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Real estate exam (National Portion) Flashcards Quizlet

Details: The minimum rent to meet a property owner's desired return on investment (ROI) is $98,000, which is a little lower than market comparisons. Research shows a very low vacancy rate for the area and there doesn't appear to be a drastic increase in supply in the near future.

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NATIONAL EXAM PSI PRACTICE Flashcards Quizlet

Details: A "homes for sale" magazine contains the following ad: "One-bedroom condo. Your client submits an application to rent a condo unit. and Eric, the buyer, have signed an option agreement, which is an offer to purchase a specific piece of real estate without the obligation to buy it. Until Eric exercises his option to buy, only Sylvan is

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REAL ESTATE PRACTICE EXAM Flashcards Quizlet

Details: Researching the property tax amount that a client will pay on the home he's purchasing. $ As a licensee, you're expected to be an expert in real estate, not home inspections or the tax-related or legal implications of a purchase or sale. Property tax amounts are a matter of public record, and researching them is within your wheelhouse.

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REAL ESTATE FINAL EXAM Flashcards Quizlet

Details: Mikey, an investor who's selling a property that he converted into a three-unit apartment building. Several Maryland licensees have landed themselves on the commission's naughty list, and the Guaranty Fund has paid out a $50,000 claim, a $12,000 claim, and a $45,000 claim in the last week. The fund's balance is now $225,000.

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Real Estate Chapter 21 Flashcards Quizlet

Details: The answer is it is a civil rights violation to refuse to sell or rent because the prospective buyer or tenant has a service animal. It is a civil rights violation in Illinois to discriminate against any person who is blind, hearing impaired, or physically disabled in the terms, conditions, or privileges of sale or rental property.

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Real Estate Practice Exam 1 Flashcards Quizlet

Details: The broker's exemption to the escrow licensing requirement applies when the broker. a. represents the buyer. b. represents the seller. c. is a principal in the transaction. d. any of the above. d (any of the above.) Escrow licensees are prohibited from. a. paying referral fees to real estate brokers. b. permitting one party to make additions

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Real estate practice exam 2 allied (tough questions

Details: d. is not of much importance in the success of a real estate broker's business as he earns commissions only on what the office actually sells. You agree to lease a property for 10 years for $12,000 total rent, at $100 per month. b. would prevent the sale of a property subject to the existing loan unless it were waived by the lender.

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Real Estate quiz FIVE, Real Estate Quiz 5, Real Estate

Details: A building owner charges net rent of $20 in the first year, $21 in the second year, and $22 in the third year, but is providing six months of free rent in the first year as a concession. Using a 10 percent discount rate, what is the effective rent over the three years?

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Chapter 7 Flashcards Quizlet

Details: If a licensee tells a person that a property is not for sale or rent when it actually is, this is considered a) discrimination in lending. b) discrimination in real estate. c) blockbusting. d) redlining.

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Practice of Real Estate Flashcards Quizlet

Details: The agent urges sellers to list their homes for sale before property values decrease. The technical term for this practice is: An exception to the federal laws that prohibit discriminatory practices in the rental (and sale) of real estate apply when the selection and exclusion of tenants is based on: Age.

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chapter 20 Flashcards Quizlet

Details: The real estate industry has had to develop the following in order to serve the real estate needs of customers. An agent describes the area surrounding the house for sale as less than desirable for people of a particular race. What is this an example of? You are representing a client that wants to rent out one of her 3 homes. She wants

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Real Estate License Law Questions Flashcards Quizlet

Details: A. Engage in property management if the real estate broker has held a real estate license for a minimum of five years. B. Set up a property management business if the principal real estate broker agrees. C. Lease-option the real estate broker's own property. D. Rent or …

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Real Estate Chapter 2 Flashcards Quizlet

Details: Under Oregon administrative rules, if a principal broker obtains a listing for the sale of rental property as part of a property management agreement with the owner of the property I. the listing agreement must be set forth and signed separately. II. the compensation must be disclosed.

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Real Estate National PSI practice exam 2 Flashcards Quizlet

Details: A realty firm has just entered into an agreement to represent a home builder in the sale of a new subdivision. The firm has located several potential buyers and five homes have been sold to purchasers that the firm's agents have contacted. The realty firm has an agency relationship with: 1. the builder. 2. the buyers. 3. the builder and the buyers.

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Real Estate 3.3 Flashcards Quizlet

Details: a property is listed for sale with a real estate agent at 190,000. a buyer submits a proper written offer of 185,000. under these circumstances, which of the following is true the buyer may withdraw his offer at any time prior to acceptance by the seller

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Principles of real estate 1 Flashcards Quizlet

Details: an unlicensed person owns 2 rental homes. he advertises the homes for sale and finds a tenant for one of the homes. is he required to have a real estate license? No, because he is the owner of the home

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Real Estate State Practice 2 Flashcards Quizlet

Details: A seller talks with three different agents to establish a probable selling price for a home. The first agent's market analysis suggests a price around $79900. The second agent's market analysis suggests approximately $81500. The third agent doesn't research any …

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Chapter 14 Flashcards Quizlet

Details: She is able to rent the house to sports enthusiasts and their families for 280 days of the year. Skiers like to stay in the winter months and hikers like to rent the house in the summer months. Which type of dwelling unit is this house for Rachel? a. The property is a nonresidence. b. The property is a residence, but NOT her principal residence. c.

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Real Estate Principles Flashcards Quizlet

Details: A quarter section is 640 acres divided by four (160 acres). Darren set up a land trust so that his children could benefit from his real estate investments after he dies. He asked his financial advisor Tom to manage the trust. Darren is the ______. The trustor is the person who creates the trust.

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Final Exam Prep Flashcards Quizlet

Details: Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. A real estate broker has been hired to manage an apartment complex on behalf of the landlord.

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Real Estate Principles Flashcards Quizlet

Details: An oath or affirmation made before a notary public that the content of an instrument is true is called a (n): verification. Grantor A conveys a parcel of land to grantee B on the condition that a park be built within 5 years. At the end of the period, B fails to meet the terms of the conveyance and A terminates the estate that had been granted.

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Real Estate Ch 19 Flashcards Quizlet

Details: 10. The use of financial leverage in purchasing an income-producing property can affect the amount of cash required at acquisition, the net cash flows from rental operations, the net cash flows from the eventual sale of the property, and the ultimate return on invested equity.

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Real Estate Flashcards Quizlet

Details: A) A homeowner engages a real estate professional to rent out his basement apartment. B) An investor owns and rents out five duplexes. C) A non profit owns 20 properties that it only rents to Caucasian families. D) The local Elks club owns a property that's rented only to Elks club members.

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Best Real Estate License Exam Review 5 Flashcards Quizlet

Details: Each unit can gross $2,500 in monthly rent for the owner, and there are no additional income sources from the property. What's the GRM? Bo's real estate ad states: "Custom homes for sale …

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Real Estate Appraisal Final Review Flashcards Quizlet

Details: Contract rent: Rent actually being paid under contract Market rent: Rental income the property would most probably command in an open market Percentage Rent: Rent is a percentage of the tenant's sales volume Overage rent: Amount of rent paid in a percentage lease that is over the base rent amount

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Appraisal Exam Practice Flashcards Quizlet

Details: In the income approach, residential properties are usually analyzed using. A gross rent multiplier. An appraiser is asked to appraise a vacant residential site. The neighborhood is about 75% built up. Most lots in the area are 55' to 65' wide. The vacant lot is 60' wide. Comparable sales indicate lots are selling from $180 to $225 per front foot.

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Practice of Real Estate Flashcards Quizlet

Details: Many Korean families have purchased homes in a specific neighborhood of your community. Now, local merchants are marketing to the Korean clientele. A Caucasian resident listed his house with your firm and you add the property to the MLS. You also place a bilingual ad in the newspaper and a bilingual "For Sale" sign on the property.

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Real Estate Flashcards Quizlet

Details: -Provides or attempts to provide to any party to a real estate transaction consulting services designed to assist the party in the negotiations or procurement of prospects for the listing, sale, purchase, exchange, renting, lease, or option for any real estate or the improvements thereon.

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Real Estate Appraising Flashcards Quizlet

Details: The gross rent multiplier for most single-family residences in Sally Murphy's neighborhood is 268. What is the market value of Sally's house using that GRM, if the house rents for $1,975 per month? $529,300

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chapter 8 Flashcards Quizlet

Details: what is the overall capitalization rate for a rental property if potential gross income is $180,000, vacancy and collection losses are 2%, operating expenses are 25% of effective gross income, capital expenditures are 5% of effective gross income, and the sale price of the property is $1,480,000? assume an above-line treatment of capital expenditures.

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Study Personal Finance Chapter 7 Flashcards Quizlet

Details: The annual rental for an apartment is $16,000 with renter's insurance of $300 and an opportunity cost on the security deposit of $100. A home would carry annual mortgage payments of $16,100, property taxes of $3,000, and home owner's insurance of $1,000.

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Key Areas of Concern in Real Estate Practice Flashcards

Details: A. Access to a "rent to own" program for properties when they can't pay the required down payments. B. Complaint process for rejected home offers, even if the offer is significantly below list price. C. Credit to purchase the home of their choice, regardless of ability to repay. D.

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Finance Real Estate Flashcards Quizlet

Details: When a purchaser borrows funds to finance real estate, he or she promises to repay the loan and offers the property as _____ to secure the loan. collateral Buyers, sellers, lenders, and real estate brokers all rely on title insurance companies for chain of title information and policies of title insurance.

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NJ RE EXAM Q&A Flashcards Quizlet

Details: A city has a transfer fee of $1.00 for each $1,000 of the sale price and the state charges $1.50 per $500 of the sales price for the real estate transaction. If the buyer pays 50% of the transfer taxes.

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Real Estate Principles II Flashcards Quizlet

Details: Sandra, a real estate sales associate, found a buyer for a $200,000 house. The seller agreed to pay a 6% commission to the listing broker, half of which will be paid to Sandra's broker. Sandra is on a 50-50 split with her broker.

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Study questions to review from Flashcards Quizlet

Details: The median sale price of homes in a market area and the median land sale price in that market area could be used in estimating land values by the _____ method. A house would rent for $900 per month if it had air conditioning. Without air conditioning, it can only rent for $870. The appropriate GRM for that type property is 120.

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national book ch 11 real estate contract instructor

Details: A buyer makes an offer to buy a seller's house. Pursuant to this offer, the buyer is obligated to perform only if the buyer is first able to sell a condominium. This is an example of a. a mortgage contingency. b. an option contingency. c. a time-is-of-the-essence contingency. d. a property sale contingency.

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Unit 13 Flashcards Quizlet

Details: A. The trade of an apartment house for a store building that is subsequently rented out. B. The exchange of a vacant city lot for unimproved city land. C. The exchange of real estate you own for a real estate lease that runs 30 years or more. D.

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Real Estate Exam Flashcards Quizlet

Details: must be licensed to negotiate, sale, purchase or exchange of real property, offer to lease rent, solicite listings of RE or prospective tenants, collect any sort of pmts regarding real property - …

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real estate exam 2 Flashcards Quizlet

Details: type of lease where rent increases on a predetermined schedule. indexed. type of lease where rent is tied to an inflation index. A contract for sale of real estate must be in _____ (per Statute of Frauds) and include _____ _____ of property. legal title. the ownership of a freehold estate.

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Unit 8: Contracts Used in Real Estate Transactions I

Details: If a seller, during the listing period, decides to rent a room in the home the seller has listed for sale, what are the obligations of the seller to the broker? The seller can rent a room at any time, because the seller owns the property and has no responsibility to tell the broker about tenants moving in or out of the property.

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Chapter 1; Professor Exam Flashcards Quizlet

Details: 8. The process of purchasing one or more lots and constructing homes on the lots without first securing buyers for the homes is called a. building on speculation. b. constructing tract homes. c. building custom homes. d. subdividing and developing.

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