Final Exam: Real Estate Real Estate Express questions and answers 100% verified.

Final Exam: Real Estate Real Estate Express questions and answers 100% verified. At least that goes month to month is known as - correct state from period to period Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments, plus 9% interest. in this case what is the monthly interest in the first month - correct answers.$225 1st you take $30000 in multiply it by 9% for the total annual interest paid or $2700. Divide that by 12 months for the total of $225 per month entries payment Typically a listing broker is usually considered to be? - correct answers.a fiduciary (agent) of the seller. A section - correct answers.[]A square normally 1 mile on a side. []The Land Ordinance of 1785 divided townships in the United States into 36 sections. An owner of a 12 unit apartment building lived in one of the apartments. The owner refused to rent to a person because of his national origin. Based on Federal Fair Housing Laws, does the prospective tenant have a valid complaint? - correct answers.Yes because it was a 12 unit apartment building Several legal steps must sometimes be taken before a creditor can have his outstanding debt satisfied through the sale of the debtor's property. Which of the following is not one of the steps in the process - correct answers.Writ of persecution Property owner of Livia does not like how much she pays in property taxes what may she object to( and have a chance of winning)? - correct answers.The assess value of her property A point, line, or surface from which elevations are major is known as the - correct answers.Datum A loan company was loan applicants a particular insurance company, which in turn paid the loan company a referral fee. This is: - correct al, since the Real Estate Procedures Act prohibits kickbacks A property was assessed at 25% of value with a text rate of $12 per hundred. If the taxes totalled $11400 what was the value? - correct answers.$380,000 Divide the total taxes ($11400) by the rate per hundred ($12) for a total of 950. Multiply that by $100 for the total of $95000, which is 25% of the value. Then divideby $95000 by 25% to obtain a 100% value of $38,000 If a borrower must pay $6000 for points on a $150,000 loan how many points is the lender charging for this loan? - correct answers.4 points $6,000÷$150,000=.04 or 4 point A 3 year straight note was obtained at 10% per year interest pay first two years was $42,000. The loan on the house was 75% of the value. What was the total value of the property? - correct answers.$280,000 -if 2yrs=$42,000 then 1yr=$21,000. -At 10% the principal balance is $210,000 -since the loan is for 75% of the home divide $210,000 by 0.75%=$280,000 A brokerage was paid a commission of 6% of the 1st $120000 of the sales price and 4% of everything over a $120,000 what would the sell price be if the total commission was $9000? - correct answers.$165,000 @6% commission was $7,200 (0.06×$120,000). sub %9,000 from total commission...leaving $1,800. Since rate was at 4%, divide by $1,800, yielding $45,000. Then add $120,000; totalling $165,000 Broker Aubrey has a listing agreement with the seller Scarlett. one of Aubrey's salesperson commits a license law by violation while interacting with Scarlett. Aubrey - correct answers.Could be responsible due to vicarious liability Red lining deals with the conduct of? - correct answers.Lending institutions - correct answers. A person who dies without leaving a will is known as having died: - correct tate What is the principal federal statute that covers competition and is one of the most important pieces of anti-trust legislation - correct answers.The Sherman antitrust act of 1890 A house so for $350,000 the buyer made a 20% down payment. Monthly interest on the loan was $1400 what was the interest rate on the loan? - correct answers.6% The current value of a property is $40,000. The property is assessed at 40% of its current value for real estate tax purposes, with the equalization factor of 1.5 apply to assessed value. If the tax rate is $4 per $100 of assessed what is the amount of tax due on the property? - correct answers.$960 First take $40,000 × 0.40 = 16,000 × 1.5 = 24,000 then 24,000 / 100 = 240 then, 240 × 4= $960