The rectangular survey system divides land into townships, ranges, and sections using a grid based on principal meridians. Learn how it works and what to expect on the real estate license exam.
The income capitalization approach estimates property value based on the income it generates using cap rate or GRM formulas. Learn how it works and what to expect on the real estate license exam.
Steering, blockbusting, and redlining are the 3 most common Fair Housing Act violations. Learn the definitions, examples, and what to expect on the real estate license exam.
Prorations divide shared expenses like property taxes and rent between buyer and seller at closing. Learn how to calculate prorations and what to expect on the real estate license exam.
The sales comparison approach estimates property value by comparing recently sold comparable properties. Learn how adjustments work and what to expect on the real estate license exam.
A contingency clause in real estate is a condition that must be met before a contract becomes binding. Learn how contingencies work, common types, and what to expect on the real estate license exam.