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NJ Real Estate Exam: Practice Questions & Answers: Updated A+ Guide Solution
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A married couple who meets the ownership and occupancy requirements may sell a principal residence with no federal capital gains tax on profit of up to: A. $125,000 B. $250,000 C. $500,000 D. any amount (Ans- C. $500,000 The amount of commission due a salesperson is determined by A. agreement between broker and seller B. agreement between broker and salesperson C. the local association of REALTORS D. state law (Ans- B. agreement between broker and salespersonIn a real estate sale, transfer tax fees are usually paid by the: A. seller B. state C. buyer D. broker (Ans- A. seller
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