Dee Kumar Real Estate

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.

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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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!

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