Superior School of Real Estate Study guides, Class notes & Summaries

Which of the following would create legally binding acceptance of a written offer? -The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 2750 square feet. The estimated value of 450 additional square feet is $22,500. The broker should... -Add $22,500 to the sales price of the comparable property. An option to purchase has been ...

Superior 303 NC Law and Rules Exam Questions and Answers sole proprietor -Answer-Full broker not affiliated with another firm Can not Advertise Can not hire other licensees Can not hold a trust account Would have to become a BIC in order to 'do it all' How long is BIC eligible status valid for? -Answer-12 months must take BIC update instead of general update each year that will renew eligibility to continue being BIC eligible Who is responsible for the advertising? -Answer-BIC Who is ...

SUPERIOR SCHOOL OF REAL ESTATE FINAL EXAM ACTUAL /NEWEST 2024 WITH 130 WELL SORTED QUESTIONS AND ANSWERS /GRADED A+/BEST FOR THAT GOOD GRADE

SUPERIOR SCHOOL OF REAL ESTATE EXAM PROBLEM AREAS ACTUAL /NEWEST 2024 WITH 200 WELL SORTED QUESTIONS AND ANSWERS /GRADED A+/BEST FOR THAT GOOD GRADE

Superior NC Real Estate Important Final Exam QUESTIONS & Revised CORRECT ANSWERS <UPDATED&ALREADYPASSED> RESPA - ANSWER : -Real Estate Settlement Procedures Act: applies ONLY to 1-4 family residential transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) - ANSWER : C. the trustor(s) The trustor is the borrow...

Superior School Of Real Estate Exam QUESTIONS & Revised CORRECT ANSWERS <UPDATED&ALREADYPASSED> Which of the following would create legally binding acceptance of a written offer? - ANSWER : The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 2750 square feet. The estimated value of 450 additional square fe...

All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract rather than order the breaching party to pay monetary damages. Which physical characteristic of land is the basis for the doctrine of specific performance? A. Indestruc...

Which of the following would create legally binding acceptance of a written offer? The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 2750 square feet. The estimated value of 450 additional square feet is $22,500. The broker should... Add $22,500 to the sales price of the comparable property. An option to purchase has been...

Bill of Sale Investment used to transfer the ownership of personal property to real property Chattel Another name for personal property (Movables, which are not annexed to or part of, the land; also referred to as chattels.) Closing The event at which the real estate contract is finally performed. (quizlet) Free Market An economic system in which prices and wages are determined by unrestricted competition between businesses, without government regulation or fear of monopolies. (quizlet)...

Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D. Neither I nor II D. Neither I nor II Under the general principles of agency, when a licensee is acting on behalf of...

if you get compensation you need ______ a license Forms of compensation - gift card - money - free rent -ipad -concert tickets -etc. What are activies that require you to have a license (LLBEANS) List Lease Buy Exchange Auction Negotiate Sell What activies exempt you from needing a license (STAPLES) Self Trustor Apprasier Power of attorney Lawyer Executor Salaried employees (W2) Practicing real esate without a license is what Felony Salary is an exemption f...

Tenements all of the rights and interests that go with the land hereditaments land and all of the tenements that can be inherited appurtenance a right interest of privilege that goes with the land (item in the bundle) accretion a gradual process in which the boundary of riparian land is extended by natural forces reliction the permanent receding of the water which leaves the ground under it dry and exposed erosion a natural process in which the flow or movement of water gradually ...