Michigan Real Estate Salesperson (40 Hours)

Introduction: Anatomy of the Real Estate Transaction 31 Topics

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Getting Started

Comparative Market Analysis

Listing Appointment

Listing the Property

Title Insurance

Multiple Listing Service (MLS)

Disclosures

Buyers Agents

Showing of Ms. Barton’s Home and Generation of Purchase Offer by the Buyer’s Agent

Earnest Money Deposit

Financing Letter For The Buyer

Contingency(ies)

Counteroffer by Mrs. Barton

Review and Acceptance of the Counteroffer by the Purchasers

Equitable Interest of the Purchaser in Mrs. Barton’s Property

Updating the Title Insurance

Purchaser Formally Applies for a Mortgage

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Chapter 1: Introduction to Real Estate Fundamentals 37 Topics | 1 Quiz

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What is Real Property?

What is an Attachment or Fixture?

Trade Fixture

What is Personal Property?

Severance

Real Property License

Real Property and Personal Property During the Sales Process

Appurtenant Rights in Real Property

Appurtenant Air Rights

Appurtenant Water Rights

Appurtenant Water Rights (Riparian)

Appurtenant Water Rights (Littoral)

Below Ground Water Rights

Appurtenant Accession Rights

Appurtenant Mineral Rights

Appurtenant Profit Rights

Physical Characteristics of Real Property

Physical Factors Affecting Land Use

Economic Characteristics of Real Property

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Chapter 2: Freehold & Non-freehold Estates, Business Entities and Encumbrances 24 Topics | 1 Quiz

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What is an Estate in Real Property?

Freehold Estates

Freehold Estates Fee Simple

Freehold Estates Life Estates

Methods of Holding Title (Ownership) In a Freehold Estate

Condominiums

Cooperatives

Timeshares

Business Entity Structure

Nonfreehold or Leasehold Estates

Nonfreehold or Leasehold Estates- Estate for Years

Nonfreehold or Leasehold Estates- Estate From Year to Year or Periodic Estate

Nonfreehold or Leasehold Estates- Estate at Will

Nonfreehold or Leasehold Estates- Estate at Sufferance

Encumbrances in Real Property

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Chapter 3: Federal and State Specific Law (Statute) 5 Topics | 1 Quiz

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The Practice of Real Estate Licensee Statutory Obligations

Occupational Code Act 299 of 1980

Federal and State Specific Law (Statute) Quiz

Chapter 4: Federal & State Fair Housing Law 14 Topics | 1 Quiz

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Federal Fair Housing Laws

Federal Fair Housing Laws Prohibited Business Practices

Federal Fair Housing Law

Federal Fair Housing Laws Enforcement and Penalties

Federal Fair Housing Laws Exemptions

Federal Fair Housing Americans with Disabilities Act

Michigan Specific Fair Housing Law Elliot Larsen Civil Rights Act

Elliot Larsen Civil Rights Act Violations

Elliot Larsen Civil Rights Act Enforcement

Elliot Larsen Civil rights Act Penalties

Elliot Larsen Civil Rights Act Exemptions

Michigan Persons with Disabilities Civil Rights Act of 1976 (Michigan Specific Fair Housing Law)

Michigan Persons with Disabilities Civil Rights Act of 1976 Prohibitions

Federal State Fair Housing Law Quiz

Chapter 5: Understanding Real Estate Agency 28 Topics | 1 Quiz

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Introduction to Agency

Creating an Agency Relationship

Introduction to Agency

Creating an Agency Relationship

Classification of Agency Relationships

Duties of a real Estate Agent to their Client

Duties of a Real Estate Agent to Their Client

Material Fact

Breach of an Agency Duty

Client Vs. Customer

Dissolving an Agency

Conclusion of a Real Estate Agency

Real Estate Agents Duties After an Agency is Over

Players in a Real Estate Transaction

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Chapter 6: Understanding Contract Law 19 Topics | 1 Quiz

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What is a Contract?

Types of Contracts

Elements of a Valid Enforceable Contract

Contract Conditions

Discharge of Contracts

Assignment of Contracts

Breaching a Contract

Breaching a Contract (Remedies)

Various Types of Contracts Specific to Real Estate

General Requirements of an Offer or Purchase Agreement

Multiple Offers

Various Types of Contracts Specific to Real Estate

Understanding Contract Law Quiz

Chapter 7: Transfer of Title 25 Topics | 1 Quiz

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Alienation of Title

Private Land Ownership

Deeds

Wills

Involuntary Alienation (I Do Not Want to Give Up My Real Estate)

Recordation

Title Insurance

Title Insurance – Marketable v. Insurable

Title Insurance

Real Estate Closing

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Chapter 8: Real Estate Finance 12 Topics | 1 Quiz

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Loan/Mortgage Concepts and Terms

Types of Loans

Applying for a Loan to Closing

Financing, Credit Laws, and Rules

Underwriting

Real Estate Finance Quiz

Chapter 9: Valuation and Market Analysis 13 Topics | 1 Quiz

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Appraisals

Appraisals (Continued)

Types of Value Placed on Property

Value

Appraisal Terminology Usable and Rentable Area

Appraisal Terminology Measuring Vacant Land

Appraisal Methods

Appraisal

Comparative (Competitive) Market Analysis

Appraisal V. CMA Key Differences

Valuation and Market Analysis Quiz

Chapter 10: Public & Private Land Use Controls 13 Topics | 1 Quiz

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Government Rights in Real Property

Government Rights in Real Property Zoning

Government Rights in Real Property

Government Regulation of Special Land Types

Government Rights in Real Property

Environmental Hazards

Private Restrictions

Public Private Land Use Controls Quiz

Chapter 11: Required Disclosures 9 Topics | 1 Quiz

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Property Condition

Agency Disclosure

Sellers Disclosure of Material Facts

Lead Paint Disclosure

Required Disclosures Quiz

Chapter 12: Leasehold Estates and Property Management 12 Topics | 1 Quiz

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What is an Estate in Real Property

Property Management

What is an Estate in Real Property

Nonfreehold or Leasehold Estates – Estate for Years

Nofreehold or Leasehold Estates- Estate from Year to Year or Periodic Estate

Nonfreehold or Leasehold Estates – Estate at Will

Property Management

Leasehold Estates and Property Management Quiz

Chapter 13: Real Estate Math 26 Topics | 1 Quiz

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Michigan Real Estate Broker Preparation Exam

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