Real Estate Fundamentals Questions & Correctly Answers

Real Estate Fundamentals Questions & Correctly Answers An owner of a residential property had planted a rose bush several years ago on the property. Regarding the rose bush she had planted, this would be considered - ANSWER Real estate An owner of a property built a free standing bookshelf to fit in an alcove in the basement. If the owner were to sell the property, the bookshelf would be considered - ANSWER Personal property In a commercial property sale, what document would be used in conveying personal property, such as a detached refrigerator and stove? - ANSWER Bill of sale Which of the following would be the best definition of a fixture? - ANSWER A physical attachment to the real estate A property is listed for sale by a broker. There is a ceiling fixture in the living room that matches all of the furniture in that same room. The listing contract does NOT mention anything about the ceiling fixture. Any possible buyer can assume that the - ANSWER Ceiling fixture stays with the house A farmer owned some agricultural property. The farmer rented the farm to a tenant who planted an 80 acre corn crop on the farm. The corn crop would be - ANSWER Personal property of the tenant Loan To Value - ANSWER The percentage of the property's value that is mortgage How many inches is 1ft - ANSWER 12 inches