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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