FI425 Principles of Real Estate

for U1J 2012

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Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.


FI 425 Principles of Real Estate


U1J 2012 IN


Hodges, Wayne Edward


Finance/Adjunct Faculty


Certified with the Kansas Real Estate Commission
Certified with the Missouri Real Estate Commission

Office Location

8700 NW River Park Drive, Parkville, MO 64152

Office Hours

8:00 a.m. to 5:00 p.m.

Daytime Phone


Other Phone



Web Page

Semester Dates

06/04/2012 to 07/29/12

Class Days


Class Time

5:30 - 10 PM



Credit Hours


Real Estate Principles 11th Edition
Charles J. Jacobus
ISBN: 13-978-0-324-78749-8

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

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Course Description:
FI425 Principles of Real Estate: A study of real property, its legal title, transfer,ownership, finance, and management. Prerequisite: FI360 or permission of the instructor.3:0:3

Educational Philosophy:
To provide a clear and concise understanding of real estate principles as it pertains to fee simple ownership, transfer of deed & title, sales agency, parcel identification, commercial & residential zoning and real property appraisal.  

Learning Outcomes:
  Core Learning Outcomes

  1. Describe what is entailed in property rights.
  2. Explain a legal description.
  3. List the legal requirements of deeds and leases.
  4. Explain a real estate contract.
  5. Explain a real estate appraisal.
  6. Describe the contents or a mortgage or deed of trust.
  7. Define property insurance requirements.

Core Assessment:


Chapter Review Questions            80 points
Group Presentation                      200 points
Current Events                             180 points
Individual Case Study                  140 points
Mid-Term Exam                          200 points
Final Exam                                  200 points

                             Total =         1,000 points 
1000 to 900 pts = A
899 to 800 pts = B
799 to 700 pts = C
699 to 600 pts = D
599 or below = Failing

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business.

Late Submission of Course Materials:
Late assignments will be accepted. However, points could be penalized up to 50% of overall grade.

Course Topic/Dates/Assignments:


Summer 2012

Course Schedule


WEEK 1/June 6 

            Discuss:            Chapter 1        Introduction to Real Estate

                                    Chapter 2         Nature and Description of Real Estate

 (Pick teams for Group Presentations)

WEEK 2/June 13:

            Discuss:            Chapter 5         Transferring Title

                                    Chapter 6         Recordation, Abstracts, and Title Insurance

                                    Chapter 7         Contract Law

                                    Chapter 8         Real Estate Sales Contracts

                                                                                                                   (GUEST SPEAKER) 

WEEK 3/June 20:

            Discuss:            Chapter 9         Mortgage and Note

                                    Chapter 10       Deed of Trust

                                    Chapter 11       Lending Practices

                                    Chapter 12       The Loan and the Consumer

(Review for Mid-term Exam, first 12 Chapters)

WEEK 4/June 27:

            Discuss:            Chapter 13       Sources of Financing

                                    Chapter 14       Types of Financing

(Mid-term Exam)

WEEK 5/July 4:

            Discuss:            Chapter 15      Taxes & Assessment

                                    Chapter 16      Title Closing & Escrow

                                    Chapter 17      Real Estate Leases

                                    Chapter 18      Real Estate Appraisal


WEEK 6/July 11:

            Discuss            Chapter 19      Licensing Laws and Professional Affiliation

                                    Chapter 20     The Principal-Broker Relationship: Employment

                                    Chapter 21     The Principal-Broker Relationship: Agency

                                    Chapter 22     Fair Housing

                                                                                                                                         (Group Presentations)


WEEK 7/July 18:

            Discuss:            Chapter 23     Condominiums, PUD's and Timeshares

                                    Chapter 24     Organizational Change/Stress Mgmt.

                                    Chapter 25     Land Use Control

                                    Chapter 26     Real Estate & the Economy

                                    Chapter 27     Investing in Real Estate

(Review for Final Exam Chapters 13 through 27)

WEEK 8/July 25:         Final Exam

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty ( or Park University 2011-2012 Undergraduate Catalog Page 93

Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. from Park University 2011-2012 Undergraduate Catalog Page 93

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2011-2012 Undergraduate Catalog Page 96

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: .

Additional Information:

As a team you are to complete a Real Estate Ethics Paper. You are to find a real estate ethics article and make a presentation to the class on your findings. The paper and presentation could be relevant to sales agency, lending practices, licensing and real property appraisal. It can be presented in the form of a skit and/or power point presentation. Following the theoretical approaches as detailed in the text, use the following criteria to develop your analysis.

  1. Visit many websites and/or newspapers to find your ethics topic.

  3. The paper should be 4 to 5 pages in length (preferably APA format).

  5. Cite your sources

  7. Be sure to emphasize all ethics violations/poor lending practices in both your paper and presentations.

  9. State very clearly the ramifications stemming from ethics violations.

Each team will have 20-25 minutes to brief the class on your respective topic. You must incorporate the principles and techniques learned to date. The reconciled grade for the Group Project will come from two sources: written team paper and group presentation. Each source is described below.

  • Written Report (100 points). The written report must contain all of the above components. It must be well organized, grammatically correct, and be of the quality one would expect in a college level program.




  • Team Presentation (100 points). You are to present your findings to the class which must have the following worth (20) points each:

Purpose/Objectives – The purpose and objectives of this presentation were clearly explained and understandable.

Organization – There was evidence of planning. Materials and strategies were well organized.

Knowledge- Subject/product knowledge was highly evident. Enthusiasm in presenting material. 

Involvement – The audience got involved; presenters encouraged involvement

Visual Aid – Appropriate visual aid(s) to enhance audience understanding


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Last Updated:4/30/2012 8:48:30 AM