real estate, explore the details of the sales contract, discover the contingencies, addendums and amendments used in typical real estate transactions, identify the process of financing real estate, explore how title to real estate is conveyed, detail the transaction process and the closing of a deal, and identify some common contract mistakes.

Topics Covered

Lesson 1: Texas Contract Law

Lesson 2: The Basics of Real Estate Law

Lesson 3: Introduction to Contracts

Lesson 4: Ownership Rights and Limitations

Lesson 5: Contracts Used in Real Estate

Lesson 6: The Sales Contract

Lesson 7: Contingencies, Addenda, and Amendments

Lesson 8: Financing Real Estate

Lesson 9: Conveyance of Title

Lesson 10: Transaction Process and Closing

Lesson 11: Common Contract Mistakes

Learning Objectives

This course contains numerous opportunities for interaction. The student will be expected to complete each exercise, quiz, reading assignment, and exam in this course. By reviewing and examining the information presented, at the conclusion of this course, the student will be able to:

• Comprehend the Provisions of The Texas Real Estate License Act
• Recite the Basics of Contract Law
• Discover Elements of a Valid Contract and The Various Types of Contracts That Exist
• Identify Various Ownership Rights and Limitations, Including Encumbrances, Water and Mineral Rights and Environmental Issues
• Comprehend Various Contracts Used in Real Estate
• Analyze and Understand the Component Parts of a Sales Contract
• Recite the Meaning and Use of Contingencies, Addendums and Amendments
• Understand the Terminology and Process of Financing Real Estate
• Identify the Concepts and Steps Involved in Conveyance of Title
• Recite the Transaction Process and Closing
• Comprehend a Variety of Common Contract Mistakes

About

Real estate transactions involve a complex set of laws, regulations, and requirements. Even though the licensee will not be practicing law, it is important to know and understand how contract law, both in general and with respect to Texas in particular, impacts the ownership and transfer of property. While the practitioner is prohibited from creating contracts from scratch, he or she is authorized to complete forms promulgated by the Texas Real Estate Commission. In addition to knowing the mechanics of doing so, it is important that the practitioner knows and understands the influence contract law has on these transactions.

In this course, we will identify some key concepts of Texas Contract law, recite the basics of real estate law in general, complete a review of the introduction to contracts, explore ownership rights and limitations vis-à-vis real estate, identify a variety of contracts used in real estate, explore the details of the sales contract, discover the contingencies, addendums and amendments used in typical real estate transactions, identify the process of financing real estate, explore how title to real estate is conveyed, detail the transaction process and the closing of a deal, and identify some common contract mistakes.

Topics Covered

Lesson 1: Texas Contract Law

Lesson 2: The Basics of Real Estate Law

Lesson 3: Introduction to Contracts

Lesson 4: Ownership Rights and Limitations

Lesson 5: Contracts Used in Real Estate

Lesson 6: The Sales Contract

Lesson 7: Contingencies, Addenda, and Amendments

Lesson 8: Financing Real Estate

Lesson 9: Conveyance of Title

Lesson 10: Transaction Process and Closing

Lesson 11: Common Contract Mistakes

Learning Objectives

This course contains numerous opportunities for interaction. The student will be expected to complete each exercise, quiz, reading assignment, and exam in this course. By reviewing and examining the information presented, at the conclusion of this course, the student will be able to:

• Comprehend the Provisions of The Texas Real Estate License Act
• Recite the Basics of Contract Law
• Discover Elements of a Valid Contract and The Various Types of Contracts That Exist
• Identify Various Ownership Rights and Limitations, Including Encumbrances, Water and Mineral Rights and Environmental Issues
• Comprehend Various Contracts Used in Real Estate
• Analyze and Understand the Component Parts of a Sales Contract
• Recite the Meaning and Use of Contingencies, Addendums and Amendments
• Understand the Terminology and Process of Financing Real Estate
• Identify the Concepts and Steps Involved in Conveyance of Title
• Recite the Transaction Process and Closing
• Comprehend a Variety of Common Contract Mistakes

About

This 18-hour continuing education course package for Nebraska provides you the fastest and most cost effective way to complete your real estate Continuing Education and Broker Approved Training Requirements to renew your Nebraska real estate license. This course package contains at least 6 hours of "R" credit and meets the REALTOR® Ethics requirements.

About

This 18-Hour Teams license renewal package for Nebraska real estate licensees provides you the fastest and most cost effective way to complete your real estate Continuing Education and Team Training Requirements. This course package contains at least 6 hours of "R" credit and meets the REALTOR® Ethics requirements (Check with your local association).

About

This 8-hour license renewal package includes the most current CREC Annual Commission Update (ACU) course and elective courses focused on the daily practice of real estate professionals to help you meet your Colorado licensing requirements in 2025.