Real Estate Barnes Final Exam
Questions And Verified Answers |
Accurate Solutions | Get It 100%
Correct!! | Already Graded A
A person who has secured the right to purchase a property at a fixed
price for a designated period of time and has paid a consideration for
the prívele would own a(n) - ✔✔ANSWER✔✔->>Option
While the property is under contract for deed, the buyer, or vendee,
takes possession of the property and makes timely payments of
principal and interest. At the end of the term, the vendee obtains a loan
and use the funds to pay off the vendor. Given the circumstances what
option does the seller have? - ✔✔ANSWER✔✔->>He may offer to
repurchase the property after conveying title
,Albert and Brenda enter into a verbal contract, this is an -
✔✔ANSWER✔✔->>expressed contract
The buyer pays the seller $5000 to purchase within 120 days an
apartment building containing 18 units. This action is a/an -
✔✔ANSWER✔✔->>option
A sales contract contains a one-month financing contingency to allow
the buyer to procure a loan. 32 days later, the buyer still has no loan
commitment. At this point the seller may - ✔✔ANSWER✔✔->>A. put
the property back on the market.
For a contract to be enforceable it should - ✔✔ANSWER✔✔->>have
legal objective
When is an offer to purchase property "accepted"? - ✔✔ANSWER✔✔-
>>The seller excepts, and the signed contract is delivered to the buyer
During the executory. Of a service contract, the buyer enjoys which of
the following interest? - ✔✔ANSWER✔✔->>Equitable title
Bill has a 2 year lease on a piece of property from Kathy with an option
to purchase. Bill paid $1500 for the option to purchase. If Bill wishes to
purchase the property at the end of the lease he must inform Cathy in
writing within 60 days of the lease expiration. Bill sells his option to
, purchase to Zepeda for $10,000. Cathy does not like Zepeda and would
like to not sell the property to Zepeda. Zepeda decides to enact his
option, Cathy can - ✔✔ANSWER✔✔->>Refuse to sell intake Zepeda to
court Zepeda will most likely prevail
Of the following, which is not necessary To have a valid contract for the
sale of real estate? - ✔✔ANSWER✔✔->>Earnest money
Once an agreement of sale signed, the purchaser has -
✔✔ANSWER✔✔->>Equitable title
Zelda signs a contract with Billy who is a minor. The contract Zelda sign
with Billy is - ✔✔ANSWER✔✔->>Voidable by the minor
A property owner wants to put $240,000 in the bank after selling a
property in a county for all the expenses. A broker finds a buyer and
sells the property for $280,000. Closing cost come to $10,000, not
including the broker's commission. According to the agreement, the
remainder of the amount over $240,000 goes to the broker as
commission the listing agreement is probably a(n) - ✔✔ANSWER✔✔-
>>Net listing
A landlord agrees to pay a broker for pecuring a tenant unless someone
else finds the tenant first. This is an example of a(n) - ✔✔ANSWER✔✔-
>>Open Listing
Questions And Verified Answers |
Accurate Solutions | Get It 100%
Correct!! | Already Graded A
A person who has secured the right to purchase a property at a fixed
price for a designated period of time and has paid a consideration for
the prívele would own a(n) - ✔✔ANSWER✔✔->>Option
While the property is under contract for deed, the buyer, or vendee,
takes possession of the property and makes timely payments of
principal and interest. At the end of the term, the vendee obtains a loan
and use the funds to pay off the vendor. Given the circumstances what
option does the seller have? - ✔✔ANSWER✔✔->>He may offer to
repurchase the property after conveying title
,Albert and Brenda enter into a verbal contract, this is an -
✔✔ANSWER✔✔->>expressed contract
The buyer pays the seller $5000 to purchase within 120 days an
apartment building containing 18 units. This action is a/an -
✔✔ANSWER✔✔->>option
A sales contract contains a one-month financing contingency to allow
the buyer to procure a loan. 32 days later, the buyer still has no loan
commitment. At this point the seller may - ✔✔ANSWER✔✔->>A. put
the property back on the market.
For a contract to be enforceable it should - ✔✔ANSWER✔✔->>have
legal objective
When is an offer to purchase property "accepted"? - ✔✔ANSWER✔✔-
>>The seller excepts, and the signed contract is delivered to the buyer
During the executory. Of a service contract, the buyer enjoys which of
the following interest? - ✔✔ANSWER✔✔->>Equitable title
Bill has a 2 year lease on a piece of property from Kathy with an option
to purchase. Bill paid $1500 for the option to purchase. If Bill wishes to
purchase the property at the end of the lease he must inform Cathy in
writing within 60 days of the lease expiration. Bill sells his option to
, purchase to Zepeda for $10,000. Cathy does not like Zepeda and would
like to not sell the property to Zepeda. Zepeda decides to enact his
option, Cathy can - ✔✔ANSWER✔✔->>Refuse to sell intake Zepeda to
court Zepeda will most likely prevail
Of the following, which is not necessary To have a valid contract for the
sale of real estate? - ✔✔ANSWER✔✔->>Earnest money
Once an agreement of sale signed, the purchaser has -
✔✔ANSWER✔✔->>Equitable title
Zelda signs a contract with Billy who is a minor. The contract Zelda sign
with Billy is - ✔✔ANSWER✔✔->>Voidable by the minor
A property owner wants to put $240,000 in the bank after selling a
property in a county for all the expenses. A broker finds a buyer and
sells the property for $280,000. Closing cost come to $10,000, not
including the broker's commission. According to the agreement, the
remainder of the amount over $240,000 goes to the broker as
commission the listing agreement is probably a(n) - ✔✔ANSWER✔✔-
>>Net listing
A landlord agrees to pay a broker for pecuring a tenant unless someone
else finds the tenant first. This is an example of a(n) - ✔✔ANSWER✔✔-
>>Open Listing
