Episode 084 - Real Estate Exam Questions 38

Episode 099 - Real Estate Exam Questions: Leasing

Going through state exam questions to help real estate students pass their state exam.

01:35 – February: I feel your pain. A lot of new and intense information. Law school is just as much “fun”.

05:07 – List of recent grads: Andrew, Grace, Jacob, Tylea, Kayla, Erica, Denzel, Kyle, Anu, Sharika, Brandy, Jesika, Matias, Omayra, Kemberly, Denise, Wallace, Ingrid, Ryan, Jonathan, Kendall, Orchid, Len, Gail, Ashley, Joseph, Monica, Kay, Latoya, Cierra, Britney, Kiana, Stephanie, Asia, Thomas, Shelley, Krystyn, Madeleine, Kynia, Andrew, Kellie, and Sam.

06:55 – Messages from Jonathan and Ryan.

09:45 – Episode Focus: leasing; pay attention to the legal pieces and “forget” what you know about the real world of rental situations.

12:20 – Parties to the lease: lessor (landlord) and lessee (tenant). Bundle of legal rights and what rights do each party have? Leased fee vs. Leasehold. Reversionary rights. Statute of frauds – lease for less than 12 months.

20:00 – Types of leasehold estates: Estate for years, Estate from period to period (Periodic tenancy), and estate at will. Estate at sufferance, holdover tenant at sufferance.

34:10 – Leasing consideration: possession of premises (quiet enjoyment); use of premises; security deposit (possession vs. ownership); Assignment versus Sublease; Nondisturbance clause.

44:00 – Types of leases: gross, net, and percentage leases; variable leases (graduated lease and index lease); ground lease.

51:10 – Breach in a lease: if tenant breaches, landlord remedy is to evict tenant; if landlord breaches, tenant remedy is constructive eviction.

52:25 – Leasing of real estate law exam questions.

1:04:10 – Calculation rental price per square foot: $18/square foot for 2,400 square feet of space: $18 x 2,400 =- $43,200 / 12 = $3,600.

1:07:50 – March’s episode will be about Closing a real estate transaction (also known as close of escrow). I will get into the mechanics of a closing, the federal oversight including RESPA, TRID, and Truth in lending, and finish with an in-depth explanation of proration including debits, credits, accrued and prepaid items, and the math behind the glory of proration.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

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Episode 098 - Real Estate Exam Questions: Agency

Going through state exam questions to help real estate students pass their state exam.

01:00 – January: Happy New Year! Think outside the box and try to understand other perspectives.

03:55 – List of recent grads: Jessica, April, Janeva, Martina, Elishia, Naomi, Christina, Mathew, Marie, Sophia, Loren, Brandi, Eric, Dominique, Jordan, Mark, David, Isamar, Kyle, Raven, Whitney, Mandy, Albert, Maggie, Janice, Alisia, Anissa, Claudia, Phillip, Elmer, Layton, Maxwell, Dillon, Alayna, Angela, Prabjeet, and Cullen.

05:20 – Message from Jessica.

07:15 – Episode Focus: agency

08:00 – The parties involved in agency: agent, principal (client), and customer.

13:00 – Creating agency: express agency and implied agency; compensation does not affect agency.

19:05 – Fiduciary responsibilities: COLD AC or OLD CAR; care (reasonable care), obedience, loyalty, disclosure, accounting, and confidentiality.

31:10 – Single agency versus dual agency (limited agency); requires informed consent.

35:10 – Designated agency, in house transaction.

37:40 – Customer – don’t help but don’t hurt. Do not provide service or assist them. Be cautious with unintended actions or words.

39:10 – Puffing, fraud, and negligent representation.

44:25 – Contract law exam questions.

1:09:30 – February’s episode will be about leasing of real estate: types of leases, rights of landlord and tenant, eviction, and more.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

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Bonus Episode – December 2023

Thoughts from a law school student about the real estate licensing exam.

00:00 – I missed my 100^th episode. Thank you!!! Welcome to the 101^st show.

04:35 – For Indiana classes go to www.indianarealestateinstitute.com

06:05 – Just finished my last final exam for the first semester of law school. A few thoughts. Remember why you are doing this. For me, it is my family and kids.

09:40 – What is your attitude? Do not let up on the gas. Keep your head in the game. Do not stop, quit, or slow down! You Got This!!

10:50 – Growth mindset: you might fail. So what!? A test does not define you. Stay positive. The test is a gate, but not an indicator of your intelligence. The test does not define you. Don’t let it beat you down.

13:00 – I’m not telling you this is easy. I am telling you it is worth it!

13:30 – List of recent grads: Sheila, Tylea, Kylie, Kayla, Clay, Randall, Ashley K., Ashley B., Ashley D., Joe, Abby, Brody, Cristian, Kamaljit, Taylor, Shawna, Mary, Adam, Amber, Kimberly, Zach, Ashia, Elijah, Cameron, Jamie, Kyle, Doug, Brock, Jeanne, Garrett, Taytem, Jacob, Tiffany, Kendra, Desmond, Crystal, Connor, Matt, Carl, Tara, Brenda, Kevin, Kayla, Rhett, Rene, Shannon, Hanna, Joan, Jonathan, Samantha, April, Keeley, Sharon, and Nikki.

15:00 – Messages from Steven and Dana.

19:30 – Episode Focus: topics I learned from law school about real estate.

21:10 – Adverse possession; tacking and tolling.

31:20 – Co-ownership: rights of co-owners, and actions such as partition, waste, and cost allocation.

51:40 – Estates: Fee simple, fee simple absolute, fee simple defeasible – determinable, subject to condition subsequent, and subject to executory limitation.

59:40 – Life estate, life estate pur autre vie; what can a life estate holder do? Reversionary interest versus remainder interest.

1:06:30 – Leasing of property: lease, covenant of quiet enjoyment, implied warranty of habitability, and constructive eviction. Assignment and sublease

1:14:55 – Statute of frauds; enforceable versus unenforceable.

1:17:35 – Deeds: recording, actual notice, constructive notice, and recording acts.

1:26:3 – More to come in future episodes: zoning, contracts, easements, eminent domain, private covenants and servitude, and regulatory takings.

1:27:20 – January’s episode will be about agent and fiduciary responsibilities.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

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Episode 097 - Real Estate Exam Questions: Contract Law

Going through state exam questions to help real estate students pass their state exam.

01:10 – December: Happy Holidays!

03:00 – List of recent grads: Christina, Lori, Delphine, Alisha, Patrick, Adelaide, Chefor, Grant, Heather, Anne, Carl, Arianna, Jessica, Shukeh, Amber, Autrey, Joana, Kongyu, Miles, Leticia, Larry, Maddy, Kim, Tony, Dawn, Mason, Miranda, Eleyna, Bill, Rose, Renee, Carol, Johnathon, Nathalie, Morgan, Alylynn, and Katrina.

04:10 – Message from Christina.

07:05 – Episode Focus: contract law

08:15 – Elements of a valid contract: Voluntary, Promise/s, Legal, Competency (Capacity), and Consideration.

14:00 – Express versus Implied contracts; statute of frauds.

20:00 – Bilateral and unilateral contracts.

23:35 – Creation of a contract; mutual assent (meeting of the minds); offer and acceptance; offeror and offeree; accept, reject, and counter; counteroffer is a rejection of prior offer terms; offeror can rescind (rescission) before their offer is accepted.

33:40 – Valid, void, and voidable contract; enforceable and unenforceable.

40:45 – Breach of contract; suit for specific performance.

42:30 – Termination of a contract – Performance and mutual release

45:50 – Contingencies: mortgage, inspection, title, sale of home, find another home, and more.

46:45 – No earnest money is required for a valid contract; equitable title; amendment and addendum.

53:10 – Contract law exam questions.

1:15:00 – January’s episode will be about agency: creating agency, fiduciary responsibilities, dual agency, and other obligations agents have with their clients.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

A-Ha LINKS

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info@ahareep.com

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Episode 096 - Real Estate Exam Questions: Listing Contracts

Going through state exam questions to help real estate students pass their state exam.

01:55 – November: My favorite holiday is Thanksgiving because of the food. Giving thanks to my family, friends, and all the listeners for your loyalty and support.

04:10 – List of recent grads: Sandra, Laura, Bess, Shannon, Bella, Sonita, Paige, Megan, Chasity, Matt, Amy, Saul, Jacob, Stuart, Ronda, Zach, Timothy, Avo, Kali, Jessica, John, Jeff, Kelly, Leslie, Kay, Marissa, Andrea, Sarah, Stephanie, Keesha, Madison, Tiffany, Emilie, Tatyana, Tarri, Renea, Natalia, and Mindy.

05:30 – Message from Sandra.

07:30 – Episode Focus: Listing contracts

08:10 – Three types of listing contracts (listing agreements) are exclusive right to sell, exclusive agency, and open listing.

14:50 – Net listing

18:55 – All listings are required to have an expiration date. Listings can be extended or renewed.

20:30 – Listing contracts are between the broker and the seller, not the agent.

22:40 – Net to seller math: put your focus on the seller’s perspective.

24:10 – Put all the costs on one side of the equation.

25:00 – Sales price x (100% - Total Commission Rate) – Closing and other costs to seller = Net to seller

29:00 – If a seller needs to net $50,000 after the sale, how much must the real estate sell for if the selling costs include a 7% commission and $1,200 in other expenses? Answer: $50,000 + $1,200 = $51,200 / 0.93 = $55,054

31:00 – Test questions about listing contracts, listing agreements, and net to seller calculations. Don’t forget to work your math questions backwards by using the answers to work the question.

49:55 – December’s episode will be about contracts including contract formation, offer, counteroffer, acceptance, valid, void, and voidable, and more.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.

Go to www.indianarealestateinstitute.com for Indiana real estate classes.

A-Ha LINKS

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info@ahareep.com

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Episode 095.5 – Real Estate Exam Cram

Going through state exam questions to help real estate students pass their state exam.

 01:00 – Another surprise episode!! Exam cram.

01:30 – More than 250,000 downloads overall, 27,000 downloads per month. Top 5% of all podcasts.

02:40 – Update on my law school mid-terms. Walking the walk

05:20 – List of recent grads: John, Taylor, Sherry, Trudy, Jennifer, Bai, Khan, Madi, Jenn, Megan, Mags, Michelle, Steven, Chris, John, Shauna, Cindy, Dena, Deb, Baxter, Frank, Kim, John, Katlynn, Leo, Eleyna, Melissa, Kevin, John, Felicia, Stephanie, Gerald, Sarah, Linden, Angela, Kendall, Kayla, Maggie, Christina, and Maverick.

07:50 – Messages from Sherry (Mississippi), Jennifer (Alabama), and Taylor.

11:25 – Feedback response: make an episode about cramming for the exam. Look for our videos about topics at www.ahareep.com.

14:45 – Real estate exam topics: Property rights, DEEP C, fee simple absolute and defeasible, life estate, real property and personal property, legal tests of a fixture, encumbrance, lien, special assessment, easements, public and private land use control, ownership types (severalty, tenant in common, joint tenancy with right of survivorship, and tenancy by the entirety), transfers of title, deed types (general warranty, special warranty, and quit claim), actual and constructive notice, relationship of broker and agent, calculate real estate commissions, anti-trust (price fixing, group boycott, and allocation of customers or markets), listing agreement types (exclusive right to sell, exclusive agency, and open listing), net to seller, express and implied contracts, bilateral and unilateral contracts, valid, void, and voidable, statute of limitations, enforceable, agency, client and customer, fiduciary responsibilities, compensation, legal descriptions, lease types (estate for years, periodic tenancy, estate at will, and holdover tenancy (estate at sufferance)), gross, net, percentage and variable leases, proration, RESPA, kickbacks and referrals, Fair Housing, protected classes, ECOA, blockbusting, steering, advertising and redlining, mortgage types (conventional, FHA, VA, blanket, package and wraparound loans, balloon, and reverse), mortgage factor chart, Truth in Lending, 3 day right of recission, value (DUST and STUD), sales comparison, cost approach and income approach appraisal, environmental (brownfields, CERCLA and SARA, and environmental inspections.)

1:13:15 – Look for videos and past episodes for more information. Make an outline and create a study guide.

1:14:45 – November’s episode will be about listings and listing contracts.

Go to www.indianarealestateinstitute.com for real estate classes.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 or legendary15 to save 15% off.

 A-Ha LINKS

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Episode 095 - Real Estate Exam Questions: Brokerage & Commissions

Going through state exam questions to help real estate students pass their state exam.

01:35 – October: is the exam spooky for you?

02:45 – Prepare for the exam: do what you do every day. Don’t change your routine.

05:48 – What are “good funds”?

11:45 – List of recent grads: Rajesh, Julia, Max, Ibrahim, Tabitha, Brenna, John, Caitlyn, Dawn, Lesley, Ashley, Stephanie, Melissa, Eleyna, Lisa, Christa, Scott, Shahadat, John, Destiny, Jessalyn, Jen, Jessiah, Jennica, Hubert, Kate, Eric, Jade, Yaritza, Taj, Jon, Myron, Paisley, Zeeshan, Yvonne, Shannon, Olivia, Cateline, and William.

13:00 – Message from Ashley.

14:30 – Episode Focus: Brokerage and calculating commission; Broker versus sales associate or agent

17:40 – Broker responsibilities; compensation to agent/associate; contracts are with the broker and client, not the agent; income taxes are paid by agent, not the broker.

25:05 – Antitrust laws: price fixing, group boycotting, and allocation of customers or markets

31:40 – Commission concepts: procuring cause; understand the difference between earning a commission and being paid a commission.

36:30 – Commission math: listing side (seller’s side) versus selling side (buyer’s side); Sale Price x Total Commission Rate = Total Commission Paid; Email us for the commission tree.

41:20 – Test questions about brokerage operations and calculating real estate commissions; for math questions, do forget to plug in the answers and work the questions backward.

1:09:00 – November’s episode will be about listing contracts including contract types, net to seller and more.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.

A-Ha LINKS

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Episode 094.5 – September 2023 Bonus Episode

Going through state exam questions to help real estate students pass their state exam.

01:00 – Surprise episode!!

02:36 – Thank you for all love!! Even though I may blather on!

05:15 – Problem with the discount code: legend15 or legendary15

06:45 – List of recent grads: Chance, Krystal, Grace, Sandra, Ray, Amanda, Kevin, Jessica, Eleina, Lindsey, Jeff, Jonathan, Kyndrah, Savanna, Cammie, Jewell, Deb, Michelle, Jenna, Alex, Paulina, Kendell, Wilson, William, Jay, Jennifer, Jessica, Evan, Jenny, Cody, Baxter, Taylor, Makayla, Shellie, Gerald, Stephanie, Diane, Andrew, and Sam.

07:50 – Messages from Ray (Utah), Amanda (Nebraska), and Elaina.

13:30 – Law school musings about contracts (offer, acceptance, and consideration); property (life estates); torts (negligence); and civil procedure.

28:30 – How I am studying for law school, and how it might help you to prepare for your state exam and real estate classes. Read before class, handwrite class notes, create a study outline, study groups, stick with a schedule, and make changes.

44:45 – Happy birthday, Lexi! Becoming a teenager!

45:10 – Taking a mid-term exam and will release a new episode to walk through how I did.

46:45 – October’s episode will be about brokerage and commissions.

Go to www.indianarealestateinstitute.com for real estate classes.

Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 or legendary15 to save 15% off.

A-Ha LINKS

Email

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Episode 094 - Real Estate Exam Questions: Recording & Title Records

Going through state exam questions to help real estate students pass their state exam.

01:15 – Clarify previous statement: study math but don’t get obsessed with studying math

07:00 – Does the test get harder every time you take it?

09:45 – List of recent grads: Adah, Sara, Krist, Amber, Marie, Scott, Tony, Melissa, Johnathan, Kandis, Priscilla, Taryn, Nika, Darian, Michelle, Kaylee, Bella, Star, Scott, Rica, Zach, Tiffany, Shea, Layla, Brielle, Amy, Nate, Addysen, Haley, Stuart, Jacob, Thomas, Joseph, Sinclair, Mariana, Tina, Jessalyn, Sandra, and Iris.

11:00 – No emails this month. Please send me some messages.

12:45 – Episode Focus: Recording and Title Records

13:25 – Recording

16:30 – Notice: constructive notice and actual notice.

20:50 – Priority in recording documents.

23:15 – Chain of title; abstract of title; and marketable title.

27:30 – Title insurance covers past events, not future issues.

30:50 – Test questions about forms of ownership

52:25 – October’s episode will be about brokerage including the relationship between a sales associate and their broker, and more.

Go to www.ahareep.com , sign up for the program for only $35, use discount code: legend15 to save 15% off.

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Episode 093 - Real Estate Exam Questions: Deeds & Transfer of Title

Going through state exam questions to help real estate students pass their state exam.

01:50 – Acronym study guide to help memorize terms needed to pass the exam.

03:40 – Be careful of Quizlet and the questions that are on the site.

06:20 – “Free” stuff to help you pass the exam.

10:00 – List of recent grads: Samual, Laurie, Kelly, Whitney, Evan, Cole, Dhawan, Kathy, Kaylee, Anji, Bik, Heidi, Lori, Christina, Julia, Julie, Autumn, Watson, Shakur, Jacy, Miranda, Jannette, Irene, Amanda, Belinda, Brooke, Stephen, Destiny, Stacey, Ali, Lauren, Luna, Amber, KC, and Charles.

11:10 – Message from Samual: Keep your confidence.

12:55 – Episode Focus: Deeds and transfer of title

14:15 – Deed, grantor, and grantee

16:30 – Grantor must sign the deed; grantee does not sign the deed; acknowledgement of the deed by a notary public.

18:30 – Title transfers when the deed is delivered and accepted, not when it is recorded.

21:20 – Deed types: general warranty deed (includes the covenants of seisin, against encumbrances, further assurance, quite enjoyment, and warranty forever); special warranty deed (two covenants: seisin and encumbrances with a limitation); quit claim deed (no warranties); cloud on title.

32:00 – Involuntary alienation: operation of law, natural disasters, and adverse possession.

35:55 – Test questions about forms of ownership

48:30 – September’s episode will be about recording and title records including constructive and actual notice, chain of title, and more.

Go to www.ahareep.com , sign up for the program for only $35, use discount code: legend15 to save 15% off.

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