- Study guides, Class notes & Summaries

An increase in the value of property - ANSWER-Which of the following describes the term appreciation? An assignment - ANSWER-When ownership of a mortgage is transferred from one company or individual to another, it is called: Balloon mortgage - ANSWER-A mortgage loan which requires the remaining balance be paid at a specific point in time is called a: More second mortgage lenders now will lend at a high to loan value. Sellers would rather accept offers from buyers who have already sol...

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20 pages

Written in 2022/2023

Grade A+

Nathan2002

real property - ANSWER-* land plus things permanently attached by nature or man * transferred by a deed real estate - ANSWER-any interest in land land - ANSWER-surface of the earth extending down to center of the earth and upward to infinity personal property - ANSWER-* anything movable * transfer with a bill of sale * aka: personal / chattel * ex - above ground pool chattel real - ANSWER-* documents that show interest in real property * mortgage emblements - ANSWER-* fract...

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5 pages

Written in 2022/2023

Grade A+

Nathan2002

SC PSI Real Estate Exam Prep. Questions with accurate answers, Graded A Document Content and Description Below SC PSI Real Estate Exam Prep. Questions with accurate answers, Graded A Which of the following describes the term appreciation? - An increase in the value of property When ownership of a mortgage is transferred from one company or individual to another, it is called: - An assignment A mortgage loan which requires the remaining balance be paid at a specific point in time is called a: -...

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26 pages

Written in 2022/2023

Grade A+

Savior

When a loan is subject to the provisions of the Real Estate Settlement Procedures Act (RESPA), Which of the following elements of the Real estate transaction need NOT observe RESPA guidelines - ANSWER-The Commission structure for licensees Regulation Z of the Truth_in lending Act Provides what penalty for licensees who willfully fail to comply with its advertising guidelines for real estate financing? - ANSWER-Fines and/or imprisionment Salesperson A for Broker B has listed a home. Salespe...

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5 pages

Written in 2022/2023

Grade A+

Nathan2002

A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called - ANSWER-a contract Antitrust laws prohibit competing brokers from all of the following - ANSWER-1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agreeing to set sales commissions and management rates. When a sewer line is installed down a rural road, the cost will probably be shared by - ANSWER-all current owners of real estate fronting on that r...

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40 pages

Written in 2022/2023

Grade A+

Nathan2002