NYREI School Samenvattingen, Aantekeningen en Examens

A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - correct answer --Periodic tenancy Physical land and everything attached to it is called - correct answer --Real Estate Equipment a tenant installs for use in his or her business is called - correct answer --Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the ethinic or racial com...

For the income approach to appraisal, value is a reference to what? - correct answer --the worth of the investment Which method of property description is most frequently used in New York State? - correct answer --Metes and bounds One important characteristic of investing caused Bill to invest in certificates of deposit rather than real estate. Bill was concerned with - correct answer --liquidity. Who sets the legal description? - correct answer --surveyor Dwelling policies gener...

What is the minimum licensing requirement to sell commercial real estate in New York? - CORRECT ANSWER - a real estate salesperson's license What is the preferred method of creating an agency relationship? - CORRECT ANSWER - expressed agency An amenity purchaser - CORRECT ANSWER - occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - CORRECT ANSWER - real / deed A salesperson who is an independent contractor - CORRECT AN...

NYREI School Exam Questions and Answers (100% Verified) Latest 2024/2025 Graded. What is the minimum licensing requirement to sell commercial real estate in New York? - ANSWER a real estate salesperson's license What is the preferred method of creating an agency relationship? - ANSWER expressed agency An amenity purchaser - ANSWER occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ANSWER real / deed A salesperson who is an...

NYREI School Exam Questions and Answers (100%Correct Solutions). What is the minimum licensing requirement to sell commercial real estate in New York? - ANSWER a real estate salesperson's license What is the preferred method of creating an agency relationship? - ANSWER expressed agency An amenity purchaser - ANSWER occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ANSWER real / deed A salesperson who is an independent co...

NYREI School Exam Questions and Answers (100%Correct Solutions). What is the minimum licensing requirement to sell commercial real estate in New York? - ANSWER a real estate salesperson's license What is the preferred method of creating an agency relationship? - ANSWER expressed agency An amenity purchaser - ANSWER occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ANSWER real / deed A salesperson who is an independent co...

In order to accurately estimate the flow of a sanitary sewer overflow (SSO) you must have: - correct answer Spill start time, spill end time and spill rate Providing a plan and schedule to properly manage, operate and maintain all parts of the sanitary sewer system is the goal of a: - correct answer A sewer system management plan (SSMP) What are the basics elements of a safety program? - correct answer Safety policy, statement, safety training, accident investigation What factor m...

NYREI School Exam Questions and Answers (100%Correct Solutions). What is the minimum licensing requirement to sell commercial real estate in New York? - ANSWER a real estate salesperson's license What is the preferred method of creating an agency relationship? - ANSWER expressed agency An amenity purchaser - ANSWER occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ANSWER real / deed A salesperson who is an independent co...

Chapter 1 - correct answers--According to IRS, salespersons are independent contractors (earnings for 1099) Statutory Non-employees Keep records for 3 years Salesperson - 18 +, Broker - 20+ Receive commissions from supervising broker ONLY Broker cannot schedule them or require meetings - only regular supervision Chapter 2, 3, 4 - correct answers--Principal/ Client - hires agent While customer can see multiple brokers, clients cannot. Licensees are special, not general ...

transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) - correct answers--C. the trustor(s) The trustor is the borrower in a lending situation using a trust deed. The borrower is giving the lender security or collateral interests in the property. Because those rights and interests belong to the borrower and they are surr...