Real Estate License Exams For Dummies
John A. Yoegel
Your ticket to passing the real estate license exam
As the housing market begins to recover, jobs are becoming available in the real estate sector and hard-working, competitive people are taking them. Real Estate License Exams For Dummies gives you the information you need to pass the exam and join the ranks as a professional real estate agent.
In order to become a real estate agent, you must pass the real estate licensing exam. This fully updated and revised edition of Real Estate License Exams For Dummies provides the latest and most up-to-date information on contracts, deeds, appraisals, leasing, and mortgage types, as well as new real estate law for all 50 states.
- Includes four practice tests with detailed answer keys that explain the concepts behind each answer
- Offers proven test-taking strategies and study techniques
- Subject reviews cover all real estate exam test topics, plus sample practice questions throughout
If you're looking to start a career in real estate, turn to the trusted guidance and test-prep help in Real Estate License Exams For Dummies.
reap 100 percent profit on each of the buildings and make a total of $500,000. Investors generally want to invest as little of their own money as possible and, of course, make the most profit in the shortest time. Make sure you can handle a math question calculating basic leverage (as shown in this section’s examples) and understand that leveraging is the concept of using borrowed money to extend the impact of your own cash investment. Pyramiding: Not just for the pharaohs Pyramiding is
in value, cash or personal property sometimes is included in the deal. This cash is called boot. The person receiving it owes taxes on the boot. By the Numbers: Analyzing Investment Properties As a real estate agent, you’ll be called upon to provide information to investors about investment properties. Building condition, maintenance issues, and location issues are important in any real estate purchase, but much of the information in a real estate investment is about income and expenses for the
and loving wife, Marina. Throughout this book she was there every day, scheduling things around my writing schedule and taking care of what needed to be taken care of as I wrote. I owe her at least one vacation that she canceled and much more. Thanks, honey, for being my biggest fan. I love you. Author’s Acknowledgments No book ever is written alone. Even if it’s a work of pure fiction that comes straight from an author’s imagination, other people still must inspire that imagination, teach the
couple. (A) He is breaking the law under the 1968 Federal Fair Housing Act. (B) He is breaking the law under the 1866 Civil Rights Act. (C) He is breaking no law as long as he doesn’t use a real estate agent or discriminatory advertising. (D) He is breaking no law as long as he owns fewer than three houses and this is the only one he sells in two years. Correct answer: (B). (B) is correct because race was eliminated as an allowable exception by a court case that upheld the 1866 law. (A) is
and therefore they don’t provide consistency over time. The maps sometimes contain property sizes and general boundary measurements but don’t usually have detailed boundary descriptions of the likes that a metes and bounds description provides. (For more about tax assessment, see Chapter 16.) Getting Closure: Title Closing Title closing is a point in time during a real estate transaction when all of the business of transferring ownership of a piece of property is finished and title to the