Real Estate Dynamics Study guides, Class notes & Summaries

what is property? Correct Answer-property consists of things plus the rights of ownership what is personal property and what is a distinguishing factor? Correct Answer-personal property are items that the seller can load into a van after the moving sale. what is chattels personal Correct Answer-things like cars, boats furniture money etc what is chattel real Correct Answer-chattel real are items that extend to the owner and interest in the property such as leases, mortgages, contracts t...

1. Which of the following is NOT considered to be an economic characteristic of land? A. Scarcity B. Modification C. Location (situs) D. Immobility Correct Answer-D. Immobility Physical: Immobility, Non-Homogeneity, Indestructibility Economic: Location, Preference (Situs), Improvements, Fixed Investments, Scarcity Chapter 1-7 2. A property is listed for $110,000. On March 1 , the owner accepts a written offer for $105,000, and the closing date is set for June 15. On March ...

1.1 Which of the following best describes a parcel of land? A. The surface of the Earth includes all things permanently attached and the control of all minerals and substances beneath. B. The surface of the Earth extending down to the center and upward to infinity. C. The Earth's Surface clearly marked by certain boundaries. D. The surface of the Earth extending down a reasonable distance and up into the air a reasonable distance. Correct Answer-B. The surface of the Earth extending...

D Correct Answer-When a salesperson goes to work for a broker, the salesperson must enter into a written contract that explains the terms of the employment relationship. The Commission: A. Requires the agreement state what accounting is to take place for such things as prospects, signs, and keys at the time the licensee decides to leave the broker B. Enforces the terms of such employment agreements C. Requires such agreements to specify how the salesperson is to be compensated D. BOTH requ...

D Correct Answer-If a purchaser breaches a valid and enforceable sales contract, the seller may at his/her option: * A. declare the contract forfeited and retain as liquidated damages any payments received from the buyer. B. rescind the contract and return any payments received from the buyer. C. sue for specific performance. D. Any of the other answers are correct. A Correct Answer-All of the following are examples of how a contract may be discharged EXCEPT: * A. assignment by the purch...

Real Estate Dynamics CH 19 Questions with Complete Solutions.

Real Estate Dynamics Ch. 6 & 7 – Agency Questions with Complete Solutions

Real Estate Dynamics chapter 1 Questions with Complete Solutions

Real Estate Dynamics Mid-Term questions with complete solutions

Real Estate Dynamics – Midterm Questions with complete solutions