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.

 

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