Its that time again! Let's put your real estate knowledge to the test! Which of the following hazards requires a federal disclosure form in a residential purchase? Radon Lead-based paint Formaldehyde Asbestos Answer: 2 Interested in a career as a real estate agent? Visit www.tocrres.com/register to get started today. #RealEstate #NewCareer #Education #OnlineLearning
Encroachment occurs when all or part of a building, fence, driveway, or other installation illegally goes beyond its owner's land and covers adjoining owner's land or a street or alley. A physical check of the land or a survey are frequently used to reveal encroachments. A survey reveals where all improvements on a property are located, as well as if any improvements extend beyond the lot lines. If a building encroaches on a neighbor's property, the neighbor may be able to su
What is the intent of the federal fair housing law? 1. To allow the neighbors to choose buyers based on race and nationality 2. To allow people to buy a home in whatever neighborhood they can afford 3. To ensure that all neighborhoods are integrated 4. To maintain a status quo in most neighborhoods Answer:2 Interested in a career as a real estate agent? Visit www.tocrres.com/register to get started today. #RealEstate #NewCareer #Education #OnlineLearning
The New Jersey Real Estate Commission, a division of the Department of Banking and Insurance, is composed of eight members appointed by the governor. Five are real estate brokers who have been licensed as such for at least 10 years; two are chosen from the general public; and one represents a department of the state government. All members serve three-year terms, except the governmental member, who serves at the pleasure of the governor. The governor has the right to remove a
Last chance to register! Classes will begin on Tuesday due to Memorial Day. Our upcoming real estate pre-licensing courses are filling up fast! Make sure to secure your seat at tocrres.com/register ! #RealEstate #NewCareer #OnlineLearning #Education
There are several different financing arrangements are possible between buyer and seller other than a traditional mortgage. Here are 3 of the more common arrangements. Land contracts and seller financing: The buyer receives a deed to the property but makes agreed-upon payments to the seller rather than a lender until the entire amount is paid, at which point the seller releases a satisfaction of the mortgage lien. Lease-option: The buyers are tenants who have a legally bindin
A sublease is the re-renting of property by an existing tenant to a new third party for a portion of the tenant’s existing lease contract. Subleasing may or may not be allowed under the conditions of the original lease, and it may be subject to extra restrictions as imposed by the jurisdiction. Even if a sublet is permissible, the original tenant is still responsible for the lease agreement's responsibilities, such as monthly rent payment. Interested in a career as a real est
If you've ever been involved in any kind of real estate transaction, you've probably heard the word escrow. By definition, it is a transaction in which a third-party provider holds the funds associated with a real estate transaction until a specified condition is met. You can think of the escrow process in New Jersey as an intermediate step during the home buying process. In a typical transaction, the buyer will make an earnest money deposit to demonstrate to the seller that
A property survey confirms the legal description and boundary lines of a property. It also identifies any other limitations or easements that may be associated with the property. While your property can legally be surveyed at any time, establishing the boundaries of your land is a vital component of the home purchase process. Interested in a career as a real estate agent? Visit www.tocrres.com/register to get started today. #RealEstate #NewCareer #Education #OnlineLearning
The countdown is on! Our next weekday class will begin on May 9th.
Don't miss out on this opportunity to take the first step toward your new career! Seats are filling up! Visit www.tocrres.com/register to get started today. #RealEstate #NewCareer #Education #OnlineLearning
By definition, "As is" signifies that real property is acquired with whatever flaws it may have, and that the grantor is relieved of any obligation to reimburse the purchaser for losses or damages incurred as a result of the condition of the property transmitted. In New Jersey, when a seller signs a sales contract that states "as is," it signifies that the seller intends to transfer (or sell) the property in its current form, including any existing flaws, and will not make an
The history of ownership of a piece of property is referred to as the Chain of Title. Titles are typically registered for land and real estate, personal property (such as a vehicle), or businesses. Normally, titles are registered and maintained with a centralized registry or authority agency. The chain of title follows the history of ownership from the present owner to the original owner. It is critical to keep meticulous and correct title documents in order to establish owne
Our next weekday class will begin on May 9th.
Don't miss your chance to take the first step toward your new career! Seats are filling up fast! Visit www.tocrres.com/register to get started today. #RealEstate #NewCareer #Education #OnlineLearning
Foreclosure is the legal process by which a lender tries to recoup the amount owed on a defaulted loan by seizing and selling the mortgaged property. Default is typically caused when a borrower fails to make a certain amount of monthly payments, but it can also occur when the borrower fails to meet other requirements in the mortgage document. Interested in a career as a real estate agent? Visit www.tocrres.com/register to get started today. #RealEstate #NewCareer #Education #
One of the best parts of being a realtor is helping a client envision their dream home. Even when it sometimes seems impossible.
Could you turn the home in the photo below into someone dream home? What ideas would you have? Interested in a career as a real estate agent? Visit www.tocrres.com/register to get started today. #RealEstate #NewCareer #Education #OnlineLearning
Yes, agents are typically classified under a 1099 worker.
A 1099 worker is someone who is not classified as an "employee." This type of worker is more commonly known as a freelancer, independent contractor, or other self-employed person who completes specific jobs or assignments. They are not paid a salary because they are not considered employees. Instead, the brokerage pays them in accordance with the terms of the agreement in place. Interested in a career as a real estat
Its time for another pop quiz question of the week! Let's see how much you know about Real Estate!
A legally enforceable agreement under which two parties agree to do something for each other is known as a(n) escrow agreement. legal promise. valid contract. option agreement. Answer: 3 Interested in a career as a real estate agent? Visit www.tocrres.com/register to get started today. #RealEstate #NewCareer #Education #OnlineLearning
A multiple listing service (MLS) is a database formed by cooperating real estate brokers to provide information about available properties for sale. An MLS allows brokers to view each other's listings of properties for sale in order to connect homebuyers and sellers. Both the listing and selling brokers gain from this arrangement by streamlining and exchanging information as well as sharing commissions. Interested in a career as a real estate agent? Visit www.tocrres.com/regi