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20 Cards in this Set
- Front
- Back
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When the debt is paid off in full which of the following in which is effected by trustee
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deed of re-conveyance
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Which of the following considered advantageous for a lender to waive a prepayment penalty clause in conditions affecting interest rates and loan funds that vary on condition market
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In a tight money market where there is lack of funds available for real estate loans
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when GDP or GNP rises, which of the following is correct
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Personal income and home sales also rise
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When calculating CPI, housing expense in one of the largest denominators because
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housing is one of the largest expenses for consumers
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FHA loans generally differ from conventional loans in which of the following ways?
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lower interest rates
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Who decides interest rate in FHA loan
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Mutual agreement between the borrowers and lender
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who usually pay 1% FHA loan fee?
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Seller
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Jane and John (brother, sisters) hold a title joint tenants in a property John later was dead however be involved and owed several creditors substantial unsecured amount of money. Title to the property would now be held by sister, Jane.
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Free and clear of the debts of her brother, John
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When one party agrees to indemnity another for a name loss in return for periodic payments, it is called
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insurance
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A real estate license has inspected a home for sale how long does the buyer have to sue for the failure of the license to disclose problems in the property?
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2 years
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Joint tenancy, tenancy in common is
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concurrent ownership
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A buyer and seller entered into a contract for the sale of seller's home, the buyer backed out, the seller exercised his right of rescission which of the following is true
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Seller must retruen the deposit to the buy,
Seller can sue the buyer seller can try to sell the property to someone else in order to limit the damage all above |
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Mary listed her farm with broker Bob. In the listing Mary, said she would not consider any offer with a down payment over 23%. Borker Bob presented a full price, all case offer which Mary turned down, Which of the following is true?
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Mary can turn down offer without liability because offer did not
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Broker John had 90 day exclusive right to sell listing house for Mr. Wood. 2 weeks later, Mr. Wood cancelled the contract and gave an open listing to Broker Bob, and another open listing to Brokered Field. Broker Field presented an offer to Mr. Wood one week later, which Mr. wood accepted who was entitled to commission
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a full commission to Broker John and also to Broker Field
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A broker Anderson wrote up an offer for his buyer the offer was made upon the approval of the home by the buyer's uncle. The Broker Anderson presented the offer to the seller without desclosing that the buyer's uncle was out of country and was unsure when he returned. The seller accepted the offer. Under these circumstances, broker Anderson's conduct as:
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Unlawful
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Which of the following will terminated an agency relationship. EXCEPT
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Estoppel
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CPI may be used to adjuct the rest of
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graduated lease
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The disclosure form from the real estate agency must be given to the parties in which of the following transactions?
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Sale of a residential triplex
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When a tenant voluntarily moves out of his apartment with the intention to never return, it would be described as:
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Abandonment
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To alienated title to property is:
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Conveys title
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