Michigan Real Estate Principles And Practices 6th Edition
If you are looking to start a career in real estate in Michigan, then Michigan Real Estate Principles and Practices 6th Edition is the perfect book for you. This book is designed to teach you the fundamentals of real estate in Michigan and prepare you for the state licensing exam.
The book covers a wide range of topics, including property ownership, contracts, financing, and property management. It also covers the rules and regulations governing real estate in Michigan, as well as the ethical considerations involved in the industry.
Property Ownership
The first section of the book covers property ownership. This section explains the different types of property ownership, including fee simple, joint tenancy, and tenancy in common. It also covers the legal requirements for transferring ownership of property, including deeds and title searches.
In addition, this section covers the rights and responsibilities of property owners, including zoning regulations, property taxes, and environmental regulations.
Contracts
The next section of the book covers contracts. This section explains the different types of contracts involved in real estate transactions, including purchase agreements, listing agreements, and lease agreements. It also covers the legal requirements for creating and enforcing contracts.
In addition, this section covers the different types of contingencies that can be included in real estate contracts, including financing and inspection contingencies.
Financing
The financing section of the book covers the different types of financing available for real estate transactions, including mortgages, loans, and government programs. It also covers the legal requirements for obtaining financing, including credit checks and income verification.
In addition, this section covers the different types of interest rates and fees associated with real estate financing, as well as the potential risks and benefits of each option.
Property Management
The property management section of the book covers the different types of property management, including residential and commercial property management. It also covers the legal requirements for property management, including licensing and insurance.
In addition, this section covers the different types of services provided by property managers, including tenant screening, rent collection, and property maintenance.
Rules and Regulations
The final section of the book covers the rules and regulations governing real estate in Michigan. This section explains the different types of laws and regulations that apply to real estate transactions, including federal and state laws, as well as local ordinances.
In addition, this section covers the ethical considerations involved in the real estate industry, including fair housing laws and ethical standards for real estate professionals.
Overall, Michigan Real Estate Principles and Practices 6th Edition is an essential resource for anyone looking to start a career in real estate in Michigan. The book provides a comprehensive overview of the industry, covering everything from property ownership to ethical considerations.