anotha one

29問 • 1年前

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title XI of the financial institutions reforms, recovery, and enforcement active 1989 States that it's purpose,in part, is to require that real estate appraisals using connection with federally related transactions be performed

in writing, and in accordance with uniform standards

What's the definition of a marketable title

A title that is clear and free of encumbrances

Belva, willing buyer, made an offer of $390,000 on Thad’s house, and he, a willing seller, accepted her offer. What type of value does the 390,000$ represent?

Market value

In Kentucky, reciprocal licensing is_____.

When someone holding an active license in another state meet eligibility requirements and applies for a Kentucky license equivalent to their existing, out-of-state license

Under what circumstances or licensed Kentucky commission members automatically removed from the commission?

They cease to have an active real estate license

For which of these properties would gross income multiplier be calculated

In apartment building with 50 units

Which of these statements is false regarding how appraisers use cost manuals to find current costs

Cost manuals are updated annually

How many parties does a mortgage involve?

Two: borrower and lender

A parcel of land measures one half mile by 3000 feet. If price per acre is $4,200, what's the list price for this parcel? Round to 10th of an acre for your calculation.

763,560

Frank owns a property on which there is walkway to the beach shared by his neighbors on either side. What is Frank’s property?

Servient estate

When constructing a foundation, besides a vapor barrier, what might local building codes require?

Termiticide

In which of the following types of contracts does one or more of the contract's terms still need to be completed?

Executory contract

What is a bound?

A physical feature that defines the boundaries of the land

You’ve just received a trio from a title company. What three documents are included?

Deed, assessor's map, and property profile

Margaret has received her Closing Disclosure from the lender. To best protect her interests, what should she do with it?

Compare it to the Loan Estimate.

Betty hired a contractor to replace her gutters. Within days, the gutters leaked and flooded her basement. She complained to the contractor, who replaced the gutters again. The next time it rained, the gutters leaked and flooded Betty’s basement a second time. Frustrated, Betty decided to file a lawsuit against the contractor in an attempt to recover the money she lost. This is an example of ______.

Suing for damages and breach of contract

An investor is analyzing a property by looking at its ability to produce future income. The property is a 10-unit apartment building. Which of the following would be used to determine this value?

Gross income multiplier

Russ was a rich, eccentric man. Over a period of many years, he built a huge, beautiful castle-like home in a tiny rural community that’s somewhat economically challenged. Which of the following statements about auctioning this property is true?

Technology makes an auction an excellent choice for marketing this property to a wide audience with the means to purchase it.

What's the best definition of land?

The earth's surface, extending downward to the center of the earth and upward to infinity, including permanently attached natural objects

When using the sales comparison approach to value, what might it mean if there’s a large total adjustment needed for a comparable property?

The property may not be a reliable comparable for the subject property.

June and Joel are considering two properties. One is a townhome and one is a condominium. Which of the following is a primary difference between the two?

Condominium owners do not own the land beneath their units.

You represent the buyer in one transaction and the seller in a different transaction. What type of agency relationship do you have with the buyer?

Buyer agency

In addition to the two anchor tenants, how many tenants does a community shopping center normally have?

15 to 40

An appraiser determines that market rent is higher than the contract rent on an apartment building. Which of these factors may be causing this discrepancy?

The area is experiencing an economic boom.

Jenny decided to bid on a house in her neighborhood. The auctioneer announced the lowest bid that will buy the property. This is a(n) ______ auction.

Minimum bid

A buyer with a $350,000 loan has a monthly principal and interest payment of $2,102.36. If $1,801.23 is interest, what’s the new principal balance after the first payment is applied?

$349,698.87

What may happen if a property lies in a designated floodplain?

Flood insurance may be required

Which of the following statements is true regarding Kentucky’s licensing requirements?

A person who receives a $100 gift certificate for performing real estate activities on behalf of a friend must have a real estate license.

When working with a client on a real estate sale, a real estate licensee is usually acting as which type of agent?

Special

real estate PRACTICE

ユーザ名非公開 · 13問 · 2年前

real estate PRACTICE