Massachusetts Real Estate Test Basics
PSI offers the test most days of the week both online so that you can take the test from home, and at several in person testing centers across the state, including test centers located in Boston, Auburn, Fall River, Lawrence, and West Springfield.
Can I take my real estate exam online in Massachusetts?
Testing can now be done in one of the 5 testing centers across the state or online. To take the test online there are a number of requirements (that are still evolving) such as the need to have a working camera and microphone. You also need to be in a room that does not allow for any distractions.
How hard is it to pass the real estate exam in Massachusetts?
The passing rate for the Massachusetts Real Estate Salesperson Exam is 70%. This test is purposefully difficult, but not impossible. Be sure to pay attention during your pre-license course and take studying seriously. If you put the proper effort forth, we know that you can pass on your first attempt!
How long do you have to take real estate exam after course in Massachusetts?
Within two years
The Massachusetts real estate license exam MUST be taken within two years of completing the pre-licensure class otherwise you will have to complete the course again. You must score at least 70% to pass and you will find out immediately after completing the exam (at the testing center) whether you passed or failed.
How much is the MA real estate exam?
$60
When you graduate from an accredited real estate school, you must apply to take the state exam. A real estate exam application fee is the cost to schedule your exam. In the state of California, this cost is $60. This fee will vary from state-to-state.
What is the most common contingency in real estate?
Home inspection contingency
Home inspection contingencies are one of the most common home buying contingencies. According to NAR, around 80% of homebuyers include a home inspection contingency in their purchase agreement. Home inspection contingencies are one of the most common home buying contingencies.
I just came from the House Floor, where I spoke in opposition to expanding the HDIP program, which offers a public subsidy to for-profit real estate developers who build market-rate housing in Gateway Cities.
— Mike Connolly (@MikeConnollyMA) July 13, 2023
I have tremendous respect for our Gateway Cities legislators who are… pic.twitter.com/64lBPSYt7A
What are good contingencies when putting an offer on a home?
The Top 9 Contingencies to Consider in Your Offer When Buying a...
- 1) Home inspection contingency.
- 2) Appraisal contingency.
- 3) Financing contingency.
- 4) Home sale contingency.
- 5) Clear title contingency.
- 6) Kick-out contingency.
- 7) Home insurance contingency.
- 8) Homeowners association (HOA) contingency.
Frequently Asked Questions
What is typical contingency?
Contingency plans typically include insurance policies that cover losses that may arise during and after a negative event. However, insurance policies may not cover all of the costs or every scenario.
What are examples of real estate contingencies?
Some of the most common real estate contingencies include appraisal, mortgage, title and home inspection contingencies. Many home buyers also include a sale of prior home contingency, which allows them to withdraw an offer if they are unable to sell their current home within a specified timeframe.
Can a seller accept another offer while contingent?
Contingency with a kick-out clause
That means the seller can continue to show the home and accept offers during the sale contingency period. If the seller gets a better offer, they'll allow the original buyer 72 hours to drop the sale contingency and proceed with the deal.
FAQ
- Who benefits from a contingency in real estate?
- Key Takeaways. Home sale contingencies are clauses in a real estate sales contract that protect buyers who want to sell one home before purchasing another. If the buyer's house sells by a certain date, the sale moves forward—if not, a buyer can walk away.
- Do contingencies protect the buyer or seller?
- Contingencies are often used to protect the buyer from problematic home listings or unforeseen issues within the real estate transaction.
- What is an example of a contingency in real estate?
- Some of the most common real estate contingencies include appraisal, mortgage, title and home inspection contingencies. Many home buyers also include a sale of prior home contingency, which allows them to withdraw an offer if they are unable to sell their current home within a specified timeframe.
Where to take the real estate exam in massachusetts
| What is the common contingency clause? | The contingency clause gives a party to a contract the right to renegotiate or cancel the deal if specific circumstances turn out to be unsatisfactory. An appraisal contingency gives the buyer the right to back out if a professional property appraisal comes in lower than a specified minimum. |
| What is an example of a contingency contract? | For example, many parents object to paying their children to go to school, a task they should be doing anyway. To address this, a contract may specify that a child must attend school to earn the opportunity to complete chores at home for which he or she is paid (i.e., a two-part reinforcement contingency). |
| What are the three major parts of a contingency contract? | There are three major parts to a contingency contract: (a) task or behavior, (b) reward, and (c) progress monitoring. Contingency contracts can be successful because they provide a clear if-then statement and students are able to obtain reinforcement. |
- What are examples of contingencies?
- What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.
- What contingencies should you put in an offer?
- 6 common contingencies
- Mortgage contingency. This clause specifies a window of time in which the buyer must obtain financing to purchase the home.
- Title contingency.
- Home inspection contingency.
- Sale of a prior home contingency.
- Appraisal contingency.
- Homeowners insurance contingency.
- 6 common contingencies
- Can you put an offer on a house that is contingent?
- If you're interested in a property that's listed with an active contingent status, you may still be able to make an offer. While the initial offer will take precedence if all the contingencies are satisfied, making an offer can put you at the head of the line if the original deal falls through.
