NYREI Practice Exam Latest Version 2024/2025 Expert-Verified Q&As

A CMA is prepared to estimate the likely sale price of a property. This analysis is based on the - market data approach. A forced sale is also known as - specific performance. A group of New York City neighbors wants to get a theater on their block designated as a landmark. How old must that theater be? - 30 A lease temporarily transfers the rights of property from the _________ to the ________. - lessor / lessee A legal description of a property states that the home's location begins on the northwest corner of Moss Head Crossing. This is typically a form of - metes and bounds. A property has been renting for $750 per month. Based on comparables, the GRM is 110. What is the indicated value of the property? - $82,500 A property is appraised at $150, 000 and assessed for tax purposes at 35 % value. Calculate the annual tax bill if the mills total is 80. - 4,200 A real estate salesperson says, "I hear that a large group of minorities is moving into the neighborhood. It may be time to move before your property value decreases." This is an example of - blockbusting A rental property has a return rate of 8%. The monthly net rental is $600. What is the market value of the property? - 90000