man oh man 👨

29問 • 1年前

問題一覧

Jean, a broker for Clean Green Realty, paid Francisco, the buyer, a portion of the commission Clean Green received from the sale. This is known as ______.

A rebate

Which part of the narrative appraisal part is the essential core, containing the appraisal methodology, assumptions and limiting conditions, highest and best use feasibility, and the approach(es) used?

Analysis and opinions

A developer is likely to get the best return for investment if the project is completed during the _________ phase of the real estate market cycle.

Expansion

Which of the following is a difference between the real estate market and other types of investment markets?

The real estate market lacks a central marketplace.

A pair of siblings holds title to a property. What is the most likely form of ownership they hold, unless otherwise specified?

Tenants in common

Carly's closing on an REO property was suddenly delayed due to an internal audit. What does this mean?

The lender has requested a title audit to ensure that the foreclosure was properly handled.

In a face-to-face closing, who meets with whom?

Buyer and seller meet with one another

The accuracy of the market extraction method depends on an accurate reproduction cost new estimate for subject property improvements and ______.

Actual comparable sales of both improved properties and vacant sites

A couple own a portion of a timeshare estate, and the weeks they own are inheritable. Why type of ownership is this?

Fee simple

Jenna's firm in Lexington issues a check to First In Line Title Company because it referred a buyer to Jenna and subsequently closed the transaction. The buyer approved the payment. This is an example of ______.

An illegal kickback

What are out-of-state brokers transacting commercial real estate in Kentucky required to have under Kentucky law?

Notice of affiliation

Your buyer client tells you two weeks before closing that he's lost his job. He doesn't have any other income at the moment, and may not be able to follow through on his purchase of the house you're helping him buy. However, he doesn't want to miss out on his dream home and is optimistic that he'll find something soon, so he asks you to keep it confidential. What should you do?

Disclose this fact to all parties to the transaction if the client refuses to do so.

Changes in demographics and population growth are examples of which type of real estate value influencer?

Social

Under Kentucky law, out-of-state brokers transacting commercial real estate in Kentucky are required to have a(n) ______.

Notice of affiliation

Gabi owns one parcel measuring one square mile and another parcel measuring one mile by a half mile. She combined the parcels and sold them for $2.5 million. What price per acre did she receive for the land?

$2,604.17

Which of these is an example of a sub-agency relationship?

Morris, who's licensed independently, finds a buyer customer for Greg's listing with Marvel Homes and is obligated to act in the best interest of Marvel Homes' client.

When a mortgage is used as a security instrument, who holds the mortgage and the promissory note?

The lender holds the mortgage and the note.

How many cooperation agreements and notices of affiliation may an out-of-state principal broker enter into?

Multiple, with more than one Kentucky cooperating broker

Two real estate firms in one small town agreed to charge the same commission rate to avoid the possibility of clients selecting a firm based simply on price. What specific federal legislation prohibits this?

The Sherman Antitrust Act of 1890

How are principal meridians and baselines used in the rectangular government survey system?

Each legal description in this system originates at the intersection of a principal meridian and a baseline.

Rogers has been given power-of-attorney over his sister's affairs while she's out of the country in case someone needs to take care of personal or business affairs and she's out of contact. What kind of POA does Rogers likely have?

General

On a closing statement, ______ goes in the seller’s credit column and the buyer’s debit column.

Prepaids

The sales contract between buyer Milton and seller Tom has been signed. Whose responsibility is it to keep track of all of the buyer contingency deadlines?

Milton and his agent

Justin is representing the seller in a transaction. Which of the following tasks is he permitted to perform for the unrepresented buyer as a non-agent?

Explain to a buyer the purpose of the seller's property disclosure.

Carlisle is Robin's unlicensed personal assistant. In Kentucky, which activity may Carlisle legally perform?

Placing an advertisement

Another name for the cost approach is ______.

The summation method of appraising

Why would buyers want to know whether a property is currently experiencing a tax abatement?

Their taxes are likely to increase when the abatement period ends.

Which of the following types of properties offer such benefits as recycling and reduced cost, mixed uses, and high desirability?

Converted industrial buildings

Financing of vacant land in rural areas is ______.

Possible using a Section 502 loan

real estate PRACTICE

ユーザ名非公開 · 13問 · 2年前

real estate PRACTICE