Florida Real Estate Licensing
This is the minimum number of hours required for pre-licensing education for a Florida real estate sales associate.
63 hours
This type of ownership allows two or more individuals to hold an undivided interest in a property, with the right of survivorship.
Joint tenancy
Florida law mandates that brokers keep transaction records for this many years.
5 years
This is the federal program designed to help low- to moderate-income buyers purchase homes with a smaller down payment.
FHA Loan
In Florida, a landlord has this many days to return a tenant’s security deposit after the tenant moves out, if there are no damages.
15 days
In Florida, a real estate license can be placed on this status if the licensee fails to renew their license by the expiration date.
Inactive status
In Florida, this is the maximum number of days a seller has to provide a buyer with the property’s Seller's Disclosureafter an offer is made.
3 days
This type of account is required to hold funds received by a broker, such as earnest money, security deposits, or rent payments.
Escrow account
In Florida, if a lender forecloses on a mortgage, they may seek a deficiency judgment for the amount the sale of the property does not cover. This is a form of this.
Deficiency judgment
This is the term for discrimination in housing based on a person’s disability
Disability discrimination
To qualify for the Florida real estate sales associate license exam, applicants must be this minimum age.
18 years old
In Florida, the Homestead Exemption can reduce the taxable value of a home by this maximum amount for residents.
$50,000
Under Florida law, a broker must deposit any funds received into an escrow account within this many days of receiving them
1 business day
This is the term used for the difference between the appraised value of a property and the purchase price when the buyer is purchasing a home with a loan.
Appraisal gap
This is the term for the upfront amount a tenant must pay to secure a lease, which is refundable upon the return of the property in good condition.
Security deposit
This is the total number of hours required for a Florida real estate broker’s post-licensing education.
60 hours
The Florida Real Estate Commission (FREC) has the authority to issue fines for this type of violation.
Administrative fines
This legal term refers to the act of charging more than the legal amount for real estate services in Florida.
Price-fixing
This is the type of loan used to finance properties with very little or no down payment, often designed for first-time homebuyers.
VA Loan
This practice is illegal and refers to denying access to housing or loans based on the racial or ethnic makeup of a neighborhood.
Redlining
This term refers to the process by which a licensee may work under the supervision of a broker for a specified time period before being eligible to become a broker themselves.
Post-licensing experience
This law requires a written agreement when transferring any interest in real estate, including a contract of sale or lease agreement.
Statute of Frauds
This term refers to a broker’s fiduciary duty to disclose any material facts that could affect a real estate transaction.
Full disclosure
This is the maximum allowable down payment for a FHA loan for a home purchase.
3.5%
This term refers to the process of managing a rental property, including tasks such as collecting rent, managing repairs, and dealing with tenant complaints.
Property management