EL CAMINO COLLEGE COURSE OUTLINE: RE 26
I. COURSE DESCRIPTION:
Course Title and Number: Real Estate 26 (RE26)
Descriptive Title: Principles of Escrow
Discipline: Real Estate
Hours Lecture: 3
Course Units: 3
Grading Method: Letter
Associate Degree Credit
Transfer CSU - Effective Date: prior 7/92.
Recommended Preparation: Real Estate Principles (RE11) OR concurrent enrollment.
Catalog Description:
This course introduces the student to the functions and types of escrows. The student is introduced to the procedures used in the escrow industry. The student will develop proficiency in common terms of escrow business terminology and the basic escrow steps in a real estate transaction.
NOTE: This course is approved by the California Department of Real Estate (DRE) for credit towards the required coursework for the California real estate broker examination. This course is approved for one of the two courses required for DRE salesperson license in addition to Real Estate Principles (RE11).
II. COURSE OBJECTIVES AND METHODS OF EVALUATION
A. Course Objectives:
1. The student will complete a project to demonstrate the ability to create an escrow from data given by a real estate agent..
2. Each student will demonstrate the principles of escrow procedures.
B. Methods of Evaluation:
1. Substantial writing assignments, including: written homework and term or other papers.
2. Objective examinations, including multiple choice and true/false.
III. OUTLINE OF SUBJECT MATTERWhat is an Escrow?
Escrow - The limited agent
Vesting and Title
Escrow liability
Taking the escrow order
Legal aspects of an escrow
CC&R's and escrows involving a homeowner association
Easements and right-of-ways
Working with the real estate licensee
Working with the lender
Working with the title company
Closing the escrow
Prorations: Escrow mathematics
Escrow and the real estate agent
Specialized types of escrows
Project presentation on special escrow topics
IV. READING AND WRITING ASSIGNMENTS
Three hours of work per week, including class time, are required for each unit of credit.
A. A representative example of an assignment.
The student will demonstrate how to calculate prorations to close an escrow .
B. Two hours of work outside of class are required for each hour of lecture or equivalent.
Each student will be required to perform the following outside of regular class time:
1. Study.
2. Answer questions.
3. Required reading.
4. Written work.
5. Internet search.
V. COLLEGE LEVEL CRITICAL THINKING ASSIGNMENTS
1. The student will demonstrate the ability outline a basic set of escrow instructions.
2. The student will demonstrate the ability to list the documents involved in working with a lender to close an escrow.
VI. PLANNED INSTRUCTIONAL ACTIVITIES
This course is taught with handouts, note taking, writing, library and/or Internet search, and discussion between students and instructor.
VII. APPROPRIATE TEXT AND MATERIALS
Required:
Escrow Principles, newest edition.
Other Required Materials:
Real Estate Project, Grogan, newest edition, El Camino Bookstore.
Computer search for escrow related data, etc. (such as Internet, government agency, escrow association or similar).
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