pass real estate exam

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.

 

A-Ha LINKS

 

Email

info@ahareep.com

 

Web

www.ahareep.com

 

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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.

 

A-Ha LINKS

 

Email

info@ahareep.com

 

Web

www.ahareep.com

 

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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.

 

A-Ha LINKS

 

Email

info@ahareep.com

 

Web

www.ahareep.com

 

Facebook

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https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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

 

Email

info@ahareep.com

 

Web

www.ahareep.com

 

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https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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

 

Email

info@ahareep.com

 

Web

www.ahareep.com

 

Facebook

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https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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

 Email

info@ahareep.com

 Web

www.ahareep.com

 Facebook

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YouTube

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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

 

Email

info@ahareep.com

 

Web

www.ahareep.com

 

Facebook

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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

info@ahareep.com

 

Web

www.ahareep.com

 

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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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Email

info@ahareep.com

 

Web

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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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Email

info@ahareep.com

 

Web

www.ahareep.com

 

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https://www.facebook.com/AHA.REEP

 

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https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 092 - Real Estate Exam Questions: Forms of Ownership

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

 

01:40 – Give your feedback on our new monthly format.

02:15 – Happy July 4^th, Independence Day!

02:55 – Is it worth buying the PSI or Pearson Vue exam on their site?

07:40 – Is it a good idea to get a tutor?

10:25 – Ask for accommodations on your test if you have a disability.

11:50 – List of recent grads: Emily, Carl, Elena, Danae, Jodi, Christian, Sabrina, Diana, Courtney, Jacqueline, Paul, Kennedy, Jackie, Mariah, Doreen, Bonnie, Janet, Bella, Unisha, Dominika, Steff, Cameron, Brooke, Kelsey, Morgan, Kim, Shara, Randy, Gary, Elaine, Mitchell, Riah, Dana, Martin, Veronica, Jennifer, Mary, and Cassidy.

13:00 – Message from Whitni: Carrying out her legacy.

14:45 – Episode Focus: Forms of Ownership

15:45 – Severalty ownership

16:25 – Tenants in common; Tenancy in common

19:10 – Joint tenancy and right of survivorship

21:10 – Four unities required for joint tenancy: Possession, Interest, Time, and Title (PITT or TTIP)

22:35 – Terminating joint tenancy

23:00 – Tenancy by the entirety

25:10 – Test questions about forms of ownership

50:35 – August’s episode will be about deeds and transfer of ownership, as well as constructive and actual notice.

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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Email

info@ahareep.com

 

Web

www.ahareep.com

 

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Episode 091 - Real Estate Exam Questions: Easements and Other Encumbrances

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

 

01:30 – Stick with it. Do not give up on your dream.

03:10 – What to do when you pass the state exam?

05:15 – List of recent grads: Audrey, Brittney, Brooke, Olivia, Val, Nay, Paul, Dani, Scott, Vanessa, Carol, Kassey, Leigh, Amy, Kendall, Erica, Stephanie, Emily, Erika, Elaine, Hannah, Whitney, April, Sarah, Fatima, Lynn, Keri, Clark, Corey, Cameron, Lori, and Dotty.

06:25 – Message from Lisa: Even “old” people can knock out the exam.

08:10 – Episode Focus: Easements and other encumbrances

08:25 – Encumbrances: liens, restrictions, easements, licenses, and encroachments.

11:50 – Easements; voluntary (appurtenant and gross easements) and involuntary (necessity and prescriptive easements); dominant and servient tenement.

19:55 – How can an easement go away? Surrender by dominant tenement, abandonment, and when one owner owns both parcels.

23:35 – Licenses: temporary; usually short periods of time; can be cancelled by the property owner.

25:50 – Encroachment; an improvement of one owner extends beyond the property line to another property owner’s land.

28:35 – Sample questions about easements and other encumbrances

45:10 – July’s episode will be about forms of ownership: severalty, tenants in common, joint tenancy, and tenancy by the entirety.

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

 

A-Ha LINKS

 

Email

info@ahareep.com

 

Web

www.ahareep.com

 

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https://www.facebook.com/AHA.REEP

 

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https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 090 - Real Estate Exam Questions: Real Estate Law

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

 

01:00 – Be legendary!

02:10 – Welcome to the new “format”: monthly format, more focus and longer episodes.

04:50 – Real estate math will not make you fail the exam unless you let it. Don’t let it get in your head.

09:25 – Verify the information you learn. Not all real estate classes are the same.

11:50 – List of recent grads: Stanley, Abby, Lindsay, Jordon, Amy, Tom, Caroline, Emily, Nicole, Miranda, Lori, Karina, Mariam, Kandis, Kelsey, Hannah, Brenn, Paige, Simone, Kayla, Amber, William, Shannon, Mikinna, Rey, Sarah, Salido, Anthony, Susan, Franklin, Lizbeth, Louis, Missy, Renea, Xavier, Jason, Dominic, Julie, and Lynn.

12:45 – Message from Lindsay: Holy catfish!; own the test.

16:00 – Episode Focus: Real Estate Law

17:10 – Land, Real Estate, and Real Property; Bundle of legal rights – DEEP C (Disposition, Enjoyment, Exclusion, Possession, and Control); Appurtenance

24:45 – Water rights: Riparian and littoral; accretion, erosion, and avulsion.

26:15 – Real property versus personal property; chattel; Annexation and severance.

28:00 – Legal tests of a fixture; MARIA (Method (of annexation), Adaptability, Relationship (of the parties), Intent, and Agreement; Trade fixture.

32:45 – Sample questions about real estate law

54:30 – June’s episode will be about encumbrances such as easements, HOAs, licenses, and encroachments.

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

 

A-Ha LINKS

 

Email

info@ahareep.com

 

Web

www.ahareep.com

 

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https://www.facebook.com/AHA.REEP

 

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Episode 089 - Real Estate Exam Questions 43

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

 

01:25 – Is taking a lot of pre-tests helpful to help pass the state exam? Yes, with the right context.

06:50 – List of recent grads: Phillip, Maryann, Erin, Ty, Kelsey, Makena, Marie, Olivia, Jaclyn, Kelly, Brenda, Rebekah, Cecil, Hayden, Shea, Tom, Zach, Gavin, Leslie, Janet, Bella, Irina, LaShae, Donovan, Eric, Aaron, Vonetta, Terri, Evelyn, and Dolly.

07:45 – Message from Erin; Change your family tree.

09:50 – What is inverse condemnation?

14:00 – Does tenancy at will have to be rent free?

17:30 – Difference between judgements and mechanic’s liens?

20:55 – What is normal wear and tear in a property?

23:15 – What type of lease has a fixed amount and a percentage of property maintenance?

27:45 – Examples of a buyer debit on a closing statement.

31:05 – Exclusive buyer agent owes the buyer what duty? Disclosure of motivation of the seller.

36:35 – What is not required for a sales contract?

39:30 – What can an offeree do when receiving an offer from the offeror?

42:00 – Going forward, future episodes will be once a month and focused on one topic.

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 088 - Real Estate Exam Questions 42

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

 

01:26 – Our website messaging is not clear. Free stuff versus paid stuff.

03:57 – Are test questions different than real estate class questions? Yes. Instructors are not teaching an exam.

7:18 – Do you need to have prior relationships to be a successful real estate agent? No.

10:10 – List of recent grads: Valerie, Terrell, Shayla, Christina, Justin, Ann, Scott, Stephanie, Erin, Quelin, Kathy, Christopher, Eric, Jennifer, Jean, Krist, Diana, Moira, Michaela, Hayden, Sally, Belinda, Alexis, Gavin, Cole, Lori, Leslie, Roxy, Randy, Julie, Abbey, Leticia, Jessica, Taylor, and Shayla.

11:28 – Messages from Terrell & Shayla about what they did to pass the exam.

14:30 – Difference in terms: broker, principal broker, managing, broker, licensee, and associate agent. Listing agent versus selling agent.

19:43 – Difference between accretion and reliction. Accretion is more land is deposited. Reliction is water is less, so it exposes more land.

22:24 – Is it misrepresentation if a photo is digitally altered? Maybe.

24:18 – Listing agent knows of defects such as asbestos on the property. What should they do? Disclose to all potential buyers.

27:36 – What does the lead-based paint addendum require? Does not require removal of lead paint.

30:25 – What Federal act ensures a borrower is knowledgeable of all closing costs? RESPA, Real Estate Settlement Procedures Act.

32:03 – What should a listing agent do when pricing a listing? Complete a CMA, comparable market analysis.

34:07 – Rental rates are best determined by what? Supply and demand.

36:12 – An advantage of PMI (Private Mortgage Insurance)? The buyer can purchase a higher priced home.

39:16 – What is blockbusting and are “hippies” a protected class in Federal Fair Housing rules?

43:15 – Favor, please give us shout outs and spread the word about us on other social media sites.

44:50 – 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 087 - Real Estate Exam Questions 41

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

01:15 – It is Easter week! Easter bunny “B” is hopping in to bring you some “treats” to help you knock out the real estate exam.

02:15 List of recent grads: Francine, Zaniya, Rose, Jeff, Matthew, Kisha, David, Pooja, Marc, Damini, Alex, Daimonya, Daniel, Alma, Victor, Robin, Kelly, Jayden, Heather, Julia, Kandis, Miranda, Leslie, Perla, Nikki, Justin, Brittany, Paul, Tracy, Tricia, Eric, Matt, Sheryl, Brooke, & Lara.

04:08 – Message from Lauren

05:10 – When should you apply for a real estate license?

09:02 – Do you have to memorize the math formulas? Yes. Don’t forget to plug in the answers to check your formula.

12:06 – How to keep the three listing agreement types straight?

15:35 – Does a landlord have to accommodate a tenant with a guide dog even if the landlord has a no tenant policy? Yes.

17:15 – What does the term “land” mean? Surface, subsurface and air rights.

19:40 – How should a broker advise a seller to proceed when the market is in a downward slide? Sell now.

23:53 – What is an advantage of a partial amortized / balloon payment loan?

28:07 – What requirements exists between a licensee and their supervising broker? Taxes are on the contractor/licensee but the licensee must work under the supervising broker.

33:00 – When can a broker release the earnest money?

35:47 – Exclusive right to sell agreement exists. Is a commission required to be paid? Is the seller obligated to accept or counter an offer from a buyer?

39:15 – 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 086 - Real Estate Exam Questions 40

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

 01:20 – Changing careers: is real estate for you?

 05:35 – Do not give out your information to people that offer test questions or having knowledge of the state exam. They don’t and/or they are putting your license in jeopardy.

 07:35 List of recent grads: Caryn, Zach, Jory, Tyce, Jenna, Jaala, Ashley, Amiee, Robyn, Amanda, Katelyn, Sierra, Leslie, Zoe, Lisa, Delanie, Mark, Sabrian, Beau, Rocky, Kiesha, Kimberly, Jess, Shirley, Celia, Mona, Autumn, Andrea, Tricia, Mary, Kristina, Kristi, Sally, Bob, Brent, Elle, Kristin, Sophia, and Amber.

 09:15 – Message from Rocky

 12:20 – Difference between leasehold estate and estate for years.

 16:05 – Struggling with life estates? Stick with a few main principles: life estate holder aka life estate tenant they own the property based upon a life. Life estate is set on the tenant’s life. Pur autre vie is based upon someone other than the tenant holder. Remainderman and reversionary.

 22:10 – Free standing cabinet is a fixture by the MARIA definition of a fixture.

 25:45 – Are sellers required to disclose psychologically affected property such as murder, death, and sex offenders.

 28:34 – What happens to an agent’s license when their broker loses their license? It is suspended.

 30:45 – Is stating proximity to a religious center breaking fair housing? Yes, it is considered discriminatory advertising.

 32:00 – Is an agent required to disclose family interest in a property they are selling? Yes, for immediate family members.

 33:52 – Mortgage factor chart (mortgage payment) calculation: $220,000 loan at 15year 5 1/2 interest or 30 year 6-1/2 interest. What is the difference? 220 x 8.17 (15 year, 5.5% factor) = $1,797.40; 220 x 6.32 (30 year, 6.5% factor) = $1,390.40; Difference: $1,797.40 - $1,390.40 = $407

 38:05 – What are the essential elements of a valid contract? Offer, acceptance, consideration, legality, and capacity.

 40:25 – What is the alienation clause? Due on sale clause. Mortgage must be paid off when the property is sold.

 42:18 – Listing agreement has an extension component? Is this legal and what is required?

 45:03 – What is required of an agent when the customer has questionable financial status? Relay the reservations to the agent’s client.

 48:10 – 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 085 - Real Estate Exam Questions 39

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

 

01:40 – The school you choose is likely the contributing factor to you not passing the exam. That is not on you.

 

04:45 – Join study group on the A-Ha! Facebook page.

 

05:55 – Watch for scammers on our pages.

 

07:30 – List of recent grads: Bill, Jolly, Mary, Lauren, Kelly, Julie, Courtney, John, Michelle, Suzy, Amber, Sandy, Tracey, Kristin, Emanuel, Carmen, Nate, Rebecca, Tricia, Amber, Nick, Ken, Kelsey, Amanda, Daniela, Crystal, Unisha, Cody, Melinda, Tanya, Ericka, David, and Lilly.

 

08:55 – Email from Taryn.

 

10:20 – How important are legal descriptions on the state exam? Metes and bounds, rectangular survey method, and lot and block. Don’t worry about them at all.

 

13:35 – Is a land contract a unilateral or bilateral contract? It is bilateral contract.

 

16:57 – An easy way to remember a dominant and servient tenement in an easement? Dominant dominates another owner’s property. Servient tenement serves the use of another owner.

 

19:13 – Difference of selling agent and listing agent? Listing agent represents a seller. Selling agent represents the buyer.

 

21:55 – Does a small house cost more, less, or the same as a large home on a cost per unit basis? Small house costs more to build on a cost per unit basis.

 

26:28 – What is title theory versus lien theory state? Title theory states the lender takes legal title to the property during the payment period.

 

28:15 – RESPA applies to residential property only. Not personal property or commercial property.

 

30:47 – When does the right of recission kick in with Truth in Lending? When the borrower signs the loan documents.

 

32:57 – How should a broker handle a seller that wants to discriminate based upon race? No exceptions for race per Civil Rights Act of 1866.

 

35:45 – How can a co-owner transfer property in will when they pass away? Become a tenant in common.

 

38:47 – What action returns a party to their original position as if the contract never happened? Rescission, not cancellation, substitution, or subordination.

 

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Episode 084 - Real Estate Exam Questions 38

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

01:00 – March Madness and taking the state exam. Go Hoosiers!!

 04:00 – Share www.indianarealestateinstitute.com for real estate and workshops to help new and existing real estate agents.

 05:08 – Congratulations to the recent test graduates: Kate, Lindsay, Abby, Chase, Lou, Ashley Hannah, Faisal, Matt, Lexi, Gary, Ericka, Candy, Lori, Laura, Loren, Kelsey, Tonya, Randy, Jessica, Stephanie, Orr, Abraham, Shea, Justin, Amanda, Carmen, Kesha, Charlotte, and Tony.

 06:06 – Message from Heather.

10:35 – Alluvium, Accretion, Alluvial, and Avulsion. What is the difference? Shout out to Debbie in Boston. Go Red Sox!

15:45 – What type of contract happens when an intoxicated buyer has an accepted contract with the seller. Voidable.

19:43 – A minor enters into a contract but can complete it when they are no longer a minor. What type of contract is this? Voidable.

22:45 – What happens to the original offer when a counter is rejected? A counter is a rejection of the original offer.

24:40 – Calculating commissions. $800,000 sale with a 3% commission, split 50-50 with a co-broker, and split 40% with the managing broker. What amount does the managing broker earn? 800,000 x 3% = $24,000; Divide that by 2 since he has a co-referral agreement of 50-50. $24,000 / 2 = $12,000; then take the $12,000 x 40% = $4,800.

 29:00 – What may a seller do if buyer 1 wants to negotiate for repairs when they have a buyer 2 as a back up offer?

33:05 – Does death of the offeror or offeree terminate an offer? No

34:50 – What would be the most inappropriate thing for a broker to offer when a buyer asks how to take title?.

 

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Episode 083 - Real Estate Exam Questions 37

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

01:55 – Congratulations to the recent test graduates: Heather, Maxine, Matthew, Tina, Sean, Dan, Lisa, Nikki, Lewis, Myra, Steven, Stephanie, Jahel, Russel, Cindy, Pete, Kristie, Dillon, Kelly, Paige, Kyle, Nun, Sarah, Chris, Cori, Stephanie, Amy, Kate, Kim, Bianca, and Tonya.

 03:15 – Message from Teena.

05:20 – How to find episodes on multiple devices? Go to the website www.ahareep.com and it includes links to the different platforms we use.

06:43 – Things to think about if considering joining a real estate team.

11:30 – Beating a dead horse, do NOT memorize test questions and answers. Several people have used them and are not passing the exam.

15:20 – Jason asks about RESPA. Is it legal to offer discounts if someone has a one stop shop offering title, closing, and mortgages? Yes.

17:32 – Natalie asks about Do Not Call Registry. Consumer or customer we can contact for 3 months. Client, someone we worked with, we can contact for up to 18 months.

20:45 – What happens to a verbal conversation when commission is in question? Is it a contract, is the agent entitled to a commission, and is the contract enforceable. Statute of frauds would apply.

26:00 – How to apply depreciation to improvements on a parcel of land? Do not include the land in the depreciation calculation. $185,000 x 60% = $111,000 + $47,000 = $158,000.

29:27 – Agency duties of care, obedience and loyalty.

31:44 – A house with outdated plumbing suffers from what type of depreciation? Functional obsolescence. Curable versus incurable.

35:00 – When an HOA applies rules inconsistently, when could they be held liable for violating Fair Housing? Disability. Not citzenship, immigration status, or marital status. Marital status is under ECOA, Equal Credit Opportunity Act.

37:37 – If a person owns an easement, what type of easement do they have? Easement in gross..

 

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