A-Ha! Real Estate Exam Prep Podcast: Recent Episodes
Brian C. Lee
The A-Ha! Real Estate Education Podcast is all about helping real estate students get tips, strategies, and secrets they'll need to know to pass their real estate class and state exam.
By interviewing guests, discussing test questions, and going through specific real estate topics, each listener will walk away with a better understanding of what's needed to pass that pesky real estate class and state exam! Listeners might even get a little motivation to navigate the sometimes-discouraging experience of real estate education.
Brian Lee--acclaimed real estate instructor, broker, and appraiser--leads the A-Ha! Podcast. Brian earned his bachelor’s degree in Finance and Real Estate from the greatest college on earth, Indiana University. He regularly uses his 25 years of experience in various areas real estate to raise the level of education for agents.
Brian’s knowledge and experience takes him across the globe to train on real estate topics, including appraisal, agency, brokerage, business operations, taxation, contracts, investing, and the dreaded "real estate math".
When Brian isn’t busy behind a microphone or in front of an audience, he keeps his wife and children happy with culinary skills and bad dad jokes.
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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/
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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
info@ahareep.com
Web
www.ahareep.com
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.
Episode 064 - State Exam Questions 18
Going through state exam questions to help real estate students pass their state exam.
04:20 – What is equitable title?
08:17 – Can non-agents receive a referral fee?
11:02 – What type of lien takes priority or is superior to other liens?
14:08 – Which approach to value would one use to value a government property?
17:13 – When using the sales comparison approach to value, what is adjusted and how?
22:20 – When does the ownership transfer from seller to buyer? When does is the actual title transfer from grantor to grantee?
26:11 – What is subagency?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 063 - State Exam Questions 17
Going through more exam questions to help real estate students pass their state exam.
05:08 – What does a property manager do?
07:40 – What clause makes a mortgage unassumable?
12:20 – A broker owes a customer what?
15:55 – What is an 80-10-10 piggyback mortgage and how does it affect a borrower?
20:10 – What is the principal in the loan?
23:30 – What liability does an agent have when incorrectly completing a CMA (comparative market analysis)?
27:08 – What advise should an agent offer to a client regarding how to take title to a property?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 062 - State Exam Questions 16
Going through more exam questions to help real estate students pass their state exam.
03:58 – Two contracts have been accepted by a seller. What happens when the first buyer wants repairs?
08:28 – How should an agent advise a client regarding property insurance?
10:10 – What can an agent disclose regarding the seller’s motivation?
12:35 – What is specific performance?
14:20 – Who is entitled to a commission in an open listing?
17:34 – What is the primary purpose of zoning laws?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 061 - State Exam Questions 15
Going through more exam questions to help real estate students pass their state exam.
03:10 – How can students get help with state specific questions?
05:40 – What duties does an agent have with a seller? Watch who is the selling agent. It is the buyer’s agent.
08:55 – What to do when a promissory note is provided as earnest money?
011:25 – Who is responsible if an agent, who is working for a broker, is alleged of illegal conduct?
14:25 – What is required when a broker is also an owner of a title company?
16:08 – What happens with verbal commitments, even when involving a tenant occupied property?
19:20 – How to calculate discount points. $125,000 x 80% = $100,000 x 2% = $2,000.
23:20 – What is required when an existing home does not meet current building code?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 060 - State Exam Questions 14
Going through more exam questions to help real estate students pass their state exam.
02:05 – When is earnest money required and what is consideration? Watch the word “must”.
05:35 – Water front property and what can a listing agent advertise? Watch the disclosure issues..
08:25 – What time period must a person file a complaint for a fair housing issue?
09:25 – What happens to a listing contract when everyone in a corporation dies?
12:40 – What disclosures are required when a property is being sold “as-is”.
15:30 – Email for study guides and math formula sheets.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 059 - State Exam Questions 13
Going through more exam questions to help real estate students pass their state exam.
01:10 – Congrats to Allie out of Arizona!
03:40 – How to make adjustments to value property.
07:05 – Fiduciary duties of an agent when listing a home.
10:25 – When is an adjustable rate mortgage (ARM) not a good idea for a borrower?
14:20 – What is the best means to eliminate a cloud on the title?
16:25 – What is a typial responsibility of a property manager?
18:20 – Calculating property taxes. 1 mill = 1/1,000; example: 30 mills / 1,000 = 3% tax rate. Use the assessed value.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 058 - State Exam Questions 12
Going through more exam questions to help real estate students pass their state exam.
01:45 – What is depreciation?
05:12 – How does a life estate work? Daughter owns a property pur autre vie with her mother. What happens when the daughter passes before the mother?
07:42 – Capital gains exclusion rule. $250,000/$500,000 capital gain exclusion for any owner occupant if they occupied the home as their personal residence for 2 of the past 5 years.
11:38 – What qualifies as a fixture? Are ceiling fans a trade fixture even if they were not in the contract to stay?
14:10 – Disclosure of property defects even if a report says something different. Does the seller have to disclose a defect, even if it doesn’t present as an issue often?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 057 - Exam Questions 11
Going through more exam questions to help real estate students pass their state exam.
03:30 – Joint Tenancy with the right of survivorship. Avoid paying debt of decedent.
06:15 – Contract does not include appliances because the agent forgot to include it. Who is liable? Will the buyer get the appliances?
09:50 – What is required to receive a referall from an out-of-state agent?
12:05 – What type of deed will a buyer receive from the bank when the bank received the property due to foreclosure?
14:30 – Can lender change loan terms and force the buyer to sign the loan documents at the closing table so they can get the loan and buy the house?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 056 - Exam Questions 10
Going through more exam questions to help real estate students pass their state exam.
02:10 – Appliances were not included in the contract. Who is at fault when the appliances are not left?
04:58 – What is considered predatory lending?
09:30 – Offeree wants more time to respond to an offer from an offeror. What can be done?
13:10 – Seller is blind. How does the agent handle the seller’s disclosure?
15:55 – $200,000 purchase price, $40,000 down payment, lender charges 4% in discount points. How much do the discount points cost the borrower?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 055 - Exam Questions 9
Going through more exam questions to help real estate students pass their state exam.
01:00 – Landlord vs. Tenant; Lessor vs. Lessee; Leased Fee Interest vs. Leasehold interest
06:50 – Can and how may an agent receive a bonus from a client?
09:55 – What responsiblities does an agent have for a client that is created by implied agency? Inspection due diligence.
15:20 – May you call a consumer that is on the Do Not Call List?
17:40 – How do you handle a client that owns the property in a trust on a property with noise and construction issues?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 054 - Exam Questions 8
Going through more exam questions to help real estate students pass their state exam.
01:55 – When is the best time to file a lien to delay closing?
07:00 – Dry cleaner and environmental disclosure.
10:25 – What change would cause a new 3 day disclosure from the lender?
13:10 – What is requirement for broker that works from home?
14:50 – Broker is out of town; broker must do what when an offer is received for client?
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 053 - Exam Questions 7 from Listener Racquel
Listen Racquel chimed in with several topics that she saw on the exam.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 052 - Exam Questions 6
Breaking down exam questions to help real estate students pass the state exam.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 051 - Exam Questions 5
Breaking down exam questions to help real estate students pass the state exam.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 050 - Exam Questions 4
This is our “golden” episode number 50. Yay!
Going through more exam questions to help real estate students pass their state exam.
SHOW NOTES
- 04:30 – Question: broker guaranteeing profit.
- 08:35 – Question: client or customer.
- 11:20 – Question: statute of frauds.
- 13:30 – Question: easement by prescription.
- 16:35 – Question: disposition of earnest money.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 049 - Exam Questions 3
Round 3 of exam questions.
If you have any questions or topics, make sure to let us know!
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 048 - Fair Housing Exemptions
Owner Occupied
1 to 4 Unit Residence
Not using a real estate professional
Discriminatory advertising cannot be used
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 047 - Exam Topics 2
Round 2 of exam topics.
If you have any questions or topics, make sure to let us know!
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 046 - 6 and 8 Answer Questions
Those crazy questions with a ridiculous amount of possible answers can really help you. Don’t freak out over them.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 045 - Exam Topics 1
Who is responsible for evicting the tenant?
Electronic signatures
Splitting up a parcel of land
Unilateral contract
Quitclaim deed elements
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 044 - OR vs. EE
The OR has the right, title, or “thing”.
The EE receives the right, title, or “thing”.
Grantor and grantee question.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 043 - 5 Acronyms You Need to Know
DEEP C
MARIA
PETE
PITT
VISE
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 042 - Interview with Lauren Newhouse
Lauren Newhouse is a newly licensed agent and has some fantastic advice and suggestions that helped her to study and pass the exam. She talks about how she choose a broker and even throws in a plug or 10 about how much A-Ha! helped her knock out the state exam.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 041 - RESPA & Closings
Loan Estimate Form
Closing Disclosure Form
Your Home Loan Toolkit
3 days to complete
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 040 - Other Lease Types
Gross
Net
Percentage
Variable: Graduated and Index
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 039 - Rectangular Survey System
Principal Meridian
Baseline
Range line
Township line
Section
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 038 - Customer versus Client
Client – the party the agent is working for
Customer – a party the agent is not working for but is owed some duties.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 037 - Earnest Money and Contingencies
What happens to earnest money when a deal goes bad? What if there is a contingency? Be sure to know how this works.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 036 - Calculating Real Estate Commissions
Be sure to read and answer the question. Also, write down the information, don’t do it in your head or just your calculator. Many questions are answered wrong because you are going too fast. Take your time and you will knock it out.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 035 - Terminating a Contract
How do you make a contract go away or enforce it. You better know this for the exam along with the following terms:
Cancellation
Rescission
Suit for Specific Performance
Breach of Contract
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 034 - Creating a Contract
Make sure to know how a contract is formed along with the following terms:
Offeror
Offeree
Offer
Acceptance
Counteroffer
Rejection
Rescission
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 033 - Types of Listing Agreements
Exclusive Right-To-Sell
Exclusive Agency
Open Listing
Net Listing
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 032 - Antitrust Laws
Brokerage firms cannot collude or conspire to take advantage of consumers. Be sure to know the practices that brokers are not permitted to engage.
Price Fixing
Group Boycotting
Allocation of Markets
Tie-In Agreements
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 031 - Recording and Notice
What happens when a document is placed into public record? Your test will expect that you know. Constructive and Actual Notice.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 030 - Joint Tenancy
Co-Ownership is complicated. Make sure to remember the definitions to “T”. Joint Tenancy, Tenancy in Common, and Tenancy by the Entirety.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 029 - Legal Tests of a Fixture - MARIA
Nothing tests you more on the exam or the real world than this topic. Know what a judge would consider when deciding whether property is real or personal. MARIA: Method, Adaptability, Relationship of parties, Intent of the parties, and Agreement of the parties.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 028 - Factors Affecting Supply and Demand
What affects the supply of real estate and the demand for that real estate? You better know for the exam.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 027 - Environmental Legislation
Brownfields
CERCLA
SARA
ESA – Environmental Phase 1 and Phase 2
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 026 - Types of Liens
Acronym VISE
Voluntary vs. Involuntary
Statutory vs. Equitable
General lien vs. Specific Lien
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 025 - Basics in Valuation of Property
Highest and Best Use
Increasing and Diminishing Returns
Progression and Regression
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 024 - Interest Payment Calculations
Interest Payment Formula:
Loan Amount x Periodic Interest Rate = Periodic Interest Payment
Make sure to use the LOAN amount (not necessarily the purchase price), and watch the interest rate time period and payment schedule.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 023 - Tax Benefits and Deductions
Everyone loves to save money, almost as much as they love passing their real estate exam. Make sure you know about the various deductions and tax benefites available so you can answer those related test questions.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 022 - Mortgage Clauses
No! It is not Christmas, but you do need to know about a few clauses other than Santa. Mortgage terms are plentiful and you need to know about some of the promises when borrowing money.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 021 - Property Management
Not too deep of a dive on this topic, but worthy of a quick listen to make sure you can apply concepts surrounding managing property to your exam questions.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 020 - Fair Housing Definitions
Make sure to memorize the years when various laws were adopted and the terms to watch for on the state exam.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 019 - Prorations
Proration calculations always twists your mind. Don’t let it. To tackle these questions, make sure you understand the basics of them first. Then you can go after the math.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 018 - Leasing Issues - Tenancy at Sufferance and Eviction
No one likes to think about the bad side of leasing, but it happens. For the exam, make sure you know what happens when a tenants stays beyond their welcome, and what remedies the landlord and tenant have if the other is in breach of the lease contract.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 017 - Types of Agency Relationships
As a licensed agent, you will have the ability to take on many roles for various parties. What you are authorized to do will dictate some of that. Know the three types of agency relationships.
Universal
General
Special
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 016 - Creating Agency
There is a smart way and a not-so-smart way to create agency. For your exam, know how agency is created, the parties involved, and what is required.
Express agency
Implied agency
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 015 - Debits and Credits
Closing questions on the national exam can be easy if you are able to track the flow of money. Debits are outflows. Credits are inflows. Listen in for a few ways to keep them straight.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 014 - Types of Leases
Make sure you know the three types of leases, what they provide, and what is required for each.
Estate for Years
Estate from Period to Period
Estate at Will
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 013 - Legal Descriptions
Talk about confusing, do you really need to know how to draw a legal description? Short answer, no. Long answer, probably not, but it’s a good idea to know some of the terms and concepts. Make sure you know the unit conversions though:
1 mile = 5,280 square feet
1 acre = 43,560 square feet
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 012 - Brr...It's COLD-AC; Fiduciary Duties
An agent has certain fiduciary responsibilities to their client that can be represented with the acronym COLD-AC: Care Obedience, Loyalty, Disclosure, Accounting, and Confidentiality.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 011 - How is that Voidable?
One of the more annoying and debatable test subjects is over the concepts of valid, void, and voidable. In this episode, B talks about the differences and what to look for when you take your test. If all else fails, just choose “voidable” on your test and you will almost always be correct.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 010 - Legal Elements of a Contract
Know the 5 elements that make up a legal/valid contract. You can remember them with the acronym VPLCC (Very Precise Lawyers write Clear Contracts): Voluntary, Promise, Legal, Competent parties, and Consideration
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 009 - Tips to Calculate Net to Seller
Math is difficult, but we help you understand how to work through those questions like calculating the net to seller.
SHOW NOTES
Net to seller formula when sale price is known:
Sales Price – Commission Amount – Other Liens, Payoffs, and Costs = Net to Seller
Net to seller formula when the net income is known, but don’t know the sales price:
Sales Price – (100% x Commission Rate) – Other Liens, Payoffs, and Costs = Net to Seller
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 008 - Relationship of Broker to Agent
There are many elements to remember when an agent is working for a broker. We cover several that you will need to know for your exam.
SHOW NOTES
Remember the role of the broker and how the agent must act when working for them. Commissions, contracts, and expectation are a good start.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 007 - Covenants of a General Warranty Deed
The general warranty deed is the best deed a grantor can provide to a grantee. In this episode we explain what the grantor is providing.
SHOW NOTES
General warranty deeds include five covenants and you will need to know what they are:
Covenant of Seisin
Covenant Against Encumbrances
Covenant of Further Assurances
Covenant of Quiet Enjoyment
Covenant of Warranty Forever
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 006 - My Name is PETE (Governmental Controls)
Know the four governmental powers and controls. Easily remembered by using the acronym PETE
SHOW NOTES
The government has certain controls they can exert on property owners to protect the public and serve the greater good. Know the four powers with the acronym PETE.
Police Power
Eminent Domain
Taxation
Escheat
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 005 - Real Property Rights (DEEP C)
Know the acronym DEEP C for the five real property rights.
SHOW NOTES
There are five real property rights you need to know for the exam. They can best be remembered with the acronym DEEP C.
Disposition
Exclusion
Enjoyment
Possession
Control
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 004 - Condominiums
Condominiums have two parts of ownership. Know what they are.
SHOW NOTES
Condominiums include three vital parts you need to know for the state exam.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 003 - Math: The Bane of Your Existence!
There are many four-letter words used in daily life. (Present company included!) Our real estate students use many four-letter words when describing another word...math.
You can’t escape those irritating formulas and calculations, but Brian gives some tips to handle them, all while keeping your sanity. Good luck with that!
SHOW NOTES
- 02:37 – Don’t let the math questions intimidate you. They don’t make up the large part of your exam.
- 03:38 – Some of the math is simple. Don’t make it harder than it is.
- 04:45 – Know the math formulas. Write them down. Not too many of them.
- 05:43 – Know how to create and use the formulas.
- 06:20 – Read the math question. Answer what the question asks.
- 08:20 – Watch for unneeded information from the question.
- 09:05 – Questions are designed to make you think through the concept of the math.
- 09:25 – Don’t take more than a few minutes per math question.
SHOW LINKS
- Real estate math book - https://www.amazon.com/Real-Estate-Math-What-Need/dp/0793168260
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 002 - KNOW the Terms and Definitions
Real estate terms and definitions you learned in class are vital. You'll need to know them forwards and backwards. Knowing them will help you to break down questions, eliminate wrong answers, and enable you to pass the real estate exam.
Brian discusses several ways to remember terms and definitions.
SHOW NOTES
- 01:58 – The questions are tricky and they combine concepts.
- 03:35 – Knowing terms will help you break down the questions and eliminate wrong answers.
- 04:56 – Applying the definitions will help you in answering questions.
- 06:10 – Make flashcards to help you learn the terms and definitions.
- 07:40 – Study the flashcards with someone else.
- 08:10 – Teach someone else the concepts. It helps you make more connections in your brain to remember the terms and definitions.
- 09:50 – You must know the terms.
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 001 - Preparing for the Exam
Preparing for the real estate licensing exam involves so much more than just studying terms and definitions. It takes a multi-faceted approach, including getting your mind and body ready to tackle the stressful situation of taking a test.
In this episode, Brian discusses some ways to align your mind and study habits to enable you to successfully pass your real estate exam.
SHOW NOTES
- 02:30 – Most important thing is to relax. Breathe!
- 05:20 – Schedule your study and prep around the same time you take the exam.
- 06:40 – Eating before your exam can hurt you. Choose wisely.
- 08:10 – Study exam questions in the right frame of reference.
- 10:45 – Know the terms and definitions.
- 11:28 – Rest! Sleep will help so much to get your mind and body ready.
- 12:05 – Ask your test provider for accommodations if you need them.
SHOW LINKS
- Amygdala – https://www.pnas.org/content/109/52/21180
- Karate Kid – https://en.wikipedia.org/wiki/The_Karate_Kid
- Miyagi, “Breathe” – https://www.youtube.com/watch?v=XemAlj9_qKE
- PSI Student Login – https://home.psiexams.com/#/home?bc=inre
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Episode 000 - Intro to A-Ha! Real Estate Exam Prep Podcast
Our intro episode tells you a little about us, who we are, what we do and, ultimately, how we can help you through your real estate classes and exams.
Be sure listen for the secret Promo Code!
SHOW NOTES
- 02:34 – About Brian, your podcast host.
- 06:07 – Podcast layout. Frequency, topics, questions, and tips, tricks, and secrets.
- 08:35 – A-Ha! has many elements to help you pass the exam: video segments, exam questions, terms, definitions, and webinars.
- 10:20 – Promo code: PODCAST for 10% discount.
SHOW LINKS
- Ferris Bueller – https://www.youtube.com/watch?v=KS6f1MKpLGM
- Anyone, Anyone - https://www.youtube.com/watch?v=uhiCFdWeQfA
A-Ha LINKS
info@ahareep.com
Web
www.ahareep.com
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A