NC Post Licensing 303 Exam with Questions and Answers

NC Post Licensing 303 Exam with Questions and Answers Absorption Study - VIP ANSWER analyzing the amount of space leased and vacant over a particular period of time Key factors that affect commercial real estate ANSWER Location Area demographics Traffic patterns Income levels Growth Trends Retail spaces are usually leased ANSWER square foot as an annual dollar amount In a Commercial Purchase a common practice is to ANSWER Use Letters of Intent before a final purchase contract is created by parties Inspection period in a commercial purchase is ANSWER 10 day free look period Property used in a trade or business may qualify for tax ANSWER depreciation Capital gains ANSWER if real estate has not been an owner occupied for 2 out of the last 5 years is subject to Capital GAINS TAX