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There are three types of agents in general business dealings.
These include the
universal agent, the general agent, and the: - ANSWER-
special agent
A real estate agent that can call him or herself a REALTOR
means he or she: -
ANSWER-Is a member of the National Association of
REALTORS
Which of the following is an example of a bilateral contract? -
ANSWER-A lease
agreement
Bruce has a survey that is for a parcel in New England which is
on the historic registry. It mentions compass bearings
including degrees, minutes and
, seconds. Which survey method would likely have been used for
the parcel? - ANSWER-metes and bounds
Which of the following actions would terminate a contract?
1) Hilary performing inspections during the inspection period
2) Hilary failing to do what she needed to before the contract
date expired
3) Hilary applying for a loan
4) Hilary getting cold feet about buying the house - ANSWER-
Hilary failing to do what she needed to before the contract
date expired
Sally is buying a home and the closing date is set for April 20th.
The annual property taxes are $1,234.00 and have not been paid
yet. How much will the buyer be credited and the seller be
debited? - ANSWER-$368.51
[Section 14 Slide 64, Page 420] Step 1: Find the daily rate;
property taxes for the year ($1234.00) / 365 days = $3.38.
Step 2: Seller will credit buyer from January through midnight
the day before closing. Calculate the exact number of days;
January 31 + February 28 + March
31 + April 19 = 109 days Step 3: Multiply the daily rate
($3.3808219178) x
Number of days (109) = $368.51