Episode 078 - Real Estate Exam Questions 32

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