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Exam (elaborations)

SC REAL ESTATE EXAM REVIEW QUESTIONS WITH COMPLETE ANSWERS

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SC REAL ESTATE EXAM REVIEW QUESTIONS WITH COMPLETE ANSWERS

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a tenant vacated the property because the landlord refused to fix the hot water heater.
this is called


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constructive eviction

,how often do realtors renew licenses


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every 2 years by June 30th which I the end of the fiscal year




dedication


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voluntary transfer from an individual to a government




a listing broker knows that the 5 year protection for the town to include construction of a
parkway that will border the property. what disclosure does the realtor owe the client


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full disclosure because it is a material act




the buyer is assuming the mortgage presently on the property of 110,000. what is the
adjustment at closing


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, credit buyer 110,000, debit seller 110,000




an agency relationship between a property owner and a property manager are usually
created by


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a management agreement




leased fee interest or estate


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owner's or landlord's interest in the real property. remember, the landlord
hold the fee or title to the property




wraparound mortgage


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a new mortgage wraps around an old mortgage. this is used when the old
mortgage wont be paid off at the tie of the sale of the property

, OLD CAR


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obedience
loyalty
disclosure
confidentiality
accounting
reasonable care




a tenant pays rent and a security deposit. what are the regulations regarding the deposit
of these funds?


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both rent and security deposit can be deposited into the same escrow
account




a deed restriction is applicable to all the activities of


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all owners, present and future

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