Post-Licensing Education for Florida Real Estate Sales Associates, Eighth Edition

Post-Licensing Education for Florida Real Estate Sales Associates, Eighth Edition

Errata (2012-10-04)

At Dearborn™ Real Estate Education, we are proud of our reputation for providing the most complete, current, and accurate information in all our products. We are committed to ensuring the kind of quality you rely on. Please note the following changes, which will be reflected in the next printing of Post-Licensing Education for Florida Real Estate Sales Associates, Eighth Edition.

Page/Location

Was

Change to

19, line 10 / of 15 percent (5 percent for persons in the 10 percent ordinary income tax rate). / of 15 percent.
38, Exercise 2.1, sixth choice in right column / A landlord requires that Mary, a divorced mother of three children, pay for a credit report and have her father cosign her lease. A male friend had lower income than she did, and poor credit was not required was not required to do either of those things. / A lender requires that Jose, a Hispanic person, pay a higher rate of interest on a loan than is charged to other applicants who have similar jobs and credit scores.
48, question 16 / a. Parking areas should have on accessible space for every 40 total spaces. / a. Parking areas should have one accessible space for every 40 total spaces.
59, paragraph in “In Practice” box / So if you need to make $50,000 annually, you’ll have to set your goal at about $77,000! / So if you need to net $50,000 annually, you’ll have to set your goal at about $77,000! To calculate: 100% – 35% = 65%. $50,000 ÷ .65 = $76,923.
95, question 7 / Finding new FSBOs in the classifieds is easier if the prospect cards are arranged by / Finding new FSBOs in the classifieds is easier if the information is sorted by
196, line 5 / unimproved realproperty. / unimproved real property zoned orintended for residential development.
218, Practice Exercise 10.1 / Using the blank form in Figure 10.1, / Using the blank form in Figure 10.2,
223, second “In Practice” box, first bullet / the selling associate brings / the buyer’s associate brings
236, line 20 / The different in payments of $30.13 for the remaining 291 months would total $8,557, well worth paying the points. / The different in payments of $30.13 for the remaining 283 months would total $8,526.79, well worth paying the points.
237, box at top of page / with a 6.5 Percent Yield / with a 4.5 Percent Yield
241, Table 11.2, third line down / 20 yrs. + 2 mos. / 21 yrs. + 4 mos.
258, line 23 / revokes; / revoked;
286, RESERVES DEPOSITED WITH LENDER / 1001 Hazard insurance 2 mo. @ $?/mo. / 1002 Hazard insurance 2 mo. @ $?/mo.
286, RESERVES DEPOSITED WITH LENDER / 1002 Homeowners’ insurance 2 months @ $?/mo.
($300 per yr. divided / 1003 Mortgage insurance 2 months @ $?/mo.
($545 per yr. divided
287, GOVERNMENT RECORDING AND TRANSFER CHARGES / 1024 Documentary stamp tax on loan / 1204 Documentary stamp tax on loan
288 / TOTAL REDUCTION AMOUNT DUE SELLER (Sum of lines 501–519) / 520 TOTAL REDUCTION AMOUNT DUE SELLER (Sum of lines 501–519)
294, first paragraph, fifth line / is 1462 Lime Drive. / is 1462 Lyme Drive.
298, question 14 / c. No, the amount shown on lines 107 and 407 should be calculated from 1/1/05 through 5/15/05 ($770.96).
d. No, the amount shown on line 107 should be calculated form 1/1/05 through 5/15/05 ($770.96) and be transferred to line 211 and 511. / c. No, the amount shown on lines 107 and 407 should be calculated from 1/1/11 through 5/14/11 ($770.96).
d. No, the amount shown on line 107 should be calculated form 1/1/11 through 5/14/11 ($770.96) and be transferred to line 211 and 511.
306, line 16 / a speculation. / speculation.
315, line 27 / are as varied, / are varied,