Last Update: April 3, 2022
Real Estate Contract Guide
To make a real estate transaction valid in real estate all parties must sign a legally binding contract, and something of value must be exchanged. There are four main elements of a valid real estate contract: The party must be the legal age of 18 or older and deemed legally competent. The contract must be legal or hold a legal purpose.
Actived: 7 days ago
Real Estate Terms: The Ultimate Guide
(4 days ago) Real Estate Terms That Start With E. Easement – An easement is a right held by one person to use the land of another for a specific purpose, such as driving through someone else’s property. Easement for ingress and egress – An easement used for entering and exiting a property. Egress – The right to exit a property.
Real Estate Economics
(8 days ago) Real Estate Economics. November 10, 2020 Zackary Smigel Definitions. Real estate economics is the application of economic techniques on real estate markets. The primary purpose of real estate economics is to explain and predict prices utilizing supply and demand. Mastering real estate economics can help real estate agents, investors, and more.
Real Estate Math Guide + Printable Real Estate Math …
(3 days ago) Real estate math is by no means difficult, but practice is needed to be able to apply the concepts correctly. Trust me, I understand. Math, in general, can be frightening, but real estate math is one of those things that, after a nice amount of practice, becomes much easier. And yes, you can use a calculator on the real estate exam in most states!
The Basic Elements of a Valid Real Estate Contract
(3 days ago) A real estate contract is valid when all requirements are met and the documents are signed. The timing or point of validity depends on the circumstance as well as the contract. There are various types of contracts in real estate, such as unilateral, bilateral, and implied. The different types of contracts usually determine at what point the
Top 15 Tips for Passing the Real Estate Exam
(8 days ago) Real estate prep courses are refined and focus on one thing, making sure you pass the exam. 3 Real Estate Exam Tips for the Day of 1. Get Your Affairs in Order. Find out where the exam is and when it is, so you can arrive early. Have your car filled up with gas. Basically, get all the preparation you can do done beforehand.
Real Estate Math Cheat Sheet Real Estate Math Terms
(9 days ago) Property tax – Property tax is a real estate ad-valorem tax, calculated by local government, which is paid by the owner of the property. The tax is usually based on the value of the owned property. Principal - The amount borrowed (such as the face value of a debt security).
Real Estate Textbooks
(8 days ago) Zackary Smigel is a real estate professional with a love for teaching, based out of Pittsburgh, PA. He's had the opportunity to work with some of the brightest minds in real estate and has spent years learning how to become a successful agent.
Real Estate Exam Study Group Recommendations
(6 days ago) Real Estate Exam Study Group Recommendations. September 21, 2021 Zackary Smigel Shorts. Today we are talking about finding virtual real estate exam study groups. Someplace to ask exam related questions, discuss the …
Real Estate Exam Prep Videos
(5 days ago) Real Estate Exam Concepts Playlist; Real Estate Exam Vocabulary. One of the most essential parts of the real estate exam is the vocabulary. Watch these videos to review critical real estate terms that will appear on the real estate exam. This playlist covers 255 real estate vocab terms. Real Estate Exam Vocabulary Part One
Free Real Estate Math Exam (2022)
(6 days ago) Free Real Estate Math Exam (2022) Math Exam. Need a prep course? Purchase here! Question 1 of 30. A property's market value is $400,000. The assessment rate for the house is 25% with 22.75 mills and a $30,000 property tax deduction. Find the annual property taxes. $1,995.75.
15 Non-Traditional Real Estate Careers
(2 days ago) A real estate appraiser is somebody that is hired to determine the market value of a property. A real estate appraiser is crucial to the real estate business, and becoming one can be somewhat tricky. Real estate appraisers take a lot of things into consideration and must be well versed in the local market.
Cost Approach in Real Estate
(Just Now) Remember, the cost approach is a real estate appraisal method that determines how much a property would cost to replace it, subtracting depreciation. The cost approach is considered reliable when used on newer buildings and not reliable with older buildings. The formula is: Replacement cost (cost new) – depreciation + land value = total value.
Pur Autre Vie in Real Estate
(Just Now) Reversion in real estate is the return of property or assets to their original owner after a specific action or amount of time. Remainder. A remainder in real estate is a future interest in ownership. It is the right to own and possess the land after the fixed interest of current holder expires.
Real Estate Exam Questions Explained (100+)
(3 days ago) I am pleased to announce the public release of our brand new real estate exam explained series. If you are struggling with real estate exam questions, look no further. In this 3 part series, I go through ALL current questions featured on our real estate practice exam. Our newest series is designed with one main thing in mind: simplification.
What You Need to Know about Commingling in Real Estate
(8 days ago) In real estate investing, commingled real estate funds are funds managers mixed from many sources to invest. With the provided funds, the fund purchases and administers properties directly. Value-add and opportunity funds, both of which pursue high-yield objectives, are subsets of commingled funds.
Debits and Credits in Real Estate
(5 days ago) The most common debit and credit real estate example is when a buyer puts down an earnest deposit. An earnest deposit or earnest money is a deposit made to a seller representing a buyer’s good faith to buy a home. At closing, buyers will be credited for this in the form of a credit. Here are some other debit and credit real estate examples.
Real Estate Novation
(7 days ago) In real estate, novation is commonly utilized to transfer complex property leases and other comparable situations. Novation is frequently employed in one of two situations. It can be used to replace one party in a contract or agreement with another, or it can be used to replace previous terms or contracts with new ones.
Option Contracts in Real Estate
(3 days ago) A real estate option contract is a one-of-a-kind contract that is solely between the seller and the buyer. In this arrangement, the seller gives the buyer the option to purchase property at a given price for a set period. Once a buyer has exercised their option to purchase a property, the seller cannot sell it to anybody else.
Free Real Estate Pennsylvania Exam (2022)
(4 days ago) Free Real Estate Pennsylvania Exam (2022) Pennsylvania Exam. Need a prep course? Purchase here! Question 1 of 30. What is the maximum penalty that could be imposed on an individual found guilty for their first time of engaging in the real estate business without a license? Fine of $5,000 and imprisonment for a period of two years. Fine of $500
What Makes a Valid, Void, and Voidable Contract
(Just Now) Most real estate sales contracts include contingency clauses, making them voidable. Here are some characteristics that may cause a contract to be voidable: One or both parties, change their mind about the agreement. One party was duped, pressured, or misled into signing the contract and uses their right to challenge its legality.
Real Estate Appraisal
(8 days ago) Real estate appraisals are performed by an appraiser that is not associated with the lender. The appraiser is intended to be unbiased when it comes to the property, and should not be connected financially or otherwise to any party. In order to become an appraiser, you must meet several qualifications.
Real Estate License Reciprocity and Portability Guide
(8 days ago) Definition: Real estate license portability is an agreement states have with one another allowing out-of-state real estate agents to engage in real estate transactions in their state. There are three different kinds of portability laws: …
Market Data Approach for Real Estate Professionals
(7 days ago) For the real estate exam, it is essential to understand the fair market value of properties and how that is determined. Remember, appraisers use three different approaches, and the market data approach is the most common. This approach involves comparing a property to other recently sold properties in the same area of similar size and condition.
What is an Easement in Gross
(5 days ago) An easement is a legally enforceable right to use someone else’s land for a set amount of time in real estate. There are three main sorts of easements in real estate law: appurtenant easements, personal easements in gross, and commercial easements in gross.
How to Become a Real Estate Agent in Your State
(4 days ago) Real estate license requirements vary from state to state and often change. Read the general requirements applicable to all states and then select your state below for specific requirements. State requirements change ofte n so we attempt to keep this page as up to date as possible. If you catch something that needs updated, please let us know.
Implied Contracts in Real Estate
(4 days ago) In some jurisdictions, real estate contracts may not be formed on an implied-in-fact basis, necessitating a written agreement. Implied-in-Law. Implied-in-law contracts, sometimes known as quasi-contracts, are the final option for judges faced with a scenario in which one party is using the other. This approach is used by courts to reward