Real estate final exam Study guides, Class notes & Summaries

all of the following statements would be true of TRID except? - ANSWER TRID requires a closing disclosure to be provided to the buyer 2 days before the settlement date. which of the following is not required when recording the deed with the county clerks office? - ANSWER two witnesses which of the following was added to the federal fair housing act in 1988 when it was amended? - ANSWER familial status and handicapped calculate the transfer tax that would be owed in Michigan on the sale ...

Gold Coast Real Estate Final Exam Questions and Answers Latest Update 2024 (Graded) Real Estate Brokerage (Ch. 1) - Answer- A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - Answer- concentrating on one type or style of property in one particular area of neighborhood Property Transfer, Valuation & Marketing (Ch. 1) - Answer- areas of expert knowledge that are required for all real estate licensees Residen...

Gold Coast Real Estate Final Exam 2023 Questions and Answers (Verified Answers) What is Farming? - ANSWER-Agent dominates specific area/neighborhood/town Also known as door to door. What are the three areas sales associates must be experts in? - ANSWER-Must be experts in Valuation, Marketing, and Property Transfer

Why do lenders collect reserve funds at the property closing? A) To get a higher yield in their investment B) To be sure money will be available for tax and insurance purposes C) To have extra money that will accrue interest D) To hedge against increases in taxes or insurance premiums - Answer- B) To be sure money will be available for tax and insurance payments The cost recovery period for land improvements is how long? A) 15 years B) 25 years C) 27.5 years D) 30 years - Answer- A)...

Real Estate Principles Final Exam| Questions and Answers, 100% Correct Anything that is fastened or attached to real property permanently is considered to be: Real Property A quit claim deed releases all present claims, rights and title of the: Grantor When a creditor wants to satisfy a judgement which was levied against another person, the creditor would: Obtain a writ of execution Before a mechanics lien is effective it must be: Verified and recorded Discrimination by a real estat...

Azure Tide Real Estate Final Exam Questions & Answers (100% Correct) Azure Tide Real Estate Final Exam Questions & Answers (100% Correct) How is practicing real estate without a license punishable as? - ANSWER- Third degree felony Without written permission, Phillip tells his buyer Tom, that his seller Mark is getting divorced and must sell the property quickly. Phillip is representing both Mark and Tom as a transaction broker. Phillip has violated which agency duty? - ANSWER- Limited con...

Colibri Real Estate (Real Estate Express) Final Exam Review(2023 updated)fully solvedBroker Jane has been accused of a law violation regarding commissions. Which of the following might result in her being found guilty? A) Jane paid a commission to her licensed personal assistant. B) Jane paid a commission to the wife of one of her licensees who was recently killed in an auto accident. The deceased licensee had earned the commission prior to his death. C) Jane paid a commission plus a bonus ...

Champions Real Estate Finance Final Exam With Correct Answers 2024 Loan-to-Value Ratio (LTV) -CORRECT ANSWER-The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage -CORRECT ANSWER-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage -CORRECT ANSWER...

Real Estate Brokerage (Ch. 1) A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) concentrating on one type or style of property in one particular area of neighborhood Property Transfer, Valuation & Marketing (Ch. 1) areas of expert knowledge that are required for all real estate licensees Residential Transaction (Ch. 1) F.S 475 The sale of any improved residential property of 4 units or f...

Florida Real Estate Class Final Exam(question and answers)2023A Business Broker - correct answer Specializes in the sale, purchase or lease of businesses. Is required to have a real estate license and may be licensed as a real estate broker or sales associate Follow-Up is - correct answer Keeping in contact with the new owner after the closing of the sale A builder constructs a house on an owner's lot according to the owner's plans and specifications. This is called - correct answer Cust...