• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

20 Cards in this Set

  • Front
  • Back
A typical __ table shows various rates of interest and length of loans (called terms).
Annual income on a property = __ rate x cost of the property
___ splits can occur if one broker puts the property on MLS, yet another broker sells it. 50/50 is the most common split.
When real property is transferred county recorder collects a documentary __ tax.
Documentary transfer tax is computed as, 1/3:
$1.10 per $__of value transferred, or $__ per $500 value transferred.
Documentary transfer tax is computed as, 2/3:
When the terms of the sale are all cash or a new loan, the documentary transfer tax is paid on the __ sales price.
Documentary transfer tax is computed as, 3/3:
When the buyer assumes the seller’s existing loan, the tax is computed only on the __ amount. The transfer tax can be paid by the buyer or the seller, but custom usually has the __ pay the tax.
equity; seller
__ is the charge for the use of money expressed as dollars.
__ is the act of making an equitable distribution of expenses in escrow at the close of the sale.
There are four basic steps in proration:
1. Determine whether the amount should be a credit or a __ to
the seller or the buyer.
2. Determine the number of days to be prorated.
3. Tabulate the cost per day.
4. __ the number of days by the cost per day.
debit; Multiply
For simplicity in determining prorations, assume there are __ days in a month and __ days in a year.
ALWAYS break it down to a daily cost, then multiply by the no. of days.
Made = __ x__
- or -
Income = Rate x __
Paid x Rate

When you are given monthly figures, convert them to __ figures.
A $5,000 note for a loan from a private lender is to be paid off in
12 months. The borrower is to pay the $5,000 plus 8 percent interest
on the due date. An investor purchases the note today at a
discount rate of 10 percent. What is the investor’s rate of return on
the amount invested?
Made = 0.08x5000 + 0.10x5000 = 900
Paid = 4500
Rate = 900/4500 = 20%
__ is the amount of money borrowed.
I = P x R x T
Interest = Principal x Rate x Time
A fully __ loan is one in which the loan will be paid off at the end of the term if all the monthly payments are made.
When solving math problems, ALWAYS ALWAYS re-read the fine details!!
Just do it
Got it wrong: for transfer tax problems involving assumed loans, you MUST use __ (price - loan)!!
Interest paid on your first house payment = rate x __ amount / 12