45 Hour Post Licensing Exam Correct 100%

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - ANSWER $300,000 What facts need not be disclosed in a real estate transaction? - ANSWER The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - ANSWER The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorations for taxes and interest are $5,036. The mortgage payoff is $181,500. What are the seller's proceeds from the sale? - ANSWER $100,534 Filing a suit to quiet title is used when - ANSWER a title defect is found, which is difficult to remove by ordinary means. What are the benefits of restrictive covenants? - ANSWER Maintain and enhance value What's the downside for a principal who has a single agent? - ANSWER Responsible for the single agent's acts What is the likely cause of a contract for sale of real estate being ruled as unenforceable? - ANSWER Unwritten agreement Aside from a property's location, what is the most important factor that influences market value? - ANSWER Highest and best use The margin is - ANSWER the percentage added to the ind