Real Estate Final Exam: Questions & Answers: Latest Updated A+ Score Guide Solution

A buyer wanted to use a promissory note for consideration on the purchase of a property. Can he do this? (Ans- Yes. This is acceptable as long as the seller agrees. If advertised alone, which would be in violation of Truth in Lending? (Ans- "No down payment required." Why would a mortgagee have an appraisal on the property? (Ans- To assure the property value is sufficient to cover the loan Seller Jolita lists her house with Broker Fred. Fred then buys Jolita's house and collects the agreed-upon commission. This is an example of (Ans- self-dealing. An owner was selling his own home. Can he advertise the down payment? (Ans- Yes, because it was his own home.Which is true about restrictive covenants? (Ans- They are placed by private parties in a deed. Looking at shopping centers in the appraisal process, the social fiber of the community and distances from schools is called (Ans- neighborhood analysis. Which best describes why a buyer purchases a home using the market data approach? (Ans- Buyers buy after they compare the house with others. How many feet in one yard? (Ans- 3 feet in one yard A scale drawing shows a room t