Alabama Prelicense Fundamentals

$299.00
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  • Course Delivery: Online Interactive
  • Duration: 60

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Description

This prelicense course begins by introducing the student to various types of real estate careers, activities, companies, and governmental agencies that regulate the industry. Then the course explores property rights, forms of ownership, property restrictions, and zoning. Students will learn the mathematical calculations and formulas commonly used in the real estate industry. The course provides an overview of agency relationships, contract law, property transfers, listing agreements, and deeds as well as environmental issues that licensees may encounter. The general prelicense section ends with an exploration of loans and the loan process, leasing, appraisal methods, and fair housing laws. The Alabama license law section examines state laws governing real estate licensing, licensee conduct, and the organization and duties of the Alabama Real Estate Commission. Students will learn about the requirements for securing and maintaining a license, the real estate-related activities that require a license, and the responsibilities of a qualifying broker. This course provides an overview of the Alabama Real Estate Consumers Agency and Disclosure Act (RECAD) and the Real Estate Recovery Fund, as well as violations of Alabama License Law and Commission Rules, the disciplinary action process, penalties for licensees, and the appropriate way to handle trust funds.

 

Course Objectives

Upon completion of this course, the student will be able to:
- Learn about the various types of real estate careers, activities, companies, and governmental agencies that regulate the industry.
- Explore theproperty rights, forms of ownership, property restrictions, and zoning.
- Learn the mathematical calculations and formulas commonly used in the real estate industry.
- Be familiar with agency relationships, contract law, property transfers, listing agreements, and deeds as well as environmental issues that licensees may encounter.
- Explore the concept of loans and the loan process, leasing, appraisal methods, and fair housing laws
- Learn about the requirements for securing and maintaining a license, the real estate-related activities that require a license, and the responsibilities of a qualifying broker. - - Get an overview of the Alabama Real Estate Consumers Agency and Disclosure Act (RECAD) and the Real Estate Recovery Fund, as well as violations of Alabama License Law and Commission Rules, the disciplinary action process, penalties for licensees, and the appropriate way to handle trust funds.

 

Topics Covered

This course covers the following topics:
Career Basics
Real Estate Law Violations
Real Property Rights
Characteristics of Real Property
Land Use
Fixtures
Land, Tenements, Hereditaments, and Estates
Life Estates
Life Tenants and Nonfreehold Estates
Concurrent Ownership
Condominiums and Cooperatives
Time Shares and Business Organization Ownership
Easements and Liens
Conditions, Covenants, Restrictions and Encroachments
Zoning
Real Estate Ownership: A Summary
Real Estate Math: Formulas
Real Estate Math: Prorations
Real Estate Math: Survey Systems
Agency and Brokerage Relationships
Brokerage
Dual Agency
Listing Agreements
Legal Descriptions
Basic Contract Law
Types of Contracts
Fraud and Voidability
Termination of Contracts
Sale Contracts
The Selling Process
Deeds: Part 1
Deeds: Part 2
Title Insurance
Environmental Issues
Asbestos and Formaldehyde
Real Estate Financing Practices
Types of Mortgages
Mortgage Bankers
FHA and VA Programs
Veterans' Administration Loans
The Loan Process
Lending Regulations
Principals of Financing
Basics of Leasing
Lease Contracts
Property Management
Real Estate Valuation
Comparative Market Analysis
Highest and Best Use
Appraisal Steps
The Net Income Approach
The Cost Approach
Escrow and Settlement Process
Closing Basics
Fair Housing Laws Protected Classes and Blocking
Americans with Disabilities Act
History of Fair Housing in America
Fair Housing: Law of the Land
Fair Housing Rules
Introduction to the Alabama Real Estate Commission
Licensure
Qualifications and Responsibilities of Brokers and Salespersons
Real Estate Consumers Agency and Disclosure Act (RECAD)
Recovery Fund Alabama License Law Violations Disciplinary Actions Trust Accounts

 

Regulatory Information

Alabama Prelicense Fundamentals - Alabama Real Estate Commission

  • Name:
  • Alabama Real Estate Commission
  • Phone:
  • 334-242-5544
  • Fax:
  • 334-270-9118
  • Website URL:
  • https://arec.alabama.gov/arec/default.aspx
  • Email Address:
  • arec@arec.alabama.gov
  • Address:
  • 1201 Carmichael Way
  • City:
  • Montgomery
  • State:
  • AL
  • Zip:
  • 36106-3674
 

Prerequisites

n/a

 

End of Course Instructions

Congratulations on successfully finishing your course! These credits count toward your Alabama Real Estate Continuing Education requirement, and your school of record will submit your credits to the commission upon receipt of the Course Evaluation Form AND the Proctor Form. You should now print a copy of your certificate of completion to keep for your own records. Thank you!

 

Quiz Information

75% on quizzes

 

Exams

75% on final

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