Learn All The Topics On The National Real Estate Exam
Property Ownership
Land Use Controls And Regulations
Valuation And Market Analysis
Financing
General Principles Of Agency
Property Disclosures
Contracts
Leasing And Property Management
Transfer Of Title
Practice Of Real Estate
Real Estate Calculations
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The Key To Passing The National Exam Is Understanding The Topic Areas
Saturday's Free Key Points
Key Point's are important bullet points that relate to National exam topic areas.
Property Ownership | Space Is Divided Into Its Gross and Net Area. |
Land Use Controls And Regulations | Violation of a Condition can result in the loss of title. |
Valuation And Market Analysis | Principle of Substitution is the basis for the comparison market data. |
Financing | Annual Percentage Rate (APR) is the total cost of borrowing money, expressed as an annual percentage. Required by Truth In Lending Act (TILA). |
General Principles Of Agency | Exclusive Agency / Sellers Reserved Listing Agreements allow the listing agent has the exclusive right to represent the seller, but the seller reserves the right to find their own buyer. If the seller finds a buyer they do not have to pay a commission to the listing agent. |
Property Disclosures | If there are concerns about the property's zoning or land use, it may be necessary to have a surveyor or land use attorney review the property's legal status. |
Contracts | Once the offer is accepted, a binding contract is formed and both parties are obligated to fulfill the terms of the contract. Both parties are bound to the terms of the contract and can face legal consequences for failing to fulfill their obligations. |
Leasing And Property Management | The lease should specify the amount of the security deposit required, the conditions under which it may be withheld, and the procedures for returning it. |
Transfer Of Title | If a deed is executed by a minor, or if the grantor is mentally incompetent, title transfer may be voidable, but is not void. |
Practice Of Real Estate | Customers may be contacted up to 3 months after the last contact. If the customer or client asks the agent to not call them, they must stop, even if there was an established business relationship. |
Real Estate Calculations | Each discount point generally costs 1% of the total loan amount, and can lower the interest rate by a certain percentage, usually 0.25%. |