NYREI TEST WITH COMPLETE SOLUTIONS

NYREI TEST WITH COMPLETE SOLUTIONS In his first week on the job, property manager Tim checks the insurance coverage for the building he manages and indicates potential needs for more coverage. This is an example of Tim's obligation to - CORRECT ️️ a. risk management. What is it called when a lender evaluates a prospective buyer and documents, in writing, that he is willing to loan this buyer up to a certain amount of money? - CORRECT ️️ b. pre-approval When someone dies without a will and without heirs or creditors, his properly reverts to the state through the process of - CORRECT ️️ a. escheat. An agent lists a 1.8 acre properly for sale. The owner wants $3.25 per square foot. What is the asking price of the properly? - CORRECT ️️ b. $254,826.00 The STAR program provides a partial exemption to New York State homeowners for - CORRECT ️️ d. school district taxes. Craig owns a warehouse and his property taxes were recently raised. In turn, Craig charged the tenant currently occupying the building additional operating expenses. This is an example of - CORRECT ️️ a. a pass-through. Taylor has $80,000 to invest and considers buying a strip mall with an asking price of $480,000. The estimated NOI, based on the current owner's operating statement, is $36,000. What would be his expected capitalization rate? - CORRECT ️️ d. 7.5%