Episode 109 - Real Estate Exam Questions: Closing the Transaction
Going through state exam questions to help real estate students pass their state exam.
Happy New Year!
3 Year Anniversary of A-Ha! REEP. YAY!!!
Don’t be entitled in life, in real estate, or with me. Ha ha!!
List of recent grads: Joseph, Alejandro, Madiera, Tylar, Travis, Douglas, Zack, Christi, Alan, Patricia, Devon, Trudy, Rhonda, Wanda, Daniella, Cecilia, Maisy, Lena, Ruth, Melody, Sadie, Ryan, Tomeka, Scott, Christina, Chris, Jessica, Jeffery, and Hayley.
Listener messages: Jeffrey from Indiana and Hayley from Upstate New York
Closing events and types
Conducting the closing
RESPA – Real Estate Settlement and Procedures Act
ABA – Affiliated Business Arrangement
TRID – TILA RESPA Integrated Disclosure rule; Truth in Lending
Loan Estimate and Closing Disclosure forms
Kickbacks, referral fees, and rebates
Debit and Credit
Prepaid and Accrued expense prorations
Banker’s Year vs. Actual calendar days
Math
Transfer stamps, excise tax, revenue stamps, deed tax, etc.
Exam Questions
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