A-Ha! Real Estate Exam Prep Podcast

Episode 111 – Next Steps for A-Ha Going through state exam questions to help real estate students pass their state exam.  What I've been up to. Private messages about questions.  Memorizing test questions. DO NOT CHEAT!!  List of recent grads: Lydia, Ellena, Debra, Sahzad, Vince, Dana, Donna, Jerry, Danielle, Nautie, Dawn, Kim, BJ, Sasha, Darlene, Alex, Charlie, Rachel, Derrell, Maddox, Charles, Jeff, Gabe, Chanita, Carline, Junalee, Ashely, Briana, Zack, Melanie, Tara, Caitlin, Naomi, Elena, Darren, Emalee, Joshua, Tiffany, Blaire, William, Jodi, Melody, Melissa, Andjie, Andrew, Amanda, Jack, Eileen, Samantha, Brannon, Emily, Elyssa, Ricky, Jennifer, Maurice, Mackenzie, Renee, Bryce, Kelsey, Ahmad, Kari, Shannon, Daniel, Jennifer, Jessica, Mike, Vickie, Chelsea, Kae, Regina, Elisabeth, Her Pao, Carrie Ann, Nicole, Angie, Ellena, LaTrice, Tricia, Channpreet, Benjamin, Kaizer, Mickie, Vince, Jamie, Bryan, Katie, and Taryn..  Listener messages: Lydian (Arizona), Rachel (Indiana), Maddox (Pennsylvania, and Taryn (North Carolina)  Going on hiatus; nothing new to record  Keep sending me your messages  Working on “Part B” of this show; teaching you beyond the exam.  Farewell…for now!  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 https://www.facebook.com/AHA.REEP YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 110 - Real Estate Exam Questions: Environmental Issues Going through state exam questions to help real estate students pass their state exam. Happy Groundhog Day! NEVER stop learning! List of recent grads: Angela, Jerry, Charlie, Katelyn, Jennifer, Kelly, Laura, Michelle, Samantha, Ryan, Jessica, Melanie, Jay, Tatiana, Will, Andrea, Raquel, Bailey, Itzel, Chelsea, Dani, Charley, Katelyn, Lisa, Jackie, Diana, Ryan, Kathy, Gabe, Benjamin, Chris, Alexis, Trisha, Terry, Dee, Josh, Terry, Tom, Cassandra, Natalie, Christine, Katie, David, LaTisha, Jason, Shaina, Stephanie, Lee, Hannah, Lauren, Noel, Russ, Beth, Bill, and Jennifer. Listener messages: Kelly (Minnesota) and Laura (Georgia) Asbestos Lead Paint; 1978 Radon Carbon Monoxide Formaldehyde Mold CERCLA – Comprehensive, Environmental Response, Compensation, and Liability Act SARA – Superfund Amendment and Reauthorization Act Inspection: Phase 1, 2, and 3 Exam Questions 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 https://www.facebook.com/AHA.REEP YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 109 - Real Estate Exam Questions: Closing the Transaction Going through state exam questions to help real estate students pass their state exam.   Happy New Year! 3 Year Anniversary of A-Ha! REEP. YAY!!! Don't be entitled in life, in real estate, or with me. Ha ha!! List of recent grads: Joseph, Alejandro, Madiera, Tylar, Travis, Douglas, Zack, Christi, Alan, Patricia, Devon, Trudy, Rhonda, Wanda, Daniella, Cecilia, Maisy, Lena, Ruth, Melody, Sadie, Ryan, Tomeka, Scott, Christina, Chris, Jessica, Jeffery, and Hayley.   Listener messages: Jeffrey from Indiana and Hayley from Upstate New York Closing events and types                                                                                         Conducting the closing RESPA – Real Estate Settlement and Procedures Act ABA – Affiliated Business Arrangement TRID – TILA RESPA Integrated Disclosure rule; Truth in Lending Loan Estimate and Closing Disclosure forms Kickbacks, referral fees, and rebates Debit and Credit Prepaid and Accrued expense prorations Banker's Year vs. Actual calendar days Math Transfer stamps, excise tax, revenue stamps, deed tax, etc. Exam Questions   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 108 – End of Year Update Going through state exam questions to help real estate students pass their state exam.   Update on law school finals Tips on how to study Suggestions for real world issues in Secured Transactions, Trusts and Estates, and Income Tax List of recent grads: Latoya, Sandy, Denise, Rachel, Shelby, Michael, Erika, Brittany, James, John, Femi, Dally, Rosalind, Kayla, Lori, Brianna, Reese, Brian, Melissa, Matt, Charles, Jessica, Alyssa, Blessing, Grace, Meranda, Devin, Jeff, Gabriela, Ethan, Eddie, Cole, Heidi, Mark, Leidary, Veronica, Courtney, Kaylen, Zoe, Ruth, Evelyn, Jaquelyn, Dana, Caleb, Connor, Breondra, Kylena, Shelley, Mohammad, Jessica, Delaney, Lacey, Shana, April, Johana, Jaxson, Janie, Lancia, Iris, Tania, Peyton, Sheryl, Kyle, Shawn, Caitlin, Della, Renn, Sem, Kevin, Brooke, Andrea, Danna, Wendy, Joseph, Karigan, Ashia, Jasmine, Martin, Sheldon, Whitney, Denise, Jeff, Justin, Sali, Lynn (happy picture on FB page), and Daniel.   Listener messages from Sandy in New Jersey, Rachael in Washington State, and Denise in Ohio.   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 107 - Real Estate Exam Questions: Public and Private Land Use Controls Going through state exam questions to help real estate students pass their state exam.   Happy Thanksgiving! Send me your favorite recipes. State exam vs. State portion of the State Exam List of recent grads: Lynn, Ryan, Brittany, Gilbert, Daniel, Christelle, Ralitsa, Mara, Kayla, Martin, Kim, Sally, Paulina, Rachel, Tyler, Johnnie, Julie, Jennifer, Max, Sophia, Crystal, Alexis, Tony, Baylee, Jordan, Jose, Camila, Edna, Hannah, Kim, Monica, Brandon, Alexander, Chelsie, Madeline, Michael, Alvin, Carl, Kari, Jean, Stacy, Diana, Karen, Robert, Sarah, Justin, Julie, Dipali, Katie, Garret, and Tayler.   Listener message from Christie in California Public vs. Private P.E.T.E. – Police Power, Eminent Domain, Taxation, and Escheat Condemnation; Taking; Regulatory taking; Inverse Condemnation Zoning classifications; density zoning; setbacks; non-conforming use; grandfathered use Variance vs. Conditional Use Permit Building Code: permit and certificate of occupancy Private land use controls: HOA and Covenants, Conditions, and Restrictions (CCRs) Deed restrictions; contractual agreement Enforcement through court system. Zoning vs. Building Code vs. Private Restrictions Exam Questions   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 106 - Real Estate Exam Questions: Real Estate Taxes and Liens Going through state exam questions to help real estate students pass their state exam.   I'm not telling it will be easy. I'm telling you it will be worth it! List of recent grads: Max, Sophia, Crystal, Alexis, Lori, Alexander, Anthony, Angel, Baylee, Ceasar, Jordan, Jose, Ruperto, Camila, Edna, Vanessa, Emmanuel, Hannah, Kim, Monica, Janie, Raven, Chelsie, Madison, Michael, Angelica, Alvin, Kristina, Samantha, Carl, Kenndey, Evelyn, Connie, Amy, Justin, David, Hilda, Dora, Lindsey, Valerie, Sabrina, Devin, Gerald, Jessica, Carmen, Grace, Haven, Martha, Theresa, Steve, Brianna, Jessie, Aubrey, Katelyn, April, Shelby, Joe, Carly, Diana, Shannon, Tiffany, Sarai, Casey, Jennifer, Amaryllis, Ally, Kamera, Caitlin, Andrew, Liliana and Stephanie. Listener messages from Liliana and Ally. Lien defined VICE: Voluntary, Involuntary, Equitable, or Statutory General and Specific Liens Effect and Priority of liens Real estate taxes and calculations; assessed value, equalization factor Special assessments Liens types Lis pendens Exam Questions   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 105 - Real Estate Exam Questions: Appraisal/Valuation Principles and Math Going through state exam questions to help real estate students pass their state exam. We are not ONLY in Indiana. We are a nationwide service. List of recent grads: Carmen, Mosi, Eliana, Addyson, Grace, Haven, Martha, Theresa, Brianna, Jessie, Aubrey, Katelyn, April, Shelby, Joe, Brandon, Aramis, Jada, Jose, Mason, Kylei, Phoebe, Jackie, Amelia, Maite, Selena, Janessa, Sh'Nyah, Mariana, Esmeralda, Lesley, Sav, Tommy, Rebecca, Ihsan, Maddy, John, Ylanerie, Madison, Gretchen, Tiffany, Nicole, Honour, Randi, Kimberly, Amy, Santiago, Dawn, Jessica, Shannon, Rina, Katherine, Amber, Kayleigh, Gabriel, Brian, Ian, Wendy, Lisette, Lisa, Brooke, Jean, Starlynn, Simone, Andrew, Lori, Samantha, and Emma. Listener messages from Samantha and Emma. Go to www.brianclee.com for Real Estate Between the Lines podcast Value – DUST or STUD Anticipation Highest and Best Use Increasing and Diminishing Returns Regression vs. Progression Substitution Sales comparison approach Cost approach Income approach Exam Questions   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 104 – Podcast Update Going through state exam questions to help real estate students pass their state exam.   Quick update on the podcast and what I have been up to.   Bookmark www.aharealestateacademy.com for new classes in many other states.   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 103 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 2 Going through state exam questions to help real estate students pass their state exam.   01:35 – Thank you for helping me reach 500,000 downloads!! 02:40 – Find you support system to get you through the class, the exam, and your career. 05:55 – List of recent grads: Andrea, Dylan, Matt, Karina, Iris, Ricardo, Yadira, Miracle, Jennifer, Brittany, Antonio, Dominic, Ashley, Kristian, Halie, Rikkel, May, Blanca, Mayra, Chellsea, Marilyn, Leslie, Talia, Max, Danielle, Madelene, Sherry, Brooklyn, Gracelyn, Dar, Lillian, Alexander, Carmen, Tosin, Davonnia, Micah, Maria, Marcus, Lawrence, Bernadine, Fabiola, Ana, Jose, Natasha, Rachel, Alicia, Abby, John, Jason, Brandon, Oliver, Karla, Erin, Ameca, and Scott. 07:40 – Listener Messages from Matt and Karina. 12:05 – Episode Focus: Finance and lending in real estate, part two. 12:45 – Primary versus Secondary mortgage market. 15:40 – Loan to Value; LTV; loan and downpayment. 23:40 – Private Mortgage Insurance (PMI) and Mortgage Insurance Premium (MIP); Homeowner's Protection Act of 1998; Conventional loan; loan amount higher than 80% or downpayment lower than 20%. 27:25 – FHA and VA loans; insured versus guaranteed loans. 30:10 – Loan types: straight loan, adjustable-rate mortgage (ARM; index, margin, and rate caps), balloon loan, reverse mortgage, package loan, blanket loan, wraparound loan, home equity loan (HELOC), bridge loan, and buydown mortgage. 53:20 – Truth In Lending Act (TILA) and Regulation Z; applies only to residential loans; annual percentage rate (APR), three day right of recission; advertising; trigger terms. 1:04:10 – Reach out to me if you are seeing questions about credit scoring and/or loan underwriting. 1:05:15 - Exam questions 1:26:45 – July's episode is all about appraisal and valuation; income approach, and other appraisal terms you will need to know to pass the real estate exam.   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 102 - Real Estate Exam Questions: Real Estate Finance, Lending & Math, Part 1 Going through state exam questions to help real estate students pass their state exam.   02:05 – B's Message: Making mistakes is better than faking perfection. 06:30 – List of recent grads: Andrea, Joyce, Lynn, Adrienne, Abigail, Jessica, Angela, Sara, Marquita, Kimmy, Bruno, Eric, Jennifer, Rina, Daisy, Sabrina, Shauna, Marie, Anne, Renae, Staci, Samantha, Joey, Steven, Barbara, Tina, Elizabeth, Karen, Ashley, Lewis, Veronica, Adam, Delaney, Dianna, Claudia, Bryant, Perry, Melissa, Sheila, Tina, Frank, Lane, Daniel, and Jade. 08:30 – Listener Message from Andrea 12:20 – Episode Focus: Finance and lending in real estate, part one. Part two will come out in June. 14:00 – PITI payment; Principal, Interest, Taxes, and Insurance. 18:15 – DTI; Debt to Income ratio. 21:35 – Promissory note; IOU; contract between the borrower and the lender. 24:10 – Mortgage – verb and noun (lien); hypothecation; mortgagor and mortgagee; lien theory versus title (trust) theory. 31:55 – Interest payments; Formula: Loan amount x Periodic Interest Rate = Periodic Interest Payment; interest rate is almost always expressed as an annual rate. 37:40 – Discount point; increases yield to lender; reduces interest rate paid by borrower; value of a discount point; Formula: Loan Amount x Discount Point (as a percent) = Cost of Discount Point. 46:55 – Mortgage clauses: acceleration clause, defeasance clause (satisfaction of mortgage), and alienation clause. 52:15 – Foreclosure: judicial versus non-judicial; deed in lieu of foreclosure; short sale; redemption (equitable right versus statutory right); deficiency judgement. 1:00:25 – Exam questions 1:34:20 – June episode is part 2; LTV (loan to value), loan types, and governmental regulations (RESPA and TILA).   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 101 - Real Estate Exam Questions: Fair Housing Going through state exam questions to help real estate students pass their state exam.   03:00 – Message of kindness and respect. Open your mind! 09:50 – List of recent grads: Brandon, Elmer, Bronda, Cindy, Layton, Maxwell, Dillon, Philip, Alayna, Michael, Angela, Cullen, Avery, Barrett, Nanticia, Kyle, Raven, Whitney, Milan, Mandy, Albert, Halim, Janice, Alisia, Claudia, April, Janeva, Martina, Abbey, Ella, Isaiah, Betty, Dana, Juston, Darian, Jennifer, Conner, Richard, Zaria, Ruth, Dajon, Rhonda, Michelle, Morgan, and Kasandra. 11:05 – Message from Brandon. 12:50 – Episode Focus: Fair housing 13:30 – Know the years; Civil Rights Act of 1866; only race was the protected class. 14:35 – Fair Housing Act; Title 8 (VIII) of 1968; race, color, national origin, and religion. 16:10 – Sex/Gender added in 1974; Familial status and disability were added in 1988. Sexual orientation is not a federal protected class. 17:30 – Familial status defined. 19:35 – Disability: physical and mental 21:30 - Reasonable accommodations 23:50 – Security deposit issues. 27:10 – Service animals and how tenant selection and security deposits work. 30:20 – Exceptions to fair housing laws. Discriminatory advertising. Race is NEVER an exception to the fair housing laws. 35:40 – ADA; American with Disabilities Act; workplace, commercial, industrial, retail, and office spaces. 15 or more employees. 37:05 – Fair housing practices: Blockbusting, Steering, and Advertising. 41:35 – Lender issues and fair housing; ECOA (Equal Credit Opportunity Act); added marital status, age, and reliance upon public assistance as protected classes. 44:25 – Redlining. 45:20 – Enforcement is through the Department of Housing and Urban Development (HUD); unless complaint is based upon race, then the complaint goes directly to federal courts. 46:50 – These are the general, federal rules on fair housing. There is more to the federal, state, and local laws. Watch for the distinctions on your questions. 48:40 – Exam questions 1:12:35 – May and June episodes will be a two-part series on lending principles, practices, and math. So much content to cover, I had to split it into two shows. Come back for more to help you pass the real estate exam.   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Bonus Episode – 2024 NAR Settlement Discussion Thoughts and facts and full truthes about the NAR settlement with actual background and history. A lot of misinformation out there.  Biased news media and social media participants are looking for clicks, likes, and shares so they get money.  This episode is about the entirety of the truth along with the good and bad of the issue.  History of commissions  Legal issues and practices  How the “news” works  Settlement provisions: a.       Eliminate and prohibit the REQUIREMENT that listing Realtor brokers or sellers must make offers of compensation to a buyer's agent. b.       Prohibit Realtors from making an offer of compensation on the MLS or disclosing on the MLS any buyer agent compensation, listing compensation, or total compensation. c.       Require Realtor MLSs to eliminate broker compensation fields on the MLS and prohibit the use of any other field in the MLS to display compensation. d.       Eliminate and prohibit any requirements conditioning participation or membership in NAR on offering or accepting offers of compensation. e.       Agree not to create, facilitate, or support any non-MLS mechanism (Ex. Zillow, private websites, etc.) for listing brokers to make offers of compensation to buyer brokers. This rule is not violated if: f.        Unless state or federal (none to date and likely never will) law says differently, all Realtors (again, not all agents) working with a buyer must enter into a written agreement BEFORE the buyer tours any home with the following: g.       Prohibit Realtors from representing that their services are “free” or “no cost” to buyers unless they will not receive any form of financial compensation. h.       Realtors must conspicuously disclose to sellers and obtain seller approval for any commission the listing broker will provide to a buyer's agent. i.         Realtors must conspicuously state in the contract that broker commissions are not set by any law and are fully negotiable. j.         Realtors must not filter out listings that do not offer commissions.  What happens going forward?  How will things work?  Valuation of property and cash equivalency with mixed commission policies  What else should have been included?  We will get through this like every other bump in history.  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 https://www.facebook.com/AHA.REEP  YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 100 - Real Estate Exam Questions: Fee Simple and Life Estates Going through state exam questions to help real estate students pass their state exam.   01:20 – We hit episode number 100!!! 02:35 – Be careful where you get your information for your exam questions. Not all are the same. Watch for state specific topics versus the general/national portion of the exam. 06:20 – Example: the value of a point in relation to the interest rate reduction. 08:10 – List of recent grads: Sara, Jamila, Sharon, Breanna, Tim, Kap, Jaquie, Natalie, Shana, Austin, Sheila, Simon, Grant, Marlainna, Maya, Kennedy, Deborah, Sydney, Bridgette, Michael, John, April, Janeva, Martina, Elishia, Jessica, Naomi, Christina, Matthew, Maria, Sophia, Loren, Brandi, Eric, Dominique, Odonel, Jordan, Mark, Dana, Andres, James, Kiana, Anitra, Dayanna, Nathanial, Tatiyon, and David. 09:15 – Messages from Sara and Tatiyon. Common theme: breathe and listen to all the A-Ha episodes. 14:30 – Episode Focus: fee simple, fee simple absolute, fee simple defeasible, and life estates. 16:10 – Freehold and Non-Freehold estates. 19:00 – Fee simple and fee simple absolute. 21:40 – Fee simple defeasible: a qualified fee estate that is subject to the occurrence or nonoccurrence of some specified event. 23:30 – Three forms of fee simple defeasible: determinable, subject to condition subsequent, and subject to executory limitation. One main difference: if the condition is not met, who gets the property? 27:30 – Determinable versus subject to condition subsequent; words and phrases distinguish them; how does the property go back to the original grantor; lawsuit required? Possibility of reverter or right of reentry (power of termination.) 30:45 – Fee simple subject to condition subsequent: right of reentry/power of termination; the original grantor must bring a court action to exercise their right to reenter the property. 36:35 – Watch who has the future interest. Is it the original grantor or some third party? 38:10 – Life estate; life tenant; pur autre vie; remainder and reversion/reversionary interest; when is a life estate inheritable or transferable? 40:45 – Pur autre vie examples. What can a life estate holder do? Inheritable. 44:55 – What happens when the defined life is extinguished, who gets the property interest? Reversion/reversionary interest or remainder interest (remainderman). 49:45 – Legal life estate – state law that recognizes dower and curtsey rights, or homestead right. 51:10 – Exam questions 1:06:15 – April's episode will be about fair housing. Come back for more to help you pass the real estate exam.   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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Bonus Episode – December 2023 Thoughts from a law school student about the real estate licensing exam.   00:00 – I missed my 100th episode. Thank you!!! Welcome to the 101st 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 https://www.facebook.com/AHA.REEP   YouTube 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   Facebook https://www.facebook.com/AHA.REEP   YouTube 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 https://www.facebook.com/AHA.REEP   YouTube 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 https://www.facebook.com/AHA.REEP YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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 https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube 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 4th, 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.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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   Facebook https://www.facebook.com/AHA.REEP   YouTube 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   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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.   A-Ha LINKS  Email info@ahareep.com  Web www.ahareep.com Facebook https://www.facebook.com/AHA.REEP  YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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.  A-Ha LINKS  Email info@ahareep.com  Web www.ahareep.com Facebook https://www.facebook.com/AHA.REEP YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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?.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

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..   A-Ha LINKS  Email info@ahareep.com Web www.ahareep.com Facebook https://www.facebook.com/AHA.REEP YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 082 - Real Estate Exam Questions 36 Going through state exam questions to help real estate students pass their state exam.   01:30 – Congratulations to the recent test graduates: Kimberly, Kristen, Mandy, Tracey, Lisa, Renee, Matt, Dea, Hannah, Susan, Murphy, Krystal, Paul, Kelsey, Gabriel, Pat, Amy, Tracey, Lori, Collen, Anita, Jackie, Brandon, Zee, Emman, Tori, Nick, and Aliyah. 02:12 – Message from Kimberly. 3:43 – Our website is fully functional now. Visit us at www.ahareep.com and use discount code legendary15 for 15% off membership. 07:45 – What is the nominal rate in a loan? It is the rate of interest specified in the promissory note. 10:43 – A salesperson wants to buy a home from an owner that is not represented by an agent. What is required of the salesperson? Verify what the office policy will allow. 13:28 – What is needed in an offer to purchase to ensure the buyer can cancel the contract if they are denied a loan? A contingency. 15:55 – What type of estate does an owner receive when they buy a parcel of land  with the promise that the buyer does not tear down the building that is present on the land? Determinable fee estate or Fee Simple Defeasible. 18:48 – What is true of a contract when the seller cannot honor a closing date with the buyer? The contract is voidable by the buyer.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 081 - Real Estate Exam Questions 35 Going through state exam questions to help real estate students pass their state exam.   00:00 – 100,000 downloads!!! What an incredible accomplishment and it is thanks to all of you! You rock!!! 03:10 – Recent state grads: Kate, Mapnr, Grant, Kristy, Ashley, Michelle, Essence, Allie, Vaughn, Karen, Matt (IN), Anita, Anne, Kim, Courtney, Lynn, Gail, Maggie, Alecia, Tina, and Susan. 03:45 – Email from Susan. Stick with it. You WILL pass. 07:35 – Watch the discount schools. You get what you pay for. 09:30 – What should a broker do when an agent wants to leave them? What about real estate leads and pending transactions? What if the broker suspects unethical behavior? 18:13 – What do PITI payments include? Principal, Interest, Taxes, and Insurance. It does not include PMI, MIP, or HOA dues. 22:02 – Real property is defined as what? It does not include mobile homes or cemetery lots, which are personal property. 24:55 – What is ingress and egress? Simply it means in and out. 26:45 – Are oral/verbal agreements enforceable? Difference of enforceable and unenforceable contract versus a valid and void/illegal contract. Statute of frauds. 30:55 – Who can you call when a person is on the Do Not Call List/Registry. 33:10 – What does a zoning map show and what does the comprehensive plan include? 35:55 – What rule must an owner follow if one conflicts with another: building codes, zoning, and deed restrictions? 39:40 – Servient versus dominant tenement in an easement. Servient serves another property owner. Dominant dominates another property owner.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 080 - Real Estate Exam Questions 34 Going through state exam questions to help real estate students pass their state exam.   02:00 – Message from Maria; share your cooking recipes; go back to old episodes and YouTube channel for specific topics and subjects. 04:20 – Study buddies from all over. Let me know how I can help facilitate. 05:15 – Watch sharing test questions and cheating. States are watching, so don't lose your license for cheating. 07:50 – Question about downpayment, loan to value (LTV), and purchase contract. For LTV choose the lower of purchase price or appraised value. Don't forget purchase contract for difference between appraisal and purchase price. 12:48 – Is farm equipment personal property if its a trade fixture when a lease is involved? 17:18 – What type of lease would be appropriate for a tenant that wants a fixed rent amount? Gross lease. 19:50 – When may a salesperson open his own real estate business without a supervising broker (e.g. managing broker or principal broker)? When the salesperson is a supervising broker. 22:10 – What approach to value would an appraiser use to value a property if they have cost amounts? Cost approach. When would you use the different approaches to value? Sales comparison approach, income approach, and cost approach. 25:25 – Can a landlord enter their rentals without consent from the tenant? No due to tenant's right of quiet enjoyment. 28:03 – Which agencies purchase loans in the secondary mortgage market? Fannie Mae (FNMA), Ginnie Mae (GNMA), and Freddie Mac (FHLMC), not FHA. FHA insures a loan. 30:45 – When compared to a 30-year payment period, taking out a loan with a 20-year payment period results in what? Higher monthly payments, lower interest rates, and higher equity build-up.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 079 - Real Estate Exam Questions 33 Going through state exam questions to help real estate students pass their state exam.   00:55 – It is Valentine's Day and I love teaching real estate. 02:00 – Shout to all of the graduates, Hannah, Sean, Justin, Ann, Rich, Jeff, Kathy, Isaac, Kevin, Molly, Michelle, Stacey, Lisa, Lori, and Michael. 03:30 – Stephanie: “Shut your face, I passed”. 05:20 – Please send me your state specific study materials. I will go through it and make study guides for you. 08:45 – Do NOT cheat to pass the test. Do NOT study test questions. 14:18 – If broker represents a seller and presents an offer from the broker's best friend. Who does the broker represent and act in their best interest? Answer: the seller, not the best friend. 19:00 – What is Time is of the essence? 22:50 – What type of lease automatically renews? Periodic tenancy, periodic estate, estate from period to period. 27:05 – Zoning designations: residential, commercial, and industrial. Differences between public and private controls. Who are the participants? 31:20 – What percentage share is assumed when co-owners take ownership as tenants in common? Answer: assumed to be equal, but is not required to be equal. 35:48 – Fannie Mae, Freddie Mac, and Ginnie Mae – they do not provide loans, they buy loans from banks; conforming and non-conforming; FHA insured and VA guaranteed.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 078 - Real Estate Exam Questions 32 Going through state exam questions to help real estate students pass their state exam.   01:30 – Pause the podcast and go watch Groundhog Day. 03:00 – Shout out to everyone that is passing the exam and some tips from Chris. 07:45 – Suggestions on doing math on the real estate exam. 12:05 – Proration of rent. 3 apartments rent for $995, close on November 14; what is prorated rent? Answer $1,592. 18:25 – Are seller concessions based upon the loan amount or the purchase price? For loan qualification purposes it is the based upon the purchase price. 22:45 – What is the difference between abstract of title and chain of title? 25:45 – What clause allows a lender to demand full payment when the borrower is in default? Acceleration clause, not alienation clause or prepayment clause. 28:45 – What type of ownership do two joint tenants have after a third owner sells their interest? They remain joint tenants. Combination of tenancies. 34:10 – What form of ownership does a joint tenant have when the other joint tenant passes? Answer: severalty. 37:40 – Explain the differences with examples of a unilateral and a bilateral contract, and express versus implied contract.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 077 - Real Estate Exam Questions 31 Going through state exam questions to help real estate students pass their state exam.   03:35 – Be care of scammers on our FaceBook page. 06:12 – Prorations: 360 day year; bankers year. Check our class videos on our YouTube channel. 13:20 – What can and cannot terminate an offer to purchase real estate? 18:17 – What type of lease includes a fixed or base rent and a percentage of the cost to maintain the building? Answer: Net lease. 22:47 – How should a buyer take ownership if they want to ensure their spouse receives the property upon the first party's death? What should the broker suggest? 26:15 – A contract is terminated if what happens? Answer: impossible to perform. 29:15 – What are private land use controls? Answer: deed restrictions. 31:33 – What is required when an owner lists their property for sale “as is”? Answer: seller must disclose defects.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 076 - Real Estate Exam Questions 30 Going through state exam questions to help real estate students pass their state exam.   01:17 – Message from Wendi; how to study for the test. 05:20 – Is it worth buying test prep material? 10:35 – Difference between tenancy in common and joint tenancy, right of survivorship. 15:30 – Culpable negligence, negligent misrepresentation, and fraud. What is an agent's responsiblity? 21:30 – Trade fixture, fixture, and appurtenance issues with a commercial tenant. 27:22 – What does a home warranty cover for a previously owned home? 29:55 – What type of lease would be suited with tenants that have growing income? Percentage lease, not gross lease. 34:00 – Is a commission due to a listing agent when an offer arrives that meets the terms of the listing agreement? Watch suit for specific performance. 40:18 – What valuation approach to use for a mixed use property with commercial and living space? Income and sales comparison approach.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 075 - Real Estate Exam Questions 29 Going through state exam questions to help real estate students pass their state exam.   01:17 – Message from listener Angel. 03:00 – How to choose a broker to work with. 07:00 – How to proceed when working with a client that has a guide dog. 12:50 – What to do when a client submits an offer and decides not to proceed. 16:10 – Does the broker company name need to be on websites and other advertisements? 20:22 – Math: calculating real estate commissions; $450,000 x 3% x 55% = $7,425; Email us for the real estate commission split tree. 25:50 – Permissible Fair Housing advertisements. 30:42 – What is the debit and credit for the purchase price, new mortgage, and existing mortgage? 38:20 – Net to seller calculation: $520,000 x 95% - $205,100 = $288,900.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 074 - Exam Questions 28 Going through state exam questions to help real estate students pass their state exam.   01:20 – Never a bad time to get into the real estate industry. 03:45 – One year anniversary of the A-Ha! Podcast. Thank you!! 06:10 – Email from Lauren. Email brian@ahareep.com for the PSI exam outline. 08:55 – Messenger message: what can a student do if they don't pass the exam in time and have to retake the real estate class? 14:50 – Difference between net and gross leases. 18:05 – What is the right of first refusal? Is the seller required to sell their property? 20:00 – Calculating closing costs and how it works with down payment, appraised value, and discount points. The lender bases their lending criteria on the lower of the purchase price or appraised value. 22:37 – Cost of discount points: $325,000 purchase price, $340,000 appraised value, 20% down payment, and 1.5 discount points paid. $325,000 x 80% = $260,000 x 1.5% = $3,900. 27:22 – What should an agent do if they notice the water heater is not operable? 31:18 – What rule is broken when a lender changes the loan terms at the closing table and pressures the borrower to sign the loan documents? Equal Credit Opportunity Act (ECOA), TRID, and RESPA. 37:00 – How to remember blockbusting, steering, and redlining. Blockbusting: busting up (breaking up) the neighborhood; Steering: steering (guiding) clients to or away from certain areas based upon protected class; Redling: illegal lending practice where lenders draw a “red line” around areas they do not want to lend in based upon a protected class   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 073 - Exam Questions 27 Going through state exam questions to help real estate students pass their state exam.   01:50 – Email from John about taking the exam and even with experience, had some trouble with the exam. Stick with it! 04:25 – Can a principal/managing broker be compensated directly with a bonus from a seller? 08:48 – Can an unlicensed person measure the square footage of a property? 11:57 – Is an agent liable for false statements made by an owner of property? 15:47 – What is the purpose of a broker protection clause in a listing agreement? 19:34 – Can an unlicensed person rent public lodging? 21:36 – Help out the community by responding to the question: Which of the following does not constitute a fixture? A. Tree, B. Shrub, C. Swimming Pool, or D. Bush.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 072 - Exam Questions 26 Going through state exam questions to help real estate students pass their state exam. 01:44 – Freakonomics podcast with Stephen Dubner. Read the show notes of podcasts. 04:12 – Email from Priscilla from New York. 06:03 – Caroline from Pennsylvania with phenomenal words for all listeners and test takers. 08:45 – Condo ownership and who needs to sign contracts when selling the community. 12:38 – Commingling issues and what can a broker do with an escrow account. 19:37 – What is required of the seller when they do not want to leave a real property item? 21:53 – What fee may a lender collect prior to delivering the Loan Estimate form? 24:40 – Some terms are different between instructors and exam preparers. Some terms mean the same thing but have a different name. Watch the similarities and the differences. 29:02 – Why is a deed acknowledged? Notary public. 32:00 – Valid, void, and voidable issue for a 17-year old purchasing a home and living in it for a year. 35:13 – What is required of an FHA loan? 38:07 – Tenants in common, deed restriction, and removing real property. What can owners do?   A-Ha LINKS   Freakonomics Podcast - https://freakonomics.com/   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 071 - Exam Questions 25 Going through state exam questions to help real estate students pass their state exam. 01:40 – Congrats to MaryEllen for passing! 03:40 – What should a broker do at an open house when another broker's client shows up? 07:50 – What duties does an agent have to their client? Submit the property in the MLS? 12:00 – What can an agent do when another agent has done nothing for a client? 18:05 – When is an agent in compliance with Fair Housing when renting property? 23:02 – When can a tenant with a disability make a reasonable change to a property they are renting? 26:30 – Calculating down payment, loan amount, and discount points. A-Ha LINKS Email info@ahareep.com Web www.ahareep.com Facebook https://www.facebook.com/AHA.REEP YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 070 - Exam Questions 24 Going through state exam questions to help real estate students pass their state exam.   01:50 – National (General) versus State exam. 05:00 – Some states have one, mixed test. Some states have two separate portions. 06:15 – Advice in taking the state exam: study and focus on one portion of the exam or the other. 10:05 – When retaking an exam, do not expect to see the same questions on subsequent exams. 11:35 – Do criminal convictions keep you from getting a real estate license? 14:00 – Kelsi called Brian out on a question. 15:35 – Difference between express contract and implied contract. 18:10 – Life estate issues when a life estate holder dies before the end of the life estate. 25:10 – What circumstance should a buyer investigate water rights? 27:50 – Must a licensed agent list their own property with their brokerage? 31:25 – Who decides where earnest money is deposited? 33:33 – A low loan-to-value ratio equals a high down payment and high equity. Inverse relationship between loan and down payment. 36:35 – What deed gives the least warranty to a grantee? 40:20 – Proration concerns when a buyer assumes a loan from a seller. Who is debited and who is credited?   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 069 - Exam Questions 23 Going through state exam questions to help real estate students pass their state exam.   03:50 – Message from Mitzi with three questions. 06:00 – Who is responsible for keeping records of certificates for taking continuing education? 07:45 – What happens when an agent wants to work with two brokers in one state? What if they want to work in property management? 12:20 – Does a property have to disclosure prior lawsuits or prior defects that have been completed or repaired? 15:55 – What are the ownership components of a condominium? 20:40 – What is the best way to discover an encroachment on a property? 23:20 – What type of title insurance decreases as the mortgage balance decreases?   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 068 - Exam Questions 22 Going through state exam questions to help real estate students pass their state exam. 01:40 – Happy Thanksgiving! I am thankful for you and your listenership. 03:20 – When can an agent not accept a listing? 06:00 – What are the components of a metes and bounds legal description? 09:25 – What would demonstrate that land is indestructible? 11:15 – When can an offer be withdrawn or rescinded? 14:37 – What happens to an offer when a client is out of town but has an attorney in fact? 17:30 – Amanda giving two bits of advice: go with your gut, and read the entire question. 20:50 – What can a transactional broker do? Watch for the word “except”. 24:02 – What scenario would it not be appropriate for an agent to accept a listing? 26:20 – Difference between the terms “title” and “deed”. Title is a concept, it is ownership. Deed is a tangible document. 30:17 – How would parties change the closing date in a signed contract?.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 067 - Exam Questions 21 Going through state exam questions to help real estate students pass their state exam.   00:00 – Give yourself a pat on the back for changing your future. You have made the decision to go where many will not. I am proud of you! 04:20 – Are the exam questions the same each time you take the test? 06:50 – What is a reverse mortgage and what borrower would most likely use that type of loan? 08:28 – What happens to the commission when an agent switches from one brokerage to another? 10:22 – Who do you notify if the earnest money does not go through? 12:33 – If the material defect is repaired, does it need to be disclosed? What should the agent do? 14:17 – Where does the tenant's security deposit go when an owner changes from one property manage to another? 16:25 – How is earnest money described? It is NOT consideration. 18:27 – What happens when a 16 year old signs a lease agreement? What happens when someone without mental capacity signs a contract to purchase?. 24:50 – On our private FaceBook page, we added several documents of study guides to help with math formulas, calculations, terminology, etc..   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 066 - State Exam Questions 20 Going through state exam questions to help real estate students pass their state exam.   03:30 – Mortgage factor chart; Number of thousands borrowed x mortgage factor = payment. 07:30 - $150 (number of thousands borrowed) x 9.91 (mortgage factor) = $1,486.50. 12:44 - $200 x 10.45 = $2,090. 13:48 - $129 x 7.34 = $946.86. 15:15 – What clause makes a mortgage unassumable? 18:05 – What is a piggyback mortgage and what down payment is required for an 80-10-10 mortgage? 21:50 – What is the principal in a mortgage? 25:27 – When will an agent be liable when writing a comparative market analysis (CMA) with inappropriate comparables? 27:55 – How should an agent handle a client that asks about taking title as joint tenants or tenancy by the entirety?   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A

Episode 065 - State Exam Questions 19 Going through state exam questions to help real estate students pass their state exam.   02:18 – Watch you sources for exam prep information. Not all information is correct or complete. 06:34 – What are the steps to using the cost approach? 09:15 – What is the purpose of a real estate appraisal? 10:58 – What must an appraiser do before using a comparable property? 13:25 – What is a life estate and how do they work? Pur autre vie – for the life of another. 17:02 – Who gets the earnest money when the parents of the buyer provides the earnest money? 21:08 – What type of agency exists when two different agents working for two different firms but are affliated with the same national franchise? 24:23 – What is the difference between a license and an encroachment? 27:29 – Calculating interest payments: $120,000 loan with a $2,700 quarterly interest payment, what is the annual interest rate?  $2,700 / $120,000 = 2.25% (Quarterly); 2.25% x 4 = 9% annual interest rate.