Dee Kumar Real Estate

Real estate exam question (day 30).

This explains why the sales comparison approach is the best valuation method for one-family residential homes in real estate exam prep.

It covers how appraisers use recent comparable sales and make adjustments based on condition, features, size, and updates, and notes that some jurisdictions also refer to it as the market data approach.

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Real estate exam question (day 29).

This explains novation for real estate exam prep.

It covers how novation replaces an existing contract with an entirely new agreement, releases the original parties from prior obligations, and briefly mentions 3 related contract terms: amendments, addendums, and rescission.

This is a common real estate exam question.

Radon is an odorless, colorless, naturally occurring radioactive gas that can build up in basements and lower levels, and briefly mentions testing, mitigation systems, and other hazards like mold, asbestos, carbon monoxide, and lead paint.

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Here's how to calculate the cost of one mortgage point for the real estate exam.

Using a $500,000 purchase price with 20% down, this is how you find the $400,000 loan amount and why one point equals $4,000 based on the loan amount, not the purchase price.

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This explains which protected class was added to the Fair Housing Act in 1988 for real estate exam prep.

I also explain why familial status is the correct answer, noting that two classes were added in 1988, and review the 7 federally protected classes, noting that states may add more protections.

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Day 25 of the real estate exam question of the day.

The fiduciary duty of obedience means an agent must follow all lawful client instructions.

This is one you need to know for the real estate exam. Save this for later!

Day 24 of the real estate exam question of the day.

In a bilateral contract, both parties make legally binding promises to perform.

Save this one because contracts show up a lot on the exam!

30,000 STRONG! 🎉 Dee Kumar from YouTube here, and I just had to take a moment to celebrate and say thank you! Kate Tofuri and I started our channel to make sure nobody has to stress through the real estate exam alone. And now 30,000 OF YOU are studying, passing, and starting incredible careers. That’s unreal.

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Day 23 of the real estate exam question of the day: A borrower pays off their loan early and gets charged a fee. What’s it called?

The answer is prepayment penalty.

Don’t mix this up with liquidated damages or specific performance because those are contract remedies.

Save this for later if you’re studying for the real estate exam!

Day 22 of the real estate exam question of the day: Which type of agency is limited to one specific task or transaction?

The answer is special agency.

Think one client, one transaction, then the agency relationship ends.

Save this for later if you’re studying for the real estate exam!