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30 Cards in this Set

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  • Back
Real estate is not as __ as other investments, such as stocks and bonds because it takes more time/effort to convert to cash.
liquid
Mobile home types:
Single, 8-foot, and 10-foot-wide units
Single, 12-foot-wide units
__-wide, double-wide, or triple-wide units
4 units together
Multiple
New mobile homes cannot be sold by real estate licensees, but only
through licensed mobile home __.
dealers
A real estate licensee can sell used mobile homes provided the
mobile homes have already been __ with the state and are on a lot or in a mobile home __.
registered; park
The mobile home must be capable of being transported over a
__. The hitch must be attached to the unit or stored underneath,
and the axles must still be attached to the __.
road; frame
The licensee is responsible to see that there is proper completion
and delivery of the title to the __.
buyer
Notification of transfer of ownership must be made, AND All fees must be paid to the state, within __ days of the sale date.
10
Mobile home owners must pay an In __ Tax similar to regular property taxes paid by homeowners.
Lieu
If the mobile home was manufactured after June 15, 1976, it must have a __ tag, guaranteeing its proper construction.
HUD
My license can be revoked if I fail to provide for the delivery of proper __ of ownership of a mobile home.
certificate
My license can be revoked if I knowingly participated in the purchase or sale of a __ mobile home.
stolen
My license can be revoked if I submit a check, draft, or money order to the state for payment of mobile home fees and the draft is dishonored upon presentation
to the __.
bank
Modular homes are not considered vehicles, as are mobile homes,
and they immediately become real estate upon placement. Once
placed, all the rules of real __ apply to modular homes.
property
Modular homes are entitled to all the financing packages that are granted to on-site __ homes.
constructed
Only once a modular home is set in place is a real estate __ allowed to handle the sale of the property.
licensee
Second-home investments are usually considered a greater risk
than a principal residence, and this is reflected in the higher __
rates a lender may charge for a second-home loan.
interest
If a second home is sold for a gain, homeowners are NOT allowed to use the $250,000 for singles and $500,000 for married couples income tax exclusions. A vacation or second home is no longer the tax __ it once was.
haven
The split-level home is popular in California because of the better
utilization of land of varying __.
topography
The two-story home has a lower __ per square foot.
cost
The standard A-shaped roof is "__".
The standard 4 sided pyramid roof is "__"
Gable
Hip
For a mobile home to become real property:

1. The mobile homeowner must obtain a building __.
2. The mobile home must be placed on a permanent __.
3. The mobile homeowner must obtain a certificate of __.
4. A document stating that the mobile home is attached to a
permanent foundation must be __.
permit
foundation
occupancy
recorded
When you rent, you can take the money that otherwise would be
used to buy a home and deposit it in a savings account or buy
stocks and bonds, giving you greater __.
liquidity
The ownership of a mobile home is transferred by means of a ________.
certificate of ownership
All fees relating to licensing or transferring of title to mobile
homes must be paid to the ___________________.
Department of Housing and Community Development
For which roof style do “All sides slope to eaves”?
Hip
What style of house fits the description “A two-story house
with a front balcony”?
Monterey
In terms of complication, the most difficult tenant to evict is
one located in a(n) ________.
mobile home park
The highest point in a standard frame house is the __ __.
ridge board
A unit of measurement of lumber that is one foot wide, one foot long, and one inch thick; 144 cubic inches: __ __
board foot
The foundation of a standard built home sits on the __.
footing