MCCCD Program Description

Real Estate Principles II

Course: REA180

First Term: 1990 Fall

Lecture 3 Credit(s) 3 Period(s) 3 Load
Subject Type: Occupational
Load Formula: S

Description: Advanced work in real estate including escrow procedures and title insurance, liens and encumbrances, advanced contracts, water rights, toxic waste and environmental hazards, agency, ethics and professional relationships, real estate code and the Commissioner`s rules, investment, property management, and government restrictions

MCCCD Official Course Competencies
1. Complete a listing agreement. (I) 2. Complete a sales contract for cash, new financing, cash to loan (assumption and subject to), and junior loan from a third party and seller financing. (I) 3. Describe the procedures for closing escrow. (II) 4. Calculate closing costs and prorations. (II) 5. Describe the recording process. (II) 6. Compare an abstract of title with a title report. (II) 7. List major specific liens. (III) 8. List major general liens. (III) 9. Describe the characteristics of various common types of leases. (IV) 10. Describe the main components of the Landlord/Tenant Act. (IV) 11. Describe the major provisions of a Management Agreement. (IV) 12. Calculate rates of return on investment by various prescribed methods.(V) 13. Describe various government restrictions and limitations affecting real estate activities. (VI) 14. Describe the effects of toxic waste and environmental hazards on real estate activities. (VII) 15. Describe various water rights and their transfer in Arizona. (VIII) 16. Describe principle-agent relationships. (IX) 17. List ethical standards of practice of the real estate industry. (X) 18. Describe the Arizona Real Estate Code and Rules and Regulations as found in Title 32, Chapter 20, Arizona Revised Statutes. (XI)
MCCCD Official Course Competencies must be coordinated with the content outline so that each major point in the outline serves one or more competencies. MCCCD faculty retains authority in determining the pedagogical approach, methodology, content sequencing, and assessment metrics for student work. Please see individual course syllabi for additional information, including specific course requirements.

MCCCD Official Course Outline
I. Advanced Contracts A. Listing Agreements B. Sales Contracts II. Escrow Procedures A. Abstracts and Title Reports B. Title Insurance C. Closing Procedures D. Prorations and Closing Costs E. Recording Process III. Liens and Encumbrances A. Specific Liens B. General Liens IV. Property Management A. Types of Leases B. Landlord/Tenant Act C. Management Contracts D. Recordkeeping Requirements V. Investment A. Methods of Investment B. Mathematics of Investment VI. Government Restrictions and Limitations A. Discrimination B. Lending C. Zoning D. Advertising E. Anti-Trust F. Subdivisions VII. Toxic Wastes and Environmental Hazards A. Specific Problems B. Warranties and Disclosures VIII. Water Rights A. Riparian, Accretion, and Erosion B. Groundwater IX. Agency A. Principle-Agent Definition B. Fiduciary Responsibility C. Obligation to Parties X. Ethics and Professional Relationships A. Standards of Practice B. Codes of Ethics C. Professional Organization XI. Real Estate Code and the Commissioner`s Rules and Regulations A. ARS 32-20 B. Commissioner`s Rules and Regulations

MCCCD Governing Board Approval Date: 12/12/1989

All information published is subject to change without notice. Every effort has been made to ensure the accuracy of information presented, but based on the dynamic nature of the curricular process, course and program information is subject to change in order to reflect the most current information available.