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30 Cards in this Set
- Front
- Back
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Real estate is not as __ as other investments, such as stocks and bonds because it takes more time/effort to convert to cash.
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liquid
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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
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New mobile homes cannot be sold by real estate licensees, but only
through licensed mobile home __. |
dealers
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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
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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
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The licensee is responsible to see that there is proper completion
and delivery of the title to the __. |
buyer
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Notification of transfer of ownership must be made, AND All fees must be paid to the state, within __ days of the sale date.
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10
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Mobile home owners must pay an In __ Tax similar to regular property taxes paid by homeowners.
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Lieu
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If the mobile home was manufactured after June 15, 1976, it must have a __ tag, guaranteeing its proper construction.
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HUD
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My license can be revoked if I fail to provide for the delivery of proper __ of ownership of a mobile home.
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certificate
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My license can be revoked if I knowingly participated in the purchase or sale of a __ mobile home.
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stolen
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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
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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
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Modular homes are entitled to all the financing packages that are granted to on-site __ homes.
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constructed
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Only once a modular home is set in place is a real estate __ allowed to handle the sale of the property.
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licensee
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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
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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.
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haven
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The split-level home is popular in California because of the better
utilization of land of varying __. |
topography
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The two-story home has a lower __ per square foot.
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cost
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The standard A-shaped roof is "__".
The standard 4 sided pyramid roof is "__" |
Gable
Hip |
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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 |
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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
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The ownership of a mobile home is transferred by means of a ________.
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certificate of ownership
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All fees relating to licensing or transferring of title to mobile
homes must be paid to the ___________________. |
Department of Housing and Community Development
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For which roof style do “All sides slope to eaves”?
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Hip
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What style of house fits the description “A two-story house
with a front balcony”? |
Monterey
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In terms of complication, the most difficult tenant to evict is
one located in a(n) ________. |
mobile home park
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The highest point in a standard frame house is the __ __.
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ridge board
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A unit of measurement of lumber that is one foot wide, one foot long, and one inch thick; 144 cubic inches: __ __
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board foot
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The foundation of a standard built home sits on the __.
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footing
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