Nj real estate exam Study guides, Class notes & Summaries

Seller A entered into an option contract with Buyer B. The contract allowed for a price of $200,000 which Seller A honor for a 12 month period exclusively for Buyer B. This would be an example of a - a unilateral contract in which only seller B has made a promise to perform. The purchased price for a new home was $230,000. The buyer put down 20%, and the balance was a mortgage for 80%of the purchase price. The appraised value at the time of closing was $220,000. What will the buyer pay for one ...

PSI NJ REAL ESTATE EXAM, PSI PRACTICE TEST EXAM STUDY MATERIALS QUESTION AND ANSWERS (VERIFIED ANSWERS)

When a land owner uses his land as security for a loan, the encumbrance created is called. - C. an involuntary lien If an owner wants to list a property for sale "as is," the listing agent should - C. Question the seller to any known defects According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the - A. licensee must hold a timeshare license May a New Jersey real estate l...

PSI NJ REAL ESTATE EXAM, PSI PRACTICE TEST EXAM STUDY MATERIALS QUESTION AND ANSWERS (VERIFIED ANSWERS)

NJ REAL ESTATE PRACTICE EXAM 2021 The type of deed that warrants only that the grantor has not impaired the title during the term in which he held it is referred to as. 1. Quitclaim Deed 2. General Warranty Deed 3. Bargain and Sale Deed 4. Bargain and Sale Deed, CAG - ANS Bargain and Sale Deed, CAG Taxes raised to pay for improvements that benefit real estate are referred to as 1. Special Assessments 2. Facilities Taxes 3. Ad Valorem Taxes 4. Luxury Rates - ANS Spe...

COLIBRI NJ REAL ESTATE EXAM 2024| COLIBRI REAL ESTATE EXAM AND PRACTICE EXAM 300 QUESTIONS AND ANSWERS | LATEST UPDATE | GUARANTEED PASS | GRADED A | 2024 COLIBRI NJ REAL ESTATE EXAM 2024| COLIBRI REAL ESTATE EXAM AND PRACTICE EXAM 300 QUESTIONS AND ANSWERS | LATEST UPDATE | GUARANTEED PASS | GRADED A | 2024

Colibri School Exam NJ 2023(updated)question and answers rated A+In a real estate transaction the principal would BEST be described as the - correct answer Person represented by an agent Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like to place solar panels on the roof. Beet knows that the homeowners association CC&Rs would prohibit this to protect the historic character of the neighborhood, but he doesn't tell the buyer for fear she...

PSI NJ Real Estate Exam, PSI Practice Test. Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender, title is held by the Mor...