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• Cover
• Title Page
• Copyright Page
• Introduction
• About This Book
• Foolish Assumptions
• Icons Used in This Book
• Beyond This Book
• Where to Go from Here
• Part 1: Putting Real Estate License Exams into Perspective
• Chapter 1: Sold! Taking a Glance at Real Estate License Exams
• Checking Out Licensing and Exam Basics
• Sign Me Up: Registering for the Exam
• Knowing What to Take to the Exam … and What to Leave at Home
• Scoring High: Figuring Out How Scores Are Determined
• Take Two: Retaking the Exam
• Chapter 2: Using Successful Study and Test-Taking Techniques
• One Word to Get You Through: PREPARE
• Trying Terrific Test-Taking Strategies
• Part 2: So You Want to Sell Real Estate: The Job and Basic Laws
• Chapter 3: The Job: It Isn’t Just Driving People Around
• Recognizing Those in the Real Estate Business and How They Got There
• Knowing What a Real Estate Broker/Salesperson Does
• Understanding How a Real Estate Broker/Salesperson Gets Paid
• Working Hard: Career Opportunities
• Property Management: A Special Kind of Career Opportunity
• Managing a Real Estate Office: You’re the Boss, Ms. or Mr. Broker
• Working As an Independent Contractor
• Focusing on Job-Related Laws That You Need to Understand
• Review Questions and Answers
• Chapter 4: Understanding Agency Law
• Becoming Someone’s Real Estate Agent: You’re Hired
• Keeping the Faith: The Relationship between an Agent and a Principal
• Meeting Obligations: The Relationship Between an Agent and a Customer
• Making Money (No, Not at the Copy Machine)
• Parting Is Such Sweet Sorrow: Ending an Agency Relationship
• Review Questions and Answers
• Chapter 5: Knowing the Fair Housing Laws for Selling Real Estate
• Practicing Fair Housing: The Basics
• Don’t Do It: Avoiding Discriminatory Actions
• Feeling Safe: Identifying Who’s Protected
• Bending the Rules: Understanding Exceptions to the Law
• Extra Coverage: Protecting the Disabled from Discrimination
• Staying Strong: Enforcing the Law
• Review Questions and Answers
• Part 3: It’s All Mine: Owning and Transferring Real Estate
• Chapter 6: Owning It: Estates and Interests
• What Do You Own? Understanding Ownership Terms
• Estates (Even Without the Castles)
• Eyeing Different Ownership Rights
• Review Questions and Answers
• Chapter 7: Understanding Forms of Real Estate Ownership
• Real Estate Ownership: A Solo or Group Activity
• Special Types of Ownership: Cooperatives, Condominiums, and More
• Review Questions and Answers
• Chapter 8: Knowing the Limitations on Real Estate Ownership
• Carrying a Not-So-Heavy Encumbrance: Private Limitations on Property Use
• Land-Use Regulation: A Major Public Limitation
• The Government Has Its Say: Other Public Limitations on Property Use
• Review Questions and Answers
• Chapter 9: Transferring Ownership: Deeds and Title Closing
• Doing the Deed: Delving into Deed Basics
• Getting Closure: Title Closing
• Review Questions and Answers
• Chapter 10: Giving Up or Losing Property
• Fine by Me: Giving Up Property Voluntarily
• By Force: Losing Property Involuntarily
• Losing Property Very Involuntarily: Passing Title After Passing Away
• Review Questions and Answers
• Part 4: A House Is Made of Lots of Paper: Legal and Physical Issues
• Chapter 11: Contracts 101
• Agreeing to Do Something: The Basics of Making a Contract
• So Many Choices: Examining Types of Real Estate Contracts
• The End of the Line: Discharging a Contract
• Breaching a Real Estate Contract
• Review Questions and Answers
• Chapter 12: Leasing Property
• Identifying Who’s Who and What’s What
• The Usual Suspects: Preparing a Typical Lease
• Distinguishing among Various Types of Leases
• Breaking a Lease: Types of Eviction
• Getting What You Paid For
• Review Questions and Answers
• Chapter 13: Dealing with Environmental Government Regulations and Issues
• Deciphering the Federal Government Alphabet Soup
• Assessing the Environmental Effects of Building Developments
• This Stuff Can Make You Sick: Examining Environmental Pollutants and Situations
• Go with the Flow: Water and Waste Issues
• Review Questions and Answers
• Part 5: You Want How Much? Valuation and Financing of Real Estate
• Chapter 14: Appraising Property
• Figuring Out Appraisal Basics
• Understanding the Importance of Location!
• Arriving at Different Types of Value
• Creating, Changing, and Affecting Values: Some Economic Factors
• Finding Value by Analyzing Comparable Sales
• Finding Value by Analyzing Replacement Cost and Depreciation
• Finding Value by Analyzing a Property’s Income
• Reconciling a Property’s Value
• Review Questions and Answers
• Chapter 15: Finding the Money: Mortgages
• The Way Things Work: Mortgage Basics
• Examining Sources of (and Insurance for) Funding
• Considerations for Lenders Accepting Mortgages
• Grasping the Different Types of Mortgages
• Comprehending Mortgage Repayment Plans
• Endings You Didn’t Anticipate: Foreclosures, Assumptions, and Assignments
• Being Fair: Consumer Protection Laws
• Review Questions and Answers
• Chapter 16: It’s So Taxing: Real Estate Assessment and Taxes
• Who Wants Your Money, and What Do They Want with It? Collecting Taxes
• Recognizing What’s So Special about Assessments
• Go Figure! Calculating Taxes Step by Step
• Home Free (Sort of): Eyeing Property Tax Exemptions
• That’s Not Right: Protesting Assessments
• Pay or Lose: Tax Liens and Sales
• Review Questions and Answers
• Chapter 17: Investing in Real Estate
• Focusing on Property Investment
• Partnering Up: Real Estate Investment Organization Structures
• Spending Spree: Acquiring and Building Investments
• Making Money by Investing in Real Estate
• Getting Uncle Sam’s Help: The Government’s Role in Investing
• By the Numbers: Analyzing Investment Properties
• Review Questions and Answers
• Chapter 18: All in the Numbers: Real Estate Mathematics
• Don’t Lose the Faith, but You May Have to Convert
• Land and Buildings: Measuring Area and Volume
• Percentages: Pinpointing What You Really Need to Know
• Commissions: Tracking Your Moolah
• Making Mortgage Calculations without a Fancy Calculator
• Oh, the Pain: Calculating Taxes
• Putting Proration into Perspective
• Appreciating Appreciation and Depreciation
• Estimating Appraised Value
• Review Questions and Answers
• Part 6: You’re Ready: Taking Practice Exams
• Chapter 19: Practice Exam One
• Chapter 20: Answers and Explanations to Practice Exam One
• Chapter 21: Practice Exam Two
• Chapter 22: Answers and Explanations to Practice Exam Two
• Chapter 23: Practice Exam Three
• Chapter 24: Answers and Explanations to Practice Exam Three
• Chapter 25: Practice Exam Four
• Chapter 26: Answers and Explanations to Practice Exam Four
• Part 7: The Part of Tens
• Chapter 27: Ten Things to Find Out from Your State’s Real Estate Law
• Agency Law
• Fair Housing
• License Law
• Limitations on Land Use
• Money Stuff
• Ownership Rights, Forms, and Theories
• Property Disclosure
• Tenants’ Rights and Rent Control
• Transferring Ownership Involuntarily
• Transferring Ownership Voluntarily
• Chapter 28: Ten Tips to Help You Succeed on the Exam
• Taking the Exam as Soon as You Can
• Knowing the Rules (and Following Them)
• Studying Your State License Law
• Remembering Important Vocabulary
• Focusing on Key Concepts
• Eating Something
• Staying Cool, Calm, and Collected
• Paying Attention (without Overthinking)
• Going with Your Initial Instinct
• Finishing the Job
• Appendix A: Glossary
• Index
• About the Author
• Connect with Dummies
• End User License Agreement