Episodes
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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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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Missing episodes?
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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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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 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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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Episode 097 - Real Estate Exam Questions: Contract Law
Going through state exam questions to help real estate students pass their state exam.
01:10 – December: Happy Holidays!
03:00 – List of recent grads: Christina, Lori, Delphine, Alisha, Patrick, Adelaide, Chefor, Grant, Heather, Anne, Carl, Arianna, Jessica, Shukeh, Amber, Autrey, Joana, Kongyu, Miles, Leticia, Larry, Maddy, Kim, Tony, Dawn, Mason, Miranda, Eleyna, Bill, Rose, Renee, Carol, Johnathon, Nathalie, Morgan, Alylynn, and Katrina.
04:10 – Message from Christina.
07:05 – Episode Focus: contract law
08:15 – Elements of a valid contract: Voluntary, Promise/s, Legal, Competency (Capacity), and Consideration.
14:00 – Express versus Implied contracts; statute of frauds.
20:00 – Bilateral and unilateral contracts.
23:35 – Creation of a contract; mutual assent (meeting of the minds); offer and acceptance; offeror and offeree; accept, reject, and counter; counteroffer is a rejection of prior offer terms; offeror can rescind (rescission) before their offer is accepted.
33:40 – Valid, void, and voidable contract; enforceable and unenforceable.
40:45 – Breach of contract; suit for specific performance.
42:30 – Termination of a contract – Performance and mutual release
45:50 – Contingencies: mortgage, inspection, title, sale of home, find another home, and more.
46:45 – No earnest money is required for a valid contract; equitable title; amendment and addendum.
53:10 – Contract law exam questions.
1:15:00 – January’s episode will be about agency: creating agency, fiduciary responsibilities, dual agency, and other obligations agents have with their clients.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Email
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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Episode 096 - Real Estate Exam Questions: Listing Contracts
Going through state exam questions to help real estate students pass their state exam.
01:55 – November: My favorite holiday is Thanksgiving because of the food. Giving thanks to my family, friends, and all the listeners for your loyalty and support.
04:10 – List of recent grads: Sandra, Laura, Bess, Shannon, Bella, Sonita, Paige, Megan, Chasity, Matt, Amy, Saul, Jacob, Stuart, Ronda, Zach, Timothy, Avo, Kali, Jessica, John, Jeff, Kelly, Leslie, Kay, Marissa, Andrea, Sarah, Stephanie, Keesha, Madison, Tiffany, Emilie, Tatyana, Tarri, Renea, Natalia, and Mindy.
05:30 – Message from Sandra.
07:30 – Episode Focus: Listing contracts
08:10 – Three types of listing contracts (listing agreements) are exclusive right to sell, exclusive agency, and open listing.
14:50 – Net listing
18:55 – All listings are required to have an expiration date. Listings can be extended or renewed.
20:30 – Listing contracts are between the broker and the seller, not the agent.
22:40 – Net to seller math: put your focus on the seller’s perspective.
24:10 – Put all the costs on one side of the equation.
25:00 – Sales price x (100% - Total Commission Rate) – Closing and other costs to seller = Net to seller
29:00 – If a seller needs to net $50,000 after the sale, how much must the real estate sell for if the selling costs include a 7% commission and $1,200 in other expenses? Answer: $50,000 + $1,200 = $51,200 / 0.93 = $55,054
31:00 – Test questions about listing contracts, listing agreements, and net to seller calculations. Don’t forget to work your math questions backwards by using the answers to work the question.
49:55 – December’s episode will be about contracts including contract formation, offer, counteroffer, acceptance, valid, void, and voidable, and more.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Email
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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Episode 095.5 – Real Estate Exam Cram
Going through state exam questions to help real estate students pass their state exam.
01:00 – Another surprise episode!! Exam cram.
01:30 – More than 250,000 downloads overall, 27,000 downloads per month. Top 5% of all podcasts.
02:40 – Update on my law school mid-terms. Walking the walk
05:20 – List of recent grads: John, Taylor, Sherry, Trudy, Jennifer, Bai, Khan, Madi, Jenn, Megan, Mags, Michelle, Steven, Chris, John, Shauna, Cindy, Dena, Deb, Baxter, Frank, Kim, John, Katlynn, Leo, Eleyna, Melissa, Kevin, John, Felicia, Stephanie, Gerald, Sarah, Linden, Angela, Kendall, Kayla, Maggie, Christina, and Maverick.
07:50 – Messages from Sherry (Mississippi), Jennifer (Alabama), and Taylor.
11:25 – Feedback response: make an episode about cramming for the exam. Look for our videos about topics at www.ahareep.com.
14:45 – Real estate exam topics: Property rights, DEEP C, fee simple absolute and defeasible, life estate, real property and personal property, legal tests of a fixture, encumbrance, lien, special assessment, easements, public and private land use control, ownership types (severalty, tenant in common, joint tenancy with right of survivorship, and tenancy by the entirety), transfers of title, deed types (general warranty, special warranty, and quit claim), actual and constructive notice, relationship of broker and agent, calculate real estate commissions, anti-trust (price fixing, group boycott, and allocation of customers or markets), listing agreement types (exclusive right to sell, exclusive agency, and open listing), net to seller, express and implied contracts, bilateral and unilateral contracts, valid, void, and voidable, statute of limitations, enforceable, agency, client and customer, fiduciary responsibilities, compensation, legal descriptions, lease types (estate for years, periodic tenancy, estate at will, and holdover tenancy (estate at sufferance)), gross, net, percentage and variable leases, proration, RESPA, kickbacks and referrals, Fair Housing, protected classes, ECOA, blockbusting, steering, advertising and redlining, mortgage types (conventional, FHA, VA, blanket, package and wraparound loans, balloon, and reverse), mortgage factor chart, Truth in Lending, 3 day right of recission, value (DUST and STUD), sales comparison, cost approach and income approach appraisal, environmental (brownfields, CERCLA and SARA, and environmental inspections.)
1:13:15 – Look for videos and past episodes for more information. Make an outline and create a study guide.
1:14:45 – November’s episode will be about listings and listing contracts.
Go to www.indianarealestateinstitute.com for real estate classes.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 or legendary15 to save 15% off.
A-Ha LINKS
Email
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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
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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.
A-Ha LINKS
Email
Web
www.ahareep.com
Facebook
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YouTube
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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.
A-Ha LINKS
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www.ahareep.com
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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
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Web
www.ahareep.com
Facebook
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YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
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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
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Web
www.ahareep.com
Facebook
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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
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www.ahareep.com
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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.
A-Ha LINKS
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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.
A-Ha LINKS
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Web
www.ahareep.com
Facebook
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YouTube
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