Real estate class final exam()With complete updated solution Which of the following cannot be a trustee? - answerCPA The discount points are 3%, which represents $2,700. The buyer down payment is 20%. What is the purchase price of the property -

Real estate class final exam(2023- 2024)With complete updated solution Which of the following cannot be a trustee? - answerCPA The discount points are 3%, which represents $2,700. The buyer down payment is 20%. What is the purchase price of the property - answer100%-20%= 80% $2,700/3%= $90,000 90,000/80%= $112,500 A method of legal description that uses definite property lines and starting points is called? - answerFormal metes and bounds The seller wants to net $175, 000 after paying a 6% commission to the listing broker and the $500 appraisal fee. What is the minimum selling price of the home? - answer$175,000/0.94= $186,170 $186,170 +500= $186,670 Which of the following is NOT true regarding a sale lease back transaction? - answerLessee retains legal title An appraisal is required to obtain a VA loan, this document is called: - answerCertificate of reasonable value Which of the following below could sign a property management agreement? - answerlicensed salespeople with a broker In this listing contract, the real estate broker must: - answerExercise diligence in finding a purchaser In Arizona, a broker must be able to prove employment by a seller in order to be assured of collecting a commission. Proof of employment is: - answerA listing agreement