New York 22.5 Hour Package B Continuing Education #C06588

N.Y. 22.5 Hours Package B

This package meets the NEW Agency requirements for Sales and Brokers

 Section 1: THE LUCRATIVE CONDO AND CO OP MARKET 

·       Condominiums and Cooperatives

·       Common Elements and Interests

·       Role of sponsor

·       Bylaws and house rules

·       Board of Directors/Managers

·       Managing Agents

·       Offering plan

·       Market practices

·       Flipping

·       Title issues

·       Common charges

·       Maintenance fees

·       Tax deductions

·       Reserve Fund

·       Special Assessments

·       Screening

·       Financial statements

·       Condop

Section 2: Mandatory Fair Housing

·       A brief history

·       Laws and exemptions

 

·       Prohibited practices

·       Steering

·       Redlining

·       Blockbusting

·       Cease and Desist

·       Protected classes

·       Megan’s Law

·       Advertising guidelines and restrictions

·       Responsibility of brokers and salespeople

·       Legacy of segregations

·       Harassment

·       Case studies

Section 3: KEEPING OUT OF TROUBLE – Law of Agency, Lead Paint, Code of Ethics –
This section meets the NEW Agency requirements for Sales and Brokers

·       Agency and agency agreements

·       Myths vs. facts

·       Types of agency

·       Responsibilities of the agent

·       Fiduciary responsibilities

·       Statements we should never make

·       Who is my client/customer?

·       Creating written agreements

·       Agency disclosure

·       Creating and terminating the listing agreement

·       Disclosure forms

·       Effects of lead poisoning

·       History of lead paint disclosure

·       Ways to protect ourselves

·       Stigmatized properties and latent defects

·       Misrepresentation

·       Megan’s law

·       Commission and deposit money

·       Procuring cause

·       Referring agents

·       Commission escrow act

·       National Association of Realtors Code of Ethics and Standards and Practices

·       Antitrust laws

·       Market allocation

·       Mortgage broker fees

·       Risk Management

·       Vicarious liability

·       Earnest money

·       Misleading statements

·       Rebates, kickbacks, commission

·       NYS lawsuits

 Section 4: IN’S AND OUT’S OF REAL ESTATE FINANCING 

·       Mortgage basics

·       Mortgage banker/mortgage broker

·       Secured loans

·       HUD

·       VA

·       Fixed, adjustable and home equity loans

·       Reverse mortgages

·       Hard money loans

·       Mortgage underwriting

·       Subprime market

·       General procedures and requirements

·       Determining market value

·       Consumer credit counseling

·       Bankruptcy

·       Closing the loan

·       RESPA

·       Points, index, margin

·       Title report and insurance

·       Frauds, scams and red flags

 Section 5: THE IMPACT OF TAXES AND ASSESSMENTS ON THE SALE 

·       Purpose of taxation

·       Taxing jurisdictions

·       Burden of property taxes

·       Calculating property taxes

·       Assessing units

·       Depreciation

·       Income analysis

·       Capitalization rates

·       Determining assessed value

·       Tax liens

·       In rem

·       Equitable right of redemption

·       Statutory right of redemption

·       Special assessments

·       STAR exemptions

·       Reassessments

·       Building permits

·       Tax Grievances

·       Grounds for challenging assessments

·       Judicial review

·       Full and partial reassessments

·       Article 78 proceedings

·       Certiorari proceedings

·       Equalization rates

* No Partial Credit can be given for this course