#OnlineLearning

Jun 23
1 min

What is a Buydown?

A buydown happens when the borrower purchases a lower interest rate by paying a premium called a “point.” If you expect to increase your earnings in the future but want a lower payment now, a buydown may be a helpful option. Considering real estate as a career? Our upcoming real estate pre-licensing courses are filling up fast so make sure to secure your seat here: tocrres.com/register #RealEstate #NewCareer #OnlineLearning

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TOCR Real Estate School

Jun 22
1 min

What is an Appraisal?

An appraisal is required to gather the estimated value of a piece of real estate. During the home sale, the mortgage lender sends out an appraiser to get a professional opinion of the value of the property. This helps the lender decide if the property is worth the amount of the loan the potential buyer is seeking. Considering real estate as a career? View our upcoming classes here tocrres.com/register #RealEstate #NewCareer #OnlineLearning

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TOCR Real Estate School

Jun 21
1 min

What are Closing Costs?

The fees associated with finalizing a real estate transaction. Both the buyer and seller will have expenses during the closing process. Closing costs normally include an application fee, inspection fees, homeowner’s insurance, property taxes and the agents’ commission. Considering a career in real estate? Check out our upcoming courses here: tocrres.com/register #RealEstate #NewCareer #OnlineLearning

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TOCR Real Estate School

Jun 20
1 min

What is an Active Contingent?

When a seller accepts an offer from a buyer, that offer is contingent upon the buyer’s ability to meet certain conditions before finalization of the sale. Contingencies might include the buyer selling their home, receiving mortgage approval, or reaching an agreement with the seller on the home inspection. Considering real estate as a career? View our upcoming classes here: tocrres.com/register #RealEstate #NewCareer #OnlineLearning

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TOCR Real Estate School

Jun 17
1 min

What is a Letter of Intent?

Before buying a home, one of the things that might be required in order to obtain financing is a letter of intent. This is a document that states the buyer's intent to purchase a particular piece of property. It is used to justify a real estate contract and often accompanies the deposit of earnest money. View our upcoming real estate pre-licensing courses here: tocrres.com/register #RealEstate #NewCareer #OnlineLearning

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TOCR Real Estate School

Jun 16
1 min

What is a Chain of Title?

A chain of title is a document containing all previous property owners, listed in chronological order from the first owner to the present owner. Find out more information and register here: tocrres.com/register #RealEstate #NewCareer #OnlineLearning

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TOCR Real Estate School

Jun 10
1 min

Friday Pop Quiz Question

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

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My neighbors fence is on my property. Is it legal?

TOCR Real Estate School

Jun 7
1 min

My neighbors fence is on my property. Is it legal?

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

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TOCR Real Estate School

Jun 3
1 min

Pop Quiz Friday!

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

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TOCR Real Estate School

Jun 1
1 min

What is the NJREC?

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

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TOCR Real Estate School

May 27
1 min

Last Chance! Classes Start Next Week!

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

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TOCR Real Estate School

May 25
1 min

Seller - Buyer Arrangements

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

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Upcoming Class Schedule : Reserve Your Spot Today!

TOCR Real Estate School

May 23
1 min

Upcoming Class Schedule : Reserve Your Spot Today!

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

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What is a sublease and is it legal in New Jersey?

TOCR Real Estate School

May 18
1 min

What is a sublease and is it legal in New Jersey?

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

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TOCR Real Estate School

May 16
1 min

What is Escrow in Real Estate?

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

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TOCR Real Estate School

May 13
1 min

Google Review!

Sonya, thank you for your Google Review! Our upcoming real estate pre-licensing courses are filling up fast! Make sure to secure your seat at tocrres.com/register ! #RealEstate #NewCareer #OnlineLearning

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TOCR Real Estate School

May 11
1 min

Why is a survey important?

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

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TOCR Real Estate School

May 5
1 min

Don't Miss Out!

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

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What Does It Mean When A Property Is Listed "As Is"?

TOCR Real Estate School

May 4
1 min

What Does It Mean When A Property Is Listed "As Is"?

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

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TOCR Real Estate School

May 2
1 min

What is a Chain of Title?

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

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