Week 5 Assignment

Purpose: The purpose of your weekly assignments is to create a quick reference studyguide to assistyou in preparing for the California Real Estate SalespersonLicense Exam

Instructions: Respond to the prompts listed below in all parts (part 1- no need to write complete sentences... write what will help you on the state exam). Copy and paste prompts into a Word doc and save. Submit the assignment by clicking on 'Browse My Computer' then upload. You may also type your responses.

Part 1: Study Guide

Chapter 11:

1. List the series of events that take place during closing
2. Discuss responsibilities for getting tasks done and who pays for them (home inspection, etc.)
3. Describe the process for estimating seller's net proceeds and buyer's net cost (how-to)
4. Describe federal and state laws that regulate settlement
5. Summarize the real estate agent's role during the closing process

Chapter 12:

1. Discuss the basics of investing in real estate
2. Explain the differences between types of managed properties
3. Describe how property management is organized
4. List the functions of the management agreement and plan
5. List the various roles of the property manager