Real Estate Study guides, Class notes & Summaries

Real Estate Final Exam Practice Questions with Correct Answers Graded A+ When a form of real estate sales contract has been agreed to and signed by the purchasers and given to the seller's broker with an earnest money check __________. this transaction is considered an offer. If a seller makes any changes in an offer from a buyer prior to acceptance, the buyer, _____ is relieved of the original offer Who are the parties to a Listing Agreement? Seller and Listing Agent The Buyer sig...

Real Estate Exam AZ Question and Answer 100% Correct Recission - Legal remedy of canceling, terminating or annulling a contract and restoring the parties to their original positions. Encumbrance - A claim against title or a limitation on use. Puffing - Exaggerated statement or opinion by the broker. ADWR - Arizona Department of Water Resources. Agency that oversees Active Management Areas and issues the Certificated of Assured Water Supply. Capitalization - Appraisal method of income pr...

Real Estate Exam: Law of Agency Question and Answer 100% Correct This person hires an agent - The Principal The agent works on behalf of this person - the client (principal) This type of agency allows for the greatest range of authority - Universal This is provided to the agent when there is written documentation that the agency relationship exists. - Express authority This is the most limited of all the agency relationships - Special agency This type of agency is created when a 3rd par...

Bermuda Real Estate Summary paper. Questions and Answers for current student Defect/Cloud in the title - ***Conflicting claims that prevent the absolute legal conveyance of CLEAR TITLE Period to Period is a type of leasehold that: - ***Has no specific expiration but the length is specified (like a month-to-month lease) Net Lease - ***lease in which the tenant pays some or all of the operating expenses of the property in addition to rent. Often commercial. Adverse Possession - ***A pe...

Real Estate Practice Exam Questions 2024 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition... the process of determining...

Real Estate Exam Prep (Champions; Texas) Questions with correct Answers 100% Verified appurtenance - answerterm used to describe rights, privileges or improvements that belong to and pass with the land improvements - answerman's additions to the land such as building and landscaping personal property - answeralso called chattel or personalty; a right or interest in smiting of a temporary or movable nature and includes anything not classed as real property. Real property becomes personal...

REAL ESTATE (AZ SPECIFIC ), Exam Questions and answers/ Arizona property taxes are based on: - -Assessed value The tax rate applied to owner occupied residential property is: - -10 % What lien has priority first: - -Property taxes Property taxes become a lien the first day of: - -January If a property is not bid at a tax foreclosure sale: - -Anyone can later buy the tax lien from the Treasurer Rank the following in order: IRS lien, Property Taxes, Special Assessments - -Property Taxes...

Real Estate Test (Arizona), Exam Questions and answers/ REAL ESTATE CODE - -The cornerstone of the National Association of Realtors ethics training. Redemption period after non judicial foreclosure - -NO redemption Reinstate after default and trustee's sale has been recorded - -90 days Redemption after a sheriffs sale - -is 6 months ARTICLE XXVI (26) - of the Arizona Constitution - -Gives licensees the authority to prepare all types of real estate contracts, but only... - When prepar...

Real Estate Practice Exam Questions & Answers 1. Brokerage definition... - -the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? - -schools and cemetary 3. What is an example of functional obsolescence? - -bathroom 4. Principal definition... - -a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition... - -the proce...

Real Estate Final Exam (150 Questions) #1. Questions and answers, rated A+ A real estate licensee has a buyer agency agreement. What is the seller in this situation? - -A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? - -He must exercise his option under the terms of the option contract. When can a landlord evict a disabled blind or disabled tenant from the prem...