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Exam (elaborations)

REAL ESTATE SIMULATION EXAM 2 QUESTIONS WITH VERIFIED ANSWERS

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REAL ESTATE SIMULATION EXAM 2 QUESTIONS WITH VERIFIED ANSWERS...

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REAL ESTATE SIMULATION
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Institution
REAL ESTATE SIMULATION
Course
REAL ESTATE SIMULATION

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Uploaded on
March 29, 2025
Number of pages
14
Written in
2024/2025
Type
Exam (elaborations)
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Questions & answers

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owner of the condomimium - ANSWER The property taxes for a condominium
unit are paid for by the

the owner evicts the tenant after proper service of a three day notice to quit -
ANSWER Which of the following action does not constitute constructive
eviction under a lease?

disclose, elect, confirm - ANSWER What are the three steps of the agency
disclosure in proper chronological order?

dual agent - ANSWER A broker who simultaneously represents the best
interests of both opposing parties in a transaction is known as an

the broker needs to get the sellers permission - ANSWER BArnard made an
offer to buy a vancant residence. The offer was accepted by the seller. Prior to
the close of escrow, bernard requested permission from the broker to enter and
make minor repairs to the house. Which of the following is true?

simultaneously present the two additional offers to owner Martha as soon as
possible - ANSWER Broker sarah delivered an offer to purchase real property
to owner Martha. Owner martha asked for 24 hours to consider the offer. later
the same day, Broker sarah recieved two more offers. Broker sarah believes the
owner will reject all three offers.In order to comply with law, Broker sarah must

conformity of size and style - ANSWER What contributes to the value of a
well planned neighborhood versus a poorly planned neighborhood?

, contribution - ANSWER An appraiser views the addition of an amentiy to an
aprttment building under which appraisal principle?

Economic obsolence - ANSWER What type of depreciation is the most
challenging to correct?

depreciation - ANSWER Return of an investors investment is provided for
through:

one - ANSWER The max number of properties that can be covered by a trust
deed without a blanket enumberance is:

California Housing Financing Agency (CALHFA) - ANSWER Heather, a
single mother, is able to get down payment assistance as well as a below market
rate of interest on her mortgage. Wha type of mortgage did she recieve?

a property has been judicially foreclosed - ANSWER Deficiency judgements
can only be granted when

income - ANSWER Sally applied for a real estate loan. The lender can lawfully
require her to answer questions in regards to her:

exectutrix - ANSWER A husband nominates his wife to manage his will. Thus,
she will function as a :

provide a new grant deed to the seller - ANSWER If a buyer and seller decide
to rescind a deal after the deed has been recorded, the buyer is to:

Advance fees - ANSWER Broker fees deposited with the broker before they
are earned are called:

excludes part of the property from the grant - ANSWER An exception in a
grant deed:

be contained in a deed or written agreement - ANSWER To be valid,
restrictions in a grant deed need to:

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