Glossary of Supply Chain Terms

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Program coordinators are not limited to the above. They must submit an outline and learning objectives for the two hours.

All agents, mortgage brokers, property managers, etc. Also attorneys who sponsor agents and auctioneers. Licensed real estate brokers - corporate officers, owners, partners, etc. Business names and trade names E. Interstate Commerce United States vs.

Schedules of fixed or mandatory real estate commission or fees established by real estate boards violate the Sherman Anti-Trust Act. The nature of the Independent Contractor Relationship B. Substance over form - written documentation will not overcome Broker's direction and control of salesperson. Department of State Regulation Who is the agent Client or customer Fiduciary Responsibilities The role of a salesperson.

Agent Subagent Dual agent seller agent buyer agent brokers agent. Open listing Exclusive right to sell Exclusive agency Exclusive right to rent Release from agreements. Section of the Real Property Law Regulation When is the first substantive meeting? Have you made your role clear? Refusal to sign Changing rolls. The mortgage is the basis of all real estate financing in New York State B.

A discussion of the mortgage origin, requirements, and types C. The one family home mortgage D. Purchase money mortgage B. The gap mortgage C. The wraparound mortgage D. Convertible mortgage - converting mortgage to equity F. The home equity loan as a second mortgage or as a first mortgage. The hardest loan to underwrite B. The structured payback and inspection to guarantee a good product C.

Release land sub-division financing. A discussion of the lease as a form of financing property B. Desire to retain land C. Leases major obligations of corporation D. The subordinate lease E.

The long-term lease as a way of controlling property without buying it. Mortgage money for a one family home in a capital short mortgage C. How to secure FHA financing. Non-income verification loans B. LTV loan to value C. Programs for first-time home buyers I.

Time it takes to process loans and how it affects buyers and sellers. Background of industry B. Fundamentals of investments C. Knowledge of operating statements B. Current rent roll C. Holdings period planning C. Property disposition and timing planning D. Land acquisition and banking B. Office - urban or suburban D. Apartment - rentals E. Mix - developments F. Rate of return E.

Portfolio development and securitization F. Pre-tax cash flow B. After tax cash flow C. Cash flow shelter D. Certificates of Deposit E.

Court of Appeals Judicial Circuits. Law of Agency B. Real Property Law C. Law of Contracts G. Personal Property Law J. Torts - Civil Law M. Secured Creditor and Unsecured F. Claims not Discharged G. How do each affect real estate transactions and pre-contract building and environmental inspections?

Transfer of development rights G. Eminent domain and regulatory taking H. Why investigations by real estate brokers prior to listing of properties are important.

Structuring the acquisition and financing. Requirements of filing an offering plan with the attorney general B. Purchasing a condominium D. The elements of a condominium E. The cooperative lease F. Financing the purchase of a cooperative G.

Awareness of liabilities, building debt, taxes and maintenance charges on the cooperative building. What is title and what does it encompass? Partition - definition, result affecting title to property, who can start such an action. Adverse possession - definition, common law justification, requirements and procedure. If no will - by way of the Laws of Intestacy C. Laws of intestacy B. How these Laws differ from a Will C. How does it happen? The procedures of an administration. Significance of the closing: Functions of those who will attend a closing, the importance of recording acts and what will be done at the closing.

Consummation of a real estate transaction B. The seller is paid the balance of the purchase price C. Existing liens against the real property are satisfied D.

The purchaser normally will pay the balance of the purchase price through a combination of funds obtained through an acquisition mortgage and the purchaser's own funds. Where closing are held? A broker or salesperson's role prior to closing involves inspection of the property with the purchaser H. Payment of the commission I. What is property management? What are the functions of a property manager? What types of property are managed?

When is a license required? The management agreement creates an agency B. Property manager becomes a general agent and as such owes loyalty to the owner C. The management agreement is a contract and should be in writing, as well as signed and contain some or all of the following:.

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