NC Post Licence 303 selected topics Exam 2024 Questions & Answers 100% Correct!
Comercial Real Estate Broker Lien - ANSWERSavailable only to listing broker, is NOT superior to mechanics lien, Must be filed for sales: within 30 days prior to closing; Leases: within 60 days after due date of payment Limited Non Resident Commercial License - ANSWERSMust reside in another state or US territory , PERON must hold an active license in a "qualifying state" , Two years experience NOT required. Modular Housing - ANSWERSMust be erected by a general contractor or by a person bonded for $5000 to assure compliance with the building code Financing in Commercial Brokerage - ANSWERS-Lending: More ARM's LTV's much lower Loans more often made to entities Non-Recourse loans Office Floor space categories - ANSWERSFloor plate Core area Usable area Rentable area Full service Lease - ANSWERSLandlord provides more services scubas cleaning, utilities, and other services Rent is usually higher Absorption study - ANSWERSUsed to measure how much office space is available vs. how much is used during a particular period Transaction Cycle (Sales) - ANSWERS-Buyer usually given a free look period -May terminate without penalty unless otherwise agreed -Option contract may serve better Due Diligence - ANSWERSInvestigate the property
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