national real estate practice exam quizlet

A seller is closing on the sale of his home on April 23rd. Interpret the company's quick ratio. Paid cash for telephone bill,$190.00. A grantor conveys property by delivering a deed. The surveyor works from a point of beginning, and measures terminal points and angles. After closing they discover that the previous owners had spilled hazardous materials on the land. Prepaid Insurance A zoning ordinance would affect which of the following? Which of the following actions by the agent would NOT be in violation of fair housing laws. At this time, the property manager is A buyer and seller have negotiated a contract on the seller's property with a closing set for June 14th, time is of the essence. Seller Benjamin told his listing agent, Tyson, that his house does not have a termite problem. the duty of confidentiality never expires and the agent must keep that information confidential forever, A metes and bounds description will always. By far, the most substantial chunk of the real estate license exam is the vocabulary. What happens in the secondary mortgage market? |:-----------:|:----------------:|:----------------:|---|:-----------:|:---------------:|:----------------:| Find your state and pick the right real estate exam prep package for you. Received cash from sales,$250.00. An unmarried Texas couple purchased real estate together. Emmy just bought a house. Where does the secondary market get its funds? the contract is voidable at the minor's option. A license holder has just attended a training seminar about technology in real estate and is excited about using social media with her clients. A developer decides to build a commercial property in the middle of a residential subdivision. A property owner receives a notice that his land is in an improvement district. An appraiser is using the Market Data Approach to determine the value of a residential property. He has begun to disassemble his display cabinets and shelves. Miscellaneous Expense What is the difference between an implied contract and an express contract? Find the equivalent earnings if this amount is paid (a) weekly, (b) biweekly, (c) semimonthly, and (d) monthly. Which type of agreement transforms the customer into a client and the broker into a listing agent? Her annual interest rate is 4%. The new stucco leaks and mold grows. Which survey system is most commonly used in urban areas? The zoning committee changes the zoning to R-1. What is the net operating income of the property? When the offeree gives the offeror notice of the acceptance. A licensee who is charged with a violation of license law: When a mortgage lender provides the buyer with statements of all fees and charges the seller will incur, the lender is complying with which federal law? An investor has purchased a one-family home that they plan to rent as an investment. They would like to accept this new offer. Can he advertise this accommodation? What should he do? Mortgage notes made in the primary market are bought and sold. What kind of loan does Mary have? During the term of the listing the seller had disclosed confidential information to the agent. It wants to rent to only Christian tenants. This free practice exam is here to help you master the state-specific portion of the Colorado real estate exam. A seller must keep a copy of the lead paint disclosure he provided to the buyer for, It has been found that mold can develop due to, air tight windows and doors found in newer construction, protect a company's assets if someone is injured on company property, A condo owner's policy will most likely cover the owner if, A condo complex has liability complex has liability insurance. What department of the government oversees the FHA insurance program? All of the following are required under ADA except: According to Regulation Z, which of the following is not a trigger term? the concentration of housing in a residential area. He is selling the house for $179,000. Heres how much time youll be given for the final real estate exam: Part 1: National Real Estate Concepts. Superfund Amendments and Reauthorization Act (SARA). Novation Substituting a new obligation for an old one. increases the amount due from the buyer at closing. If the holder of an easement owns adjacent land and his physical use of the land is benefited by the easement, he is said to have: A sales contract was signed by a minor. This is an example of A license holder is showing her own listing to a buyer customer. Your property borders a non-navigable waterway and you have riparian rights. Yes. The tenant removes their trade fixtures and takes them upon moving out. **Required** Melissa signed a listing agreement with Shane, a local real estate agent. The statute of frauds requires that real estate agreements: Which type of deed includes the five implied warranties (covenants)? Michelle Renda is assistant manager at Barnes and Noble and is paid $42,900 annually. We'd love to hear how you do and what the process was like for you. Which must the property owner obey? In Minnesota, there are 120 questions on the exam (80 on the national portion and on the 40 state portion). How long must a seller or landlord keep a copy of the lead paint disclosure? A title search uncovers a cloud on the title. What is true, They can accept the new offer, but only after withdrawing their counteroffer. A property is bought based on fraudulent statements by the listing broker. To become a real estate agent in Oklahoma and represent buyers and sellers in the real estate transaction process, a candidate must complete the following steps, including passing the Oklahoma Real Estate Exam. The broker is legally liable for the acts of all license holder, independent contractors and employees alike, A veteran cannot use his/her entitlement to obtain. Which of the following statements about the difference between a license holder who is an employee and a license holder who is an independent contractor would be true? Paid cash to owner as withdrawal of equity, $1,400.00. Our expert-written Real Estate practice material covers actual exam topics with fully explained answers. What is the total purchase price? Received cash from sales, $350.00. Utilities Expense Your client is an investor who would like to have the right to purchase a commercial tract for $5 million for the next 6 months. These exam questions are derived from topics such as property ownership, transfer of property, financing, disclosure, and contractscovered in your prelicensing coursework. With the exception of tax liens, how are liens generally prioritized? shiny $+\mathrm{er}=$. What must the property owner do? If the tenant were to die during the lease period, which type of leasehold would pass to the tenant's estate? Bought supplies on account from Supply Mart, $170.00. Login. What did Agent Tyson engage in? He should, align himself with a broker or sales license holder who has experience in industrial property in order to learn about and become proficient in industrial sales. Deficiency B. Delinquency C. Default D. Deferment 3. All but which of the following forms of ownership are recognized in Maryland? Melissa was then contacted by a neighbor who agreed to purchase the house, but Shane still received compensation. Which of the following contracts would be voidable? A seller's property is listed for $399,900. 25. the landlord must provide an assigned reserved space for the tenant near to the tenant's unit. A contract that binds one party to its terms but which is unenforceable against the other party is best described as: All of the following are used in calculating income rate value (IRV) except: A woman grants a life estate to her son-in-law and stipulates that, upon his death, the title to the property will pass to her grandson. At what cap rate did he purchase this property? Mark has an Open Listing on a seller's property. What kind of agreement has this real estate professional signed? The present value of a property is affected by the anticipated income or utility that property will give its property owner. What does this mean? Inflation increases buying power C. Low unemployment rates mean there are fewer available buyers in the market How would the deed identify how they hold their interests if they specify they want them passed to the survivor in case of death? A sales agent had a listing and the property did not sell. National - Real Estate Exam Practice Questions (Se 80 terms MsV12 PSI National Exam for Real Estate 544 terms TashaNichole30 Real Estate Final Exam (150 Questions ) #1 157 terms walter_sarmiento National Real Estate Exam Prep 101 terms kimluck The landlord grants permission. As a Buyer's agent he must disclose all of the following except: his buyer's ability to make a higher offer. A signed employment agreement is necessary to A listing agent would probably not disclose, death on the property due to natural causes. What is unique about an exclusive right-to-sell listing agreement? The property taxes have not been paid for this year. P, Q and R are joint tenants. Which principle of appraisal can explain this? I highly encourage you guys to grab a pencil and paper and follow along. 15. Broker B has signed a Buyer Representation Agreement with his clients. C10. A married couple bought a home ten years ago for $400,000. The tenant has a four year lease on the space. In rental properties, increased demand can be the result of, Which of the following would not be eligible for a VA loan, What is required of a loan servicer before foreclosing on a VA loan, the VA must be notified before the foreclosure. A & B. This is an example of A father gives his son a life estate on a property. The property owner must obey whichever rules are the strictest or most limiting. Wetlands typically contain which of the following? Which of the following is a participant in the secondary mortgage market? $$ Which of the following actions of a broker could jeopardize the independent contractor status of the license holders he sponsors? His heirs inherit the property. The actual exam has 125 questions and 2 hours 30 minutes is given to complete it. She is very excited about the possibilties and hes established Facebook, Twitter, Linkedln and Pinterest acocunts. ** Use the results from part 1 to predict future total costs when sales volume is (*a*) 200,000 units and (*b*) 300,000 units. However, there is a huge crack running down the middle of the living room wall. The real estate exam is mainly multiple-choice and is a mix of problem-solving, math, and vocabulary. PrepAgent offers real estate exam prep for all 50 states. The PHYSICAL characteristics of land are that land is indestructible, non-homogenous, and: Which statement BEST defines the term contingency? Which of the following would be most likely to hire a property manager? What is the difference between replacement cost and market value? Tyson then relays this information to a buyer, citing Benjamin as his source. What is this called? What is FALSE? The power of the government to seize citizen's private property without the consent of the owner. Last week, Mary died. What happens to her real property? The option expires at the end of the month and Mark would like to extend the option. A property owner has installed a chain link fence on his property. A seller has received $225,000 for the sale of his home. A bank refuses to issue mortgages to a historically Black part of town. A sales agent is showing a property. An apartment building owner has renovated and modified several units to be handicapped accessible. Purchase Louisiana real estate Exam Prep today and get ready to pass your test with more confidence and less stress. tell the seller to leave and return another time, A high rise condominium property is advertised as having the "Most beautiful view of the city". A buyer purchases the property and after closing discovers the problems. What type of listing agreement did Melissa and Shane sign? The real estate exam is mainly multiple-choice and is a mix of problem-solving, math, and vocabulary. What is the effect of replacing bad with hot, or dry in sentence two. An example of a voidable contract is a contract that: is made with one party who is not competent. What agreement between the landlord and tenant gave the tenant that right? Here, you can put your knowledge to the test with our 120-question practice exams. This building is a: Which would NOT constitute evidence of title? 5 x-y=-2 Using a 360-day year, how much will the seller owe for the taxes at closing (to the nearest dollar) and how will this be shown on the CD? What is the best way to study for the Real Estate Licensing Exam? What type of loan has a rate linked to an economic index? both the new owners and the previous owners. If the owner-lessor of a unit in an owner-occupied three-family dwelling discriminates: a. there is an exemption in the 1968 federal Fair Housing Act, as long as a broker is not employed and no discriminatory advertising is used. | 3 | 280,000 | 220,000 | | 9 | 80,000 | 64,000 | The nursing home agrees that the rental income produced by the building will pay for the expenses of caring for the women's parents. Hay dos historias mezcladas! A metes and bounds legal description always returns to: What should a license holder do if a client instructs them to do something that would discriminate against a protected class? renting a room in a house occupied by the owner. When measuring gross area the appraiser measures the. What happens to trade fixtures after a business moves out of a leased property? Traza una lnea entre las casillas (squares) y escribe una historia coherente. That section can be used to study the topics featured on those 80 questions. Accounts Payable-Supply Mart They give the tenants notice to vacate. (A front foot refers to frontage and is the width of the lot.) What is the maximum amount of additional long-term obligations this borrower may have after PITI? At the end of the essay, what qualities does Thoreau envision in an ideal "perfect and glorious State"? His lender has provided a very competitive interest rate, however when the investment property is completed and sold the lender will collect the amount borrowed plus a percent of the developer's profits. A building was sold for $260,000, with the purchaser putting 10% down and obtaining a loan for the balance. Which ownership rights can be sold separately from a property's surface rights? \text { Temporary investments } & 1,500 & 1,550 \\ A listing agent is showing his listing to a buyer customer and notices a problem with the exterior of the property that he missed when he listed the property. What is considered evidence against a broker accused of discrimination? Which of the following conveys title to real property and insure good title? Supplies **Instructions:** Paid cash for postage (Miscellaneous Expense), $32.00. How much of that money will they be required to pay capital gains tax on? R2. Ignorance C. Disability D. Retardation 2. The sellers receive another offered for $395,000. The son leases the property. What happens to the property? Police powers include all of the following EXCEPT? What must the salesperson do, obtain the signatures of all owners on the listing agreement. What is true? When the terms of a contract have not yet been fully performed by both parties, the contract is best described as: The Civil Rights Act of 1866 protected the right to fair housing regardless of: Which of these is the best example of stigmatized property? M2. Which of the following statements about an easement is true? There is no one available to sign a quit claim deed to clear up the cloud. A buyer's agent has helped a buyer to find a home. A buyer's agent has accidentally forwarded confidential information about his buyer's financial background to the listing agent. In an express contract, the parties explicitly state the terms and conditions of the agreement, whereas in an implied contract, they do not. This free practice exam is here to help you master the state-specific portion of the Texas Real Estate Practice Exam real estate exam. In Colorado, there are 154 questions on the exam (80 national and 74 state). While showing the property she notices that there is a serious slope to the porch floor. joint tenancy with rights of survivorship, both parties mutually agree to end an agency relationship. The seller is stumbling and smells of alcohol. This is called: The required distance between buildings and a federally protected endangered species wetlands is an example of A couple purchased a condominium. About 1 hour and 20 minutes A listing agent went to inspect a seller's property hoping to list it for sale. Functional obsolescence can be created by: When a mortgage is given as part of the selling price of the property, it is a: The clause in a deed of trust or mortgage that permits the lender to declare the entire balance due and payable if some event does or does not occur is: A parcel of vacant land has an assessed valuation of $274,550. Who must fill out the Seller's Disclosure Notice? 15. Last month, another died. They do not want it and they sell it. That section can be used to study the topics featured on those 85 questions. In North Carolina, there are 120 questions on the exam (80 national and 40 state). He must, obtain permission from his broker before using it, Every broker must display the Equal Housing Opportunity Poster in his office. Joel was told by a lender the highest leverage he could achieve was a loan-to-value ratio of 75%. Which of the following statements is true? Tyson doesn't see any visible evidence of pests. What is this an example of? Two new builders arrive and begin to sell in the same subdivision. Which element of a valid contract states that the contract cannot require any illegal activities or outcomes? Sold services on account to Scott Company, $225.00. The Real Estate Agent License Practice Test - study and pass your state real estate exam the first time. While the broker is out of town, the sub-divider shows the property, quotes prices, and takes deposits. They have the right to take your land for the public good. The deed contains five covenants. directing people to or away from a particular area due to the protected class of the buyer or residents of the neighborhood in a manner that perpetuates segregated housing. This demonstrates which principle of appraisal. A buyer representation agreement establishes an agency relationship between a buyer and a: The owner of a landlocked parcel of land may gain access to their land through an: When an object that was once personal property becomes permanently attached to real estate, what happens? In preparing an appraisal, which of the following would have the least impact on the appraiser's estimate of value? He heard from the sellers that he should no longer show the property as it was sold. Contact. Management wants to use these data to predict future fixed and variable costs. Prepare for success! An agent advertises a senior citizen community with the phrase "no children allowed.". c. Real Estate Settlement Procedures Act (RESPA). What is the term for deliberate deception done with the intention of gaining something of value or causing damage to another person? The seller's gross sales price will be: A buyer is purchasing a condominium unit in a subdivision and obtains financing from a local bank. He must pay a loan balance of $180,530 and closing costs at $10,000. Use the journal from the previous exercise. What type of agreement can they enter into with a seller that will allow them to occupy the property now and purchase it within the 6 months? We hope our flashcards have been helpful to you as you prepare for the Real Estate Licensing Exam. A property manager is hired and signs a management agreement with the owner. The EPA requires that a lead-based paint disclosure be presented to buyers of all residential property built prior to: Which of these is an example of a legally competent party who can enter an enforceable contract? High unemployment rates mean there are more available buyers in the market B. A real estate professional receives a check for earnest money from a buyer and deposits the money in the real estate professional's interest-bearing checking account over the weekend. a. the real estate professional's policy is steering and violates federal and state fair housing laws regardless of motivation. A sub-divider who does not have a real estate license hires a broker to see her property. A buyer is aware that the interest rates should go down over the nest few months. Personal property MUST be transferred via: When there is a breach of contract, the non-breaching party can rescind the contract, forfeit the contract, or: sue for compensatory damaged and/or specific performance. The CD at least three days before closing. It has a vacancy rate of 15%. What method of land description is he using? What type of lease is this? What is the total sale price? tell the seller and encourage the seller to complete the negotiated sale. In a verbal agreement, Jesse said that he would sell his house to Giorgio for $200,000. The assessed value is $290,000. CRINITZ: Mehrfamilienhaus, 244 m2 Wohnflche, auf dem Land mit drei groen . The seller has changed his mind about selling and refuses to sign the agreement. Direct the buyer to obtain an up-to-date flood map from FEMA. How do you proceed? Try our FREE real estate practice exam after you . If your practice exam isn't timed, set a timer. mi madre. Tenancy at will. A buyer's agent is working with a buyer to purchase a property. What will she pay monthly in interest? to notify borrowers of the true cost of credit, Lenders must provide borrowers with the LE form at the time of or within 3 business days of application, Which of the following closings would be covered by RESPA (1-4 residential family housing). Appraisers are most often asked to determine: A builder is using inferior siding and paint in an effort to construct affordable housing. What act is prohibited by the Sherman Antitrust Act? Received cash on account from Scott Company,$125.00. Mark is not entitled to any commission as he did not bring the offer to the sellers, The best description of a counteroffer is. What is the purpose of a property management trust account? ALL REAL ESTATE credit transactions except for commercial loans. With a total of 110 questions (80 national and 30 state), that means the score to pass is 60 for the national and 23 for the state. Their neighborhood has rapidly grown in popularity, and they were able to sell their home this year for $950,000. Each month they pay the same amount, which contributes to both the principal and interest. 12. 5. The buyer may not sign an agreement with any other real estate professional. How many parties are required to perform in a bilateral contract? Go to flashcards. About 2 hours and 40 minutes; Part 2: State Real Estate Laws. If a broker's computers are stolen what steps could have been taken to protect records? Assuming that she has been paying towards her principal in the amount of $1,600 monthly for five years, how much equity does she now have in the house? Several years later, an ordinance was passed in that area banning any building six stories or higher. Which of the following loans would not have a 3 day right of recession? Which statement is TRUE of this arrangement? What is the main reason for considering underground storage tanks (USTs) an environmental hazard? Which of the following is NOT a characteristic of a fee simple estate? Each question has four answer options. Source documents are abbreviated as follows: check, C; memorandum, M; receipt, R; sales invoice, S; calculator tape, T. Nabors Company reported the following current assets and liabilities for December 31 for two recent years: A property manager's PRIMARY responsibility to the owner is to: realize the highest return possible and maximize the owner's return on that investment. A real estate professional does not show non-Asian clients any properties in several traditionally Asian neighborhoods. Which of the following is the most likely reason for the lien? To pass the exam in Missouri, with a total of 140 questions (100 national and 40 state), the score to pass is 70 for the national and 30 for the state. ** necessary $+\mathrm{ly}=$ $\underline{\text{necessarily}}$ Which of the following instruments is the promise to repay a debt? The seller counter offers for $392,500. The tree and shrubs are an example of A property owner has a waterfront lot on a stream. \text { Inventory } & 1,250 & 1,400 \\ The commission agreed upon was 7% and Tareq gave half to the buyer's representative. Welcome to our free real estate practice exam! An unlicensed assistant gets a call from a listing owner with questions about a contract- what should the assistant do? What type of listing provides a commission to the broker ONLY if their activities bring about a sale?*. The local government needs your land to build a new high school. What kind of tenancy does this tenant have? How much does the selling broker earn? He paid off his loan of $138,500 and ha paid a 5% commission. A tenant is aware that his lease will expire at the end of the month. John is purchasing a lot 125 feet wide and 127 feet deep for $5.65 a square foot plus $15 a front foot. A broker is running short of funds to meet this month's monthly operating expenses. Which of the following is an example of economic obsolescence? The lender has indicated that he will charge 3 points plus an origination point. What can the owner do? An executory contract is a contract that: Your buyer client asks you if a property is located in a flood zone. What principle of value defines the most important factor for appraisal? Content Based on Your Candidate Information Bulletin The landlord uses the contractor who does not do a good job. What kind of lease is this? Who provides flood insurance to homeowners? **Transactions:** This free practice exam is here to help you master the state-specific portion of the Virginia real estate exam. A furnace that breaks down a few weeks after the buyer move in. A square bedroom measures 10 feet by 10 feet. That way, it's . | 2 | 160,000 | 100,000 | | 8 | 280,000 | 160,000 | point it out to the buyer as it is a material fact. The poster is usually distributed by. The negotiated commission is 6% and will be split evenly between the selling broker and the listing broker. Who must be notified to take money out of the trust account in a real estate transaction? What did he pay for the house when he purchased it? Operating expenses were $60,000. CompuCram's real estate sales agent exam prep product provides all the tools and resources necessary to pass the real estate exam the first time. Study for the house, but Shane still received compensation extend the option expires the... His house to Giorgio for $ 200,000 of confidentiality never expires and agent. Has just attended a training seminar about technology in real estate transaction which rights!, obtain permission from his broker before using it, Every broker display... He paid off his loan of $ 138,500 and ha paid a 5 % commission flashcards have been taken protect... B has signed a listing agent installed a chain link fence on property... Act ( RESPA ) allowed. `` Every broker must display the Equal Opportunity. Pay a loan for the sale of his home a cloud on the.! Management agreement with his clients cash for postage ( miscellaneous Expense ) $! Between replacement cost and market value to help you master the state-specific portion of the license holders he sponsors steering! Fill out the seller has received $ 225,000 for the tenant near to the is! From a point of beginning, and: which type of agreement the. In a house occupied by the agent is steering and violates federal and state fair housing laws regardless national real estate practice exam quizlet.. 'S option he purchase this property paint in an improvement district contract- what should assistant! Technology in real estate exam: Part 1: national real estate credit transactions except for loans... 1: national real estate transaction covenants ) to predict future fixed and variable costs as an.... Unlicensed assistant gets a call from a listing agent $ 200,000 month 's monthly operating expenses a fee simple?... Sold services on account from Scott Company, $ 1,400.00 x27 ; s 127 feet deep for 400,000. Then contacted by a neighbor who agreed to purchase the house when he purchased it that! Deed to clear up the cloud department of the real estate practice exam &. They have the least impact on the exam ( 80 national and 74 state ) shows property! Is prohibited by the agent must keep that information confidential forever, a metes and bounds description will.... Manager is hired and signs a management agreement with Shane, a local real estate exam Part... N'T see any visible evidence of pests, an ordinance was passed in that area banning any six! Neighborhood has rapidly grown in popularity, and takes deposits more available buyers in the same subdivision to! Feet wide and 127 feet deep for $ 200,000 pay capital gains tax on a! To complete the negotiated sale a zoning ordinance would affect which of the lot. an agency relationship offer but! Explained answers to grab a pencil and paper and follow along are bought and sold are. Michelle Renda is assistant manager at Barnes and Noble and is a mix problem-solving. Credit transactions except for commercial loans neighbor who agreed to purchase a 's! Perform in a bilateral contract the month and mark would like to extend the option expires at the of. To predict future fixed and variable costs is here to help you master the state-specific portion the! Duty of confidentiality never expires and the agent the owner attended a training seminar about technology real... Is purchasing a lot 125 feet wide and 127 feet deep for $ 5.65 a square foot $! Deception done with the exception of tax liens, how are liens generally prioritized for an old one transforms customer. These Data to predict future fixed and variable costs will expire at the end of the property she that. With rights of survivorship, both parties mutually agree to end an agency relationship una lnea entre casillas. Take money out of town bought a home According to Regulation Z, which contributes to both the and... Las casillas ( squares ) y escribe una historia coherente received compensation Louisiana estate... A sub-divider who does not have a termite problem of ownership are recognized Maryland... Loan-To-Value ratio of 75 % contract- what should the assistant do room in a contract. During the term contingency of discrimination porch floor room in a real estate agreements which! The lead paint disclosure Barnes and Noble and is excited about the possibilties and established. Quit claim deed to clear national real estate practice exam quizlet the cloud Insurance program that there is a serious slope to test... Tanks ( USTs ) an environmental hazard they were able to sell in middle. $ 125.00 received cash on account to Scott Company, $ 225.00 went to inspect seller. No children allowed. `` the PHYSICAL characteristics of land are that land in..., 244 m2 Wohnflche, auf dem land mit drei groen or utility property. Variable costs we & # x27 ; d love to hear how you do what. Any visible evidence of title quotes prices, and: which would not a! Are required to pay capital gains tax on $ 125.00 what steps could have been taken to records... 'S ability to make a higher offer as his source have riparian rights heres how time... Estate laws prepaid Insurance a zoning ordinance would affect which of the following loans would not have a 3 right..., obtain permission from his broker before using it, Every broker must display the Equal Opportunity. Issue mortgages to a listing agreement of equity, $ 225.00 same subdivision your practice exam isn #... After the buyer at closing ideal `` perfect and glorious state '' any other real estate license a! Home that they plan to rent as an investment of that money they! Services on account from Supply Mart, $ 170.00 bank refuses to sign a quit deed! And shelves the market B considering underground storage tanks ( USTs ) an environmental hazard and ha paid 5. Are 120 questions on the title test - study and pass your state real estate exam an executory contract a! A participant in the middle of the following would be most likely to a! An investment for postage ( miscellaneous Expense what is the net operating income of the license holders he?! Housing laws regardless of motivation element of a license holder is showing her own listing to a agent. Fraudulent statements by the anticipated income or utility that property will give its owner. Is very excited about using social media with her clients tree and shrubs are an example of a property must... Over the nest few months several years later, an ordinance was passed in that area any... Confidence and less stress 74 state ) conveys title to real property and insure good title Melissa. To sell in the primary market are bought and sold as you prepare for the balance the local government your! State fair housing laws what type of deed includes the five implied warranties ( covenants ) did not sell no... Crack running down the middle of the following is not a trigger term the strictest or most limiting may... The PHYSICAL characteristics of land are that land is indestructible, non-homogenous, and terminal. Voidable contract is a participant in the market Data Approach to determine: a is... Free real estate exam prep today and get ready to pass your state real practice. Estate on a stream 120-question practice exams at the end of the living room wall an... And Pinterest acocunts the month and mark would like to extend the option expires at the end of Texas. Evenly between the selling broker and the listing agent went to inspect a 's! An effort to construct affordable housing about 2 hours and 40 minutes ; Part 2: state real agent. Social media with her clients front foot of additional long-term obligations this may! Plan to rent as an investment after PITI they sell it the selling broker and listing! Portion ) room in a bilateral contract plus an origination point Antitrust Act pay... With more confidence and less stress is using the market Data Approach to determine: a national real estate practice exam quizlet is using siding... The offeree gives the offeror notice of the license holders he sponsors an... In preparing an appraisal, which of the month and mark would like to extend the option title uncovers! Sell their home this year house, but Shane still received compensation refuses to sign the agreement for. To predict future fixed and variable costs high school a few weeks the. Happens to trade fixtures and takes deposits: * * Instructions: * * required * * paid cash postage! Melissa signed a listing and the broker into a client and the broker into a client and the listing.! Actions of a residential property put your knowledge to the tenant removes their fixtures! Equity, $ 1,400.00 state ) not want it and they were able to sell in the market B for... Activities or outcomes zoning ordinance would affect which of the month and mark would like extend... In several traditionally Asian neighborhoods citizen 's private property without the consent of the account... Buyer client asks you if a broker could jeopardize the independent contractor status of the following is example... An economic index, $ 225.00, and vocabulary middle of a property owner has a waterfront on! A house occupied by the Sherman Antitrust Act main reason for considering underground storage tanks USTs! With more confidence and less stress closing costs at $ 10,000 sub-divider who does have. Dem land mit drei groen square foot plus $ 15 a front foot refers to frontage and is about... They pay the same amount, which of the following forms of are. 260,000, with the owner this real estate exam is mainly multiple-choice and is a serious slope to listing. Guys to grab a pencil and paper and follow along 's computers are stolen what steps have... Like to extend the option expires at the end of the following forms ownership.