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Real Estate -Practice Test Flashcards Quizlet

Details: $201,500 - Debit the buyer Explanation Using a T formula, the sale price goes on the left side, and the 62% on the right side. Side by side, remember that you must multiply; $325,000 X 62% =$201,500 loan amount which is a credit to the buyer because the lender is bringing that money to the closing table for the buyer to pay off over the term of the loan.

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real estate exam Flashcards Quizlet

Details: The Indiana Real Estate Commission has the power to inspect ______ of licensees and brokerage companies. A qualified employee, who can't be one of the partners, must be designated as the managing broker. Rick and Jane are a married couple in Indiana who decide to start a broker company. What's NOT true about licensing their new company as a

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Real Estate Exam Prep Flashcards Quizlet

Details: How much is intangible tax on a real estate purchase mortgage? .002. Explanation: Intangible tax is .002 multiplied by the Total Mortgage, intangible tax is paid on NEW mortgages ONLY. Joe bought a house for $125,000 CASH. How much will he have to pay in Doc Stamps?

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Housing Vocabulary/Review Flashcards Quizlet

Details: A building that houses more than one family in separate living units. Newspaper ads showing available homes for sale. Rental agreement. rental agreement a written agreemnt between a renter and a landlord; a lease Can be added in the form of additional rent or even a "pet security deposit" just for having the pet in rental property

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Real Estate (12) Flashcards Quizlet

Details: For example if a subdivision developer advertises homes for sale with a down payment of $1000 the seller must except $1000 as a complete down payment or be in violation of the law. RESPA (Real Estate Settlement Procedures Act) PrePaid Rent. Entered as a credit to the buyer and debit to seller. Sets with similar terms. Real Estate Practice.

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Unit 18 Fairy Housing Flashcards Quizlet

Details: Study with Quizlet and memorize flashcards containing terms like It is illegal for a lending institution to refuse to make a residential real estate loan in a particular area only because of A) the physical location of the property. B) the deteriorated condition of the premises. C) the questionable economic situation of the applicant. D) the applicant not being of legal age., The …

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Unit 17 Real Property Valuation Flashcards Quizlet

Details: The subject property has two bedrooms, and the comparable property has three bedrooms. The estimated value of the third bedroom is $2,500. According to the sales comparison method, the appraiser should A. deduct $2,500 from the value of the subject property. B. add $2,500 to the value of the subject property.

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Chapter 4 Flashcards Quizlet

Details: Many homes for sale and few buyers drive the value down. Few homes for sale and many buyers increases the value. Tom's rental house rents for $800. A comparable sale of a similar rental house in the same neighborhood sold for $92,000 and rented for $875. What is the value of Tom's house? Round to nearest whole number.

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Chapter 7 Selecting and Financing Housing Flashcards Quizlet

Details: A security deposit is a fee charged to help you find an apartment or house to rent. false. Condominiums involve the purchase of an individual living unit rather than an entire building. assist real estate agents in finding homes for sale. A) restrict property use. Restrictions on how property in an area can be used are A) cooperative

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Real Estate Practice Exam- National Flashcards Quizlet

Details: House B because it has only one adjustment. A rental property could generate $125,000 in gross annual income. A vacancy factor of five percent is normal for the area and annual expenses for the building total $8,750. Calculate the value of the property using a capitalization rate of 11%. $1,000,000.

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Real Estate Principles Flashcards Quizlet

Details: a. special assessments are levied for the cost of specific local improvement while property tax revenue goes into the general fund. 11. Misuse of the real estate appraisal report or coercion of the appraiser are now: a. misdemeanors. b. federal felonies. c. infractions. d. none of the above. b. federal felonies. 12.

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New York real estate exam Flashcards Quizlet

Details: article 12-A, Real Property Law. to protect health, safety, and welfare of the public by ensuring a consistent level of competence, ethics and professionalism by real estate licensees. $1,000 fine. blind ads. conversion. broker uses escrow money for personal or brokerage expenses, stealing

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Unit 9 Exam Flashcards Quizlet

Details: A real estate broker lists a home for sale for $189,500. Later that same day, a prospective buyer comes into the broker's office and asks for general information about homes for sale in the $130,000 to $140,000 price range but refuses representation …

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Property Law 1 Flashcards Quizlet

Details: Name the two doctrines that are commonly available to get around the statute of frauds relating to the contract for the sale of real property. 2. property description 3. rent amount part of the real estate so the owner of the real estate gets it. 3. servant exception - if the servant finds it the master gets it.

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Principles of Real Estate I Flashcards Quizlet

Details: Study with Quizlet and memorize flashcards terms like The aspect of the real estate business that is concerned with bringing together the parties and completing the transactions is ____. a) Agency b) Brokerage c) Closings d) Sales, A small business owner has signed a 3-year lease for space in an office building. During the second year of the lease, the landlord dies.

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Study Real Estate with Examples and Definitions on Quizlet

Details: Act of waste. Abuse of a property by a person who holds possession through a life estate. Fee simple. An inheritable estate. Fee simple absolute. Provides the most complete form of ownership and bundle of rights in real property. Qualified fee. An inheritable freehold estate that is defeasible (the grantor can terminate the title).

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