8 Hour Course
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Course ID: RECE004592
Approved By: Pennsylvania State Real Estate Commission
This premier 8-hour package is specially designed for Pennsylvania real estate professionals who will be working in or overseeing property management as part of their real estate career. Our professionally-developed content provides real estate licensees with an overview of the most important topics and concepts related to the ownership and management of real property.
We begin our course with a look at the basics of real property, including distinguishing real property from personal, understanding how to determine if an item is a "fixture" or part of the property, and a review of the "bundle of rights" associated with ownership and possession of real property. We'll also take a close look at the different forms of possession and ownership or "estates" that can be held, leases and leasehold estates, and common ownership forms, among other real property issues.
Next, we'll talk about legal descriptions' role and history in the real estate industry, and their indispensability in properly identifying real property in any transaction. We'll follow this with a long look into land use controls, both public and private, and how they affect real property ownership. This includes in-depth discussions of the government's police powers, such as taxing, eminent domain, and escheat. Plus, we'll take time to study the processes of comprehensive plans, master plans, and zoning, as well as a review of several significant environmental issues.
Our focus then will turn to valuation and taxation of real property, and into the complex world of real estate investment. In our discussion, we'll cover a variety of key elements impacting these areas, including (but far from limited to) the primary methods of valuation; the appraisal process; calculation and proration of property taxes; and appreciation, depreciation, and capital gains impacts on real estate investing, as well as developing an investment strategy.
Next, we'll spend time on the specifics of property management, beginning with the economics of property management, such as pricing factors, supply and demand, economic and market trends, and how to calculate a capitalization rate. We'll also cover common property management expenses and budgeting, as well as determining the goals and objectives of the property owner.
Finally, we'll take a long look at the difficult matter of foreclosure and its impact on real property transactions. This includes discussions of defaults, judicial versus non-judicial foreclosures, and the parties' rights in the foreclosure process.
This course includes four incremental exams, each of which must be passed before moving to the next section, and a questionnaire at the end which MUST be answered to complete the course.