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R.E. Masters Course Descriptions
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Course 201: Probate and the Foreclosure Process
Course Goals
This course is designed to enable students to:
  • Have a general working knowledge of the procedures involved in real property sales that are either subject to the California Probate Code (CPC) or are lender owned (REO).
  • Understand the duties and liabilities when working with court and lender owned properties.
Learning Objectives
Upon completion of the course, the student will be able to:
  • Recognize the difference between a market sale of real property and one that involves probate or lender owned properties resulting from a foreclosure.
  • Understand the procedures of a probate sale.
  • Differentiate between a judicial and non-judicial foreclosure.
  • Recognize the rights of a personal representative selling real property under the
  • Independent Administration of Estates Act.
  • Understand the bid process at a probate sale of foreclosure.
  • Identify the steps in the foreclosure process.
  • Understand the lender’s obligation to mitigate loss to the consumer and the effects of a short pay.
  • Determine the appropriate real estate standard forms to use in a transaction when handling a probate or lender owned property.
  • Know the marketing responsibilities expected when handling a probate or lender owned property.
  • List the advantages and disadvantages of working with probate sales and foreclosures.

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