Course Outline of Record

Item	Value
Curriculum Committee Approval Date	03/23/2022
Top Code	051100 - Real Estate
Units	3 Total Units
Hours	54 Total Hours (Lecture Hours 54)
Total Outside of Class Hours	0
Course Credit Status	Credit: Degree Applicable (D)
Material Fee	No
Basic Skills	Not Basic Skills (N)
Repeatable	No
Open Entry/Open Exit	No
Grading Policy	Standard Letter (S),  Pass/No Pass (B)

Course Description

Designed for those preparing for the state real estate license examination and for those interested in the various aspects of real estate ownership and sales. Transfer Credit: CSU.

Course Level Student Learning Outcome(s)

1. Identify and define technical and legal real estate terms.
2. Identify the flow of a real estate transaction from beginning to end.
3. Identify issues affecting a real estate transaction and how those issues can be resolved.

Course Objectives

• 1. Describe and identify real estate technical terms.
• 2. Compare and contrast real estate contract from agency forms.
• 3. Interpret escrow procedures.
• 4. Compare various financing practices.
• 5. Distinguish and differentiate real estate encumbrances and liens.
• 6. Identify the different ways to transfer title.
• 7. Differentiate between required taxes, property taxes, assessments, and gift or estate taxes.
• 8. Evaluate the proper type of appraisal based on the subject property.
• 9. Identify differences between leasehold and freehold estates.
• 10. Distinguish title insurance from property/fire insurance.

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Lecture Content

Introduction to Real Estate Importance; Cost; Commissions Historical Influence Real and Personal Property Methods of Land Description California Facts Estates, Transfers and Titles and Encumbrances Estates (Freehold and Less-Than-Freehold Acquisitions and Transfers Title (Forms of Ownership) Recording and Acknowledgment Liens Items That Affect Physical Use (Non-Money Encumbrances) Homesteading Your Residence Agency and Its Responsibilities Disclosure of Agency Relationship Listings and the "MLS" Transfer Disclosure Statement Agent s Other Responsibilities Terminating An Agency Relationship Contracts and Real Estate Math Elements of a Contract Performance, Discharge, and Breach of Contract Remedies for Breach of A Contract The Deposit Receipt Purchase Options

Real Estate Mathematics Real Estate Finance The Promissory Note (Negotiable Instrument) Important Clauses in Financing Instruments Interest and Types of Loans Points, Loan Fees, and Usury Mortgages Trust Deeds Default and Foreclosure of a Trust Deed Second Trust Deeds (Junior T D's)Land Contract (Conditional Installment Sales Contract) Truth in Lending Act (Regulation "Z") and Other Acts Financial Institutions Shopping for a Loan Sources of Real Estate Funds Institutional Lenders Government Financing Programs FHA (Insured Loans) Veterans Administration CAL-VET (Land Contract) Government Lending Corporations Real Estate Broker can Make Loans Appraisal Basics and Appraisal Methods The Appraisal Process Definition of the Appraisal Problem Gathering Data General Data &n bsp; Specific Data Improvements Basic Appraisal Principles Comparative Approach Cost Approach Capitalization Approach Correlation of Value Final Estimate of Value Licensing, Fee Appraisers, and Appraisal Organizations Escrows and Title Insurance How Escrows Work Proration Termites and Other Problems Fire Insurance Title Insurance Types of Title Insurance Policies Real Estate Settlement Procedures Act (RESPA-1976) Landlord and Tenant Leasehold Estates (Less-Than-Freehold) Termination of a Lease (or Rental Agreement) Special Purpose Leases Property Manager (Must have Real Estate License) Professional Associations Subdivision and Government Control, Zoning, and Other Public Controls Common Interest Ownership Eminent Domain Fair Housing Laws Taxation of R eal Estate Property Taxes Special Assessment Tax Gift and Estate Taxes Federal, State, and Local Income Taxes Taxes on Personal Residence Taxes for Income Producing Properties Sale of Real Property Installment Sales and Exchanges We are Now Tax Collectors (Federal and State Income Tax Laws) Other Taxes Paid by Brokers Licensing, Education, and Associations Real Estate License Requirements Business Opportunity Brokerage

Method(s) of Instruction

• Lecture (02)
• DE Online Lecture (02X)

Instructional Techniques

1. Describe and identify real estate technical terms.              2.  Compare and contrast real estate contract from agency forms.              3.  Interpret escrow procedures.              4.  Compare various financing practices.              5.  Distinguish and differentiate real estate encumbrances and liens.              6.  Identify the different ways to transfer title.              7.  Differentiate between required taxes, property taxes, assessments, and gift or estate taxes.              8.  Evaluate the proper type of appraisal based on the subject property.              9.  Identify differences between leasehold and freehold estates.            10.  Distinguish title insurance from property/fire insurance.

Reading Assignments

Homework assignments: Assigned Chapter reading in the text, questions and quizzes,  definition practice.

Writing Assignments

Homework assignments: questions, definitions, projects.

Out-of-class Assignments

Homework assignments: Assigned Chapter reading in the text, questions and quizzes,  definition practice

Demonstration of Critical Thinking

Classroom participation, homework assignments, and special projectsQuizzes and examinations

Required Writing, Problem Solving, Skills Demonstration

Homework assignments: questions, definitions

Textbooks Resources

1. Required Huber, Walt.. California Real Estate Principles., 16th ed. Educational Textbooks Company, Inc., 2019 Rationale: - 2. Required Rockwell and Haupt. California Real Estate Principles, 19th ed. Rockwell Publishing, Inc., 2021