sales general practice exam – Pearson Correctly Answered Questions| UpToDate | Already Graded A+

Which of the following clauses in a conventional mortgage instrument entitles the lender to accelerate the loan if the loan is assumed? Prepayment Right-to-sell Due-on-sale Variable interest rate ☑: Due-on-sale If the value of a property is affected by negative forces outside the property, which are beyond the control of the owner, this is referred to as: physical deterioration accrued depreciation functional obsolescence economic obsolescence ☑: economic obsolescence EXCELLENCE 2 An agreement between what two parties determines the amount of earnest money during a real estate transaction? ☑: Buyer and Seller If XYZ Company defaults on its unexpired lease and abandons the rented premises, the property manager SHOULD: release XYZ from any further obligations and sublet the property forfeit XYZ's security deposit and most recent rent payment notify XYZ that it is responsible for the remaining lease payments charge XYZ a penalty of three times the rent due ☑: release XYZ from any further obligations and sublet the property A property manager works in the BEST interests of the: tenant owner agent bank ☑: owne