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National Real Estate Exam Practice Questions/ 219 Q&A A buyer has purchased a property and after closing the seller will continue to occupy the property. This is an example of... - Answer: sale and leaseback Your client will be able to qualify for a property they wish to purchase in about 6 months, after they had an opportunity to reduce their consumer debt. They have found a property that they would like to purchase now. What type of agreement can they enter into with a seller that will a...

CA Real Estate State Exam Crash Course/ 682 Quizzes with Ans & Rationales. When a real estate agent signs a residential listing agreement with the owner of a home, a fiduciary relationship is created between the broker and the: A - seller B - buyer C - general public D - both buyer and seller - Answer: A - seller When real property is sold, who receives a copy of the termite report from the seller? A - the buyer B - the tax assessor's office C - the title company D - the h...

Real Estate U Final Exam Study Guide/ 110 Quizzes & Ans/ . Title - Answer: Legal term for a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. Closing Statement - Answer: A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to take place. Essential Element of a Contract - Answer: 1) Consideration 2) Must be in wri...

Texas Real Estate Exam 2024/ 100 Quizzes & Ans/ Agent Terry convinces an owner to list his property way under market value. Terry sells the property to his brother Mark without disclosing the relationship to the buyer in writing. Mark turns around and sells the property for a profit to split with Terry. This is an example of: - Answer: Self-Dealing Agent Paula found a buyer for her listing, the seller accepted the buyer's offer, and both parties received copies of the contract document...

Real Estate Final Exam #1 (150 Questions & Ans) . Under RESPA, a copy of Real Estate Settlement Costs And You must be given - Answer: at the time of loan application, or within 3 days of application. Which of the following is a closing expense paid by the seller? - Answer: The broker's commission An impound or reserve account MOST benefits whom? - Answer: The lender What are impound or reserve accounts also known as? - Answer: Escrow accounts The HUD-1 form is - Answer: a stat...

CA Real Estate Principles Final Exam/ Questions & Certified Solutions. Which of the following statements is true with respect to an option? An option is: - Answer: Valid if consideration is delivered even if it is less than $10 The term "Realtor" is a trade name and only persons who are members of which of the following organizations have the right to use the term? - Answer: National Association of Realtors The California State Agency that governs the issuance of liquor license...

California Real Estate Principles – 393 Questions and Answers/ Already Graded A+ (2) 8. The sale of personal property generally is governed by the laws of a. the state where the personal property is located b. the state where the owner of the property resides c. any of the states d. the federal government - Answer: the state where the owner of the property resides (2) 9. In California, the Uniform Commercial Code governs sales transactions involving a. real estate b. bulk sale...

California: Real Estate Principles Practice Exam 1 - Salesperson License/ Q&A. 11 of 50 - Derek's new office is undergoing a minor renovation and he cannot conduct business in the location for approximately six months. He decided to lease a temporary office in Samantha's building from June 1 to December 30. Which type of lease has Derek signed? A. An Estate for Years B. An Estate at Sufferance C. An Estate at Will D. None of the above - Answer: A. An Estate for Years 12 of 50 ...

CA Real Estate Exam- Practice/ 110 Q&A/ A+ Score Solution. For income tax purposes improvements are - Answer: Added to the basis of the property. For income tax purposes improvements are - Answer: Added to the basis of the property Information concealment by an agent is - Answer: Misrepresentation A strip lines of stores are: - Answer: Shopping centers In a counter offer: - Answer: the buy may reject to perform or to cancel The agency is terminated - Answer: if the property is...

CA Real Estate Exam 2024 Practice Questions/ 175 Q&A. It is the appraisal principle that a dilapidated property will gain value when the surrounding properties are well kept. Nicer homes surrounding a property that is run down will only raise the subject property's value. During the appraisal process, the appraiser will never adjust the price of the: Appraisal Comps Subject property Land - Answer: Subject property During the appraisal process, the appraiser always adjusts the ...