National Portion Of Real Estate Exam Latest Update with Verified Solutions

National Portion Of Real Estate Exam Latest Update with Verified Solutions contract that gives a purchaser the right to buy property at a fixed price within a stated period of time, without obligationthe purchaser to do so, is know as an option prospective buyers for a house want to operate a recycling center in their back yard. local zoning laws do not allow this. what do they need to do first? Obtain a variance or special exception An offer was presented but the seller did not accept the offer, instead he suggested different terms that would be more acceptable This is a negotiation that keeps the original offer alive a seller refuses to honor a sales agreement. the buyer could seek specific performance, which is a legal request to collect punitive damages from the seller a real estate licensee has been asked to estimate the value of the seller's home for the purpose of deciding upon a listing price. which of the following essential elements of value to be considered. utility, scarcity, demand, transferability which of the following type of deeds provides the purchaser of real estate the greatest protection General warranty deed a licensee just attended a class on using social media to further her real estate career. she was so excited about the class she immediately signed up for Facebook, twitter, and LinkedIn. she has chosen a listing to market via social networking, a residence recently built to resemble. which of the following words or phrases may she lawfully include in her advertising? Antebellum style mansion A landlord's lease prohibits tenants from altering the property in any way. A woman who uses a wheelchair cannot maneuver over the doorstep into the apartment by herself. In addition, she cannot access the bathroom facilities in her wheelchair. Which of the following is true? The tenant is entitled to make the necessary alterations A tax assessor has determined that the fair market value of a property is $140,000. If the assessed value is 50% of fair market value and the tax levy is 42 mills, what are the annual taxes? $2,940 A condominium developer has two restrictive covenants in the declaration of restrictions. One is that all units his owned by unmarried person all units must be used for residential purposes. If the first provision is declared invalid by court order, will the second remain in force? No because once one provision is invalidated, the rest automatically become invalid. Limiting The Neighborhoods in Which a Licensee Shows Houses Because Of a Buyer's Race Is steering a competitive market analysis is used to estimate the most probable price a property will bring which of the following is a health hazard that results from the decay of natural radioactive materials radon gas You are meeting with an owner about listing a property and are asked to recommend a listing price. Which of the following action is most appropriate? Basing the listing price on a competitive market analysis Latino families were beginning to move into a neighborhood that had previously been all white. A local broker passes out flyers to homeowners that said, "Sell now before its too late! We have beautiful new homes with attractive financing and good schools." These flyers would likely be viewed by the courts as. Blockbusting the increase is value of a home due to the addition of central air conditioning is best estimated by using The full cost of the purchase and installation of the air-conditioning A woman wants to list her house that is owned jointly with her husband. Her husband is now in the middle east, where he will work for the next 2 years. The wife can sign the listing agreement for her husband if the husband has granted her power of attorney In a jurisdiction where the common law of agency governs real estate activities. A broker has entered a single agency relationship with the buyer. He has put together a list of properties to show that would provide the maximum commission to the broker, but not all of these properties are suitable for the buyer's needs. In this case the broker has violated the fiduciary duty of loyalty an adult and a minor have entered into a written contract for the sale of a property the minor has inherited this agreement is