Principles of Real Estate 2 Exam With 100% Correct Answers 2024

Principles of Real Estate 2 Exam With 100% Correct Answers 2024 Jennifer and Mallory, a buyer and a seller, are going through the closing process of their real estate transaction. In their transaction, like in most sales transactions, two closings will take place: - answerthe closing of the sale and the closing of the buyer's loan Allie's property is 600' x 430'. How many acres is the lot? - answer5.92 What is one way investors can get a break on taxes? - answerInvestors can claim tax- sheltered income through depreciation expenses. The loss of property value caused by negative forces beyond the control of the owner is called: - answereconomic obsolescence What legislative act includes Regulation Z, a regulation stating the borrower in a credit transaction has three days to rescind the transaction? - answerTILA What is a property manager's primary duty? - answerto protect the property owner's investment and maximize the owner's return on that investment Andy is the landlord of a rental home. Andy neglects to trim the tree that shades the home and the tree creates a hole in the roof. This develops into a severe roof leak. The ensuing roof repair would qualify as: - answerCorrective maintenance Jessie is trying to decide whether or not she should buy discount points on her loan. Which of the following is NOT true about the discount points she could buy? - answerJessie should buy as many discount points as her lender allows her to. What are property taxes based on? - answerthe tax rate and the assessed value of the property Molly asks to install a doggy door in her apartment for her service dog. The landlord agrees, but requests that Molly remove the doggy door before she moves out. Evaluate this situation. - answerIt is reasonable and lawful for the landlord to make this request What does constructive notice presume? - answera diligent individual can search the public record to gain an understanding of a property, including present and past interests in that property