Reality of Real Estate, 3rd edition

For courses in Introductory Real Estate.

The Reality of Real Estate is written from a practical perspective–presenting concepts within the context of job competencies. It emphasizes the practices and procedures of real estate and stresses the operational and mechanical steps in the transaction such as the buying and selling; the review and assessment of title, the preparation of Deeds and Mortgages, and the preparation and completion of the settlement. Each chapter is filled with examples, forms and exercises that give students hands-on experience working with a variety of real estate situations.

Hallmark Features

Emphasizes practices and procedures of real estate–not just real estate law.

• Gives readers a natural advantage in practice because they are aware of and comfortable with standard practice in the real estate industry.

Teaches actual skills–essential for the practicing professional.

• Stresses the operational and mechanical steps in the transaction such as the buying and selling, the review and assessment of title, the preparation of Deeds and Mortgages and the preparation and completion of the settlement. 

Explains how real estate is bought and sold–using a step-by-step approach.

• Discusses buyer/seller transactions, the role of third parties, closing and settlement procedures and more! 

Uses examples, forms and checklists–throughout the text.

• Gives students hands-on experience working with forms they will encounter in a variety of real estate situations. 

Includes exercises that develop skills–throughout the text.

• Includes practical exercises such as the Closing and Deed Preparation.

Provides information on agencies and offices–that are critical to real estate practitioners.

• Provides a convenient source of listings that is an excellent reference for the real estate practitioner.

Chapter-by-chapter updates include:

• Chapter 1–now discusses a range of realty interests such as fixtures, easements, privileges, condominiums and partnership ownership
• Chapter 3–more on Association forms and formats and Professional Standards
• Chapter 5–more coverage on title abstraction and search methods
• Chapter 6–expanded coverage of Deed Covenants such as quiet enjoyment and encumbrances
• Chapter 7–more on fair and equal credit and the right of recession
• Chapter 8–expanded coverage of the Pre-Closing phase, Disclosures required under federal law, and dealing with conditions and contingencies
• Chapter 9–greater analysis of lease components
• Chapter 10–new NAR processes for the resolution of dispute
• Chapter 11–new attempts by federal regulators and legislators to deal with foreclosures