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Unformatted text preview: obtain financing. Even people who have sufficient funds rarely pay cash for real estate because (as noted in a later chapter) income tax deductions and investment yields favor purchasing real estate with borrowed funds, called “leverage”. Thus, whether by necessity or by choice, financing is essential for most real estate transactions. Real Estate Finance is an introduction to the many interesting aspects of the real estate business. This book has been written primarily for the prospective real estate broker or sales–person, but it will also be of interest to the people who wants to become a real estate professional. HOW TO USE THIS BOOK
Read the text of each chapter. At the end of each chapter there are chapter quiz that will require you to use what you have learned to solve problems involving practical applications of the topics covered. After you complete a test, you can check the answer key provided. It is difficult to overestimate the growing importance of the Internet to the real estate industry. The resources available there have brought together the interests of agents, consumers and investors. Throughout this book you will find addresses on the World Wide Web, a collection of computer sites referred to in this book as the web. The web has made the Internet easily accessible to anyone with a computer and modem or, in some cases, a television set coupled with a phone line and wireless keyboard. There are web sites sponsored by government agencies, sites run by private trade groups and others that are commercial enterprises yet offer a great deal of free information that is both interesting and useful. We encourage you to explore the sites mentioned in this book to expand on what you read here. To make it easy to find site references, they are highlighted in the margins of the text. There is also a complete list of all site references in the Internet Appendix at the back of the book. As with any resource, you are cautioned to use good judgment when considering the validity of the information...
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- Spring '10